Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Monday, December 21 2020 - 11:00
Science Based Targets initiative validates Ferrero's climate goals
SINGAPORE, Dec. 21, 2020 /PRNewswire-AsiaNet/ --

Ferrero aims to halve emissions from owned operations, in line with the Paris 
Agreement's most ambitious aim to limit global warming to 1.5 degrees Celsius

Ahead of the five-year anniversary of the adoption of the Paris Agreement on 
December 12, Ferrero is proud to announce that the independent Science Based 
Targets initiative[] (SBTi) has validated 
Ferrero's climate goals[], recently 
announced as part of the company's 11th Sustainability Report.

By 2030, Ferrero aims to halve all emissions from its owned operations (Scope 1 
and 2) and commits to reducing emissions by 43% for each tonne of product 
produced across all scopes. Both targets use 2018 as a base year. The SBTi has 
also approved that Ferrero's target on reducing emissions from its owned 
operations is in line with the goal to limit global warming to 1.5 degrees 
Celsius, the most ambitious aim of the Paris 

The Science Based Targets initiative is a collaboration between CDP, the United 
Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund 
For Nature (WWF). To date, over 1,000 companies across the globe have joined 
this world-leading initiative. Ferrero's 1.5 degrees Celsius-aligned target is 
the most ambitious designation currently available through the SBTi process.

In order to achieve its first target, Ferrero has developed a set roadmap to 
reduce emissions from plants, warehouses and main offices. The path for all 
Ferrero's global operations includes the transition to electricity coming from 
renewable energy sources only. Ferrero has already achieved this in Europe, 
where 100% of its electricity purchased from the grid is certified renewable. 
Globally, 64% of the electricity Ferrero purchases today is certified renewable.

For Ferrero's second climate target, which also involves Scope 3 emissions, the 
company will work together with its suppliers to reduce emissions, rethinking 
solutions with lower carbon impact and developing new products.

"With the approval of the SBTi, we are proud to join a common effort of 
companies who follow a science-based trajectory to tackling climate change. It 
is our responsibility as industry to be part of the solution by limiting our 
emissions and working together with all partners in our supply chain," said 
Mario Abreu, Ferrero's Chief Sustainability Officer.

"We thank the SBTi for reviewing our climate targets and counting us among 
those companies that follow the most challenging roadmap."

"We congratulate Ferrero for setting emission reduction targets consistent with 
limiting warming to 1.5 degrees Celsius , the most ambitious goal of the Paris 
Agreement," said Cynthia Cummis, Director of Private Sector Climate Mitigation 
at World Resources Institute, one of the Science Based Targets initiative 

"By setting targets grounded in climate science, Ferrero is positioning 
themselves as leaders in the food and beverage processing sector for the 
transition to a net-zero economy."

Ferrero will transparently report on its progress in achieving its climate 
targets on and in the annual Ferrero 
Companies must report their company-wide emissions and progress against their 
targets on an annual basis to the SBTi.

About Ferrero:

Ferrero began its story in the little town of Alba in Piedmont, Italy, in 1946. 
Today, with a consolidated turnover of over 11.4 billion euros, Ferrero is 
amongst the market leaders of the Sweet Packaged Foods market worldwide.

The Ferrero Group is present throughout the world with more than 41,000 people 
and 31 production plants. Ferrero is the producer of many brand icons that are 
loved generation after generation, including Nutella, Ferrero Rocher, Tic Tac, 
Kinder and Raffaello, which are present and sold in more than 170 countries.

Product freshness and high quality, the careful selection of the finest raw 
materials, sustainable agricultural practices and continuous research and 
innovation are some of the key elements of Ferrero's success.

For further information visit: or 

SOURCE Ferrero