TIDMULVR
RNS Number : 4634I
Unilever PLC
14 December 2020
Unilever to seek shareholder approval for climate transition
action plan
14 December, 2020, London - The Unilever Board today announced
the intention to put its climate transition action plan before
shareholders and seek a non-binding advisory vote on the company's
ambitious emissions reduction targets and the plans to achieve
them.
The plan will set out the company's climate strategy to reduce
emissions within its operations, through its value chain, as well
as describe how the company is managing risks and meeting consumer
needs connected with climate change and societal responses to
it.
It is the first time a major global company has voluntarily
committed to put its climate transition plans before a shareholder
vote.
Unilever believes that the economy-wide shift to net zero
emissions will require a greater and deeper level of engagement
between companies and their investors about their climate
transition plans. In setting out our plan, we hope this increased
level of transparency and accountability will strengthen the
dialogue with our shareholders and encourage other companies to
follow suit.
Unilever's science-based targets include:
-- Zero emissions from its own operations by 2030 (1)
-- A 50% reduction in the average footprint of its products by 2030 (2)
In addition, in June this year, Unilever announced a new net
zero target:
-- Net zero emissions from sourcing to point of sale, by 2039.
Achieving these targets will require a range of measures
including decarbonising the raw materials it sources, completing
the transition of its operations to 100% renewable energy,
advocating for the accelerated decarbonisation of the global energy
grid, eliminating deforestation from its supply chain, and
innovation and product reformulation through compaction and
concentration.
In addition, to achieve its net zero by 2039 target, Unilever
will require high quality carbon removal credits to balance any
residual emissions from sourcing to point of sale.
Alan Jope, Unilever CEO said, "Climate change is the most
pressing issue of our time and we are determined to play a
leadership role in accelerating the transition to a zero carbon
economy.
"We have a wide ranging and ambitious set of climate commitments
- but we know they are only as good as our delivery against them.
That's why we will be sharing more detail with our shareholders who
are increasingly wanting to understand more about our strategy and
plans.
"We welcome this increased transparency and in the plan we
present, we will be clear both about the areas in our direct
control where we have a high degree of certainty of our route to
net zero, as well as more challenging areas across our value chain
where systemic solutions will be required to achieve our
targets."
Unilever will share its climate transition action plan in Q1
2021, ahead of its AGM on May 5. The plan will be updated on a
rolling basis and Unilever will seek an advisory vote every three
years on any material changes made or proposed to the plan. The
first year the company will report on its annual progress against
the plan will be 2022.
(1) Unilever commits to reduce scope 1 and 2 GHG emissions 100%
by 2030 from a 2015 base year.
(2) Unilever has committed to reduce GHG emissions from the
life-cycle of their products 50% per consumer use by 2030 from a
2010 base-year
ENDS
Enquiries
Unilever PLC
Unilever House
100 Victoria Embankment
London EC4Y 0DY United Kingdom
Media Relations
UK
+44777999 9683
JSibun@tulchangroup.com
+447393789124
Stephanie.Macmillan@Unilever.com
NL
+31 615 008293
fleur-van.bruggen@unilever.com
Investor Relations
+44 20 7822 6830
investor.relations@unilever.com
About Unilever
Unilever is one of the world's leading suppliers of Beauty &
Personal Care, Home Care, and Foods & Refreshment products with
sales in over 190 countries and reaching 2.5 billion consumers a
day. It has 150,000 employees and generated sales of EUR52 billion
in 2019. Over half of the company's footprint is in developing and
emerging markets. Unilever has around 400 brands found in homes all
over the world, including Dove, Knorr, Dirt Is Good, Rexona,
Hellmann's, Lipton, Wall's, Lux, Magnum, Axe, Sunsilk and Surf.
Unilever's Sustainable Living Plan (USLP) underpins the
company's strategy and commits to:
-- Helping more than a billion people take action to improve
their health and well-being by 2020.
-- Halving the environmental impact of our products by 2030.
-- Enhancing the livelihoods of millions of people by 2020.
The USLP creates value by driving growth and trust, eliminating
costs and reducing risks. The company's sustainable living brands
delivered 78% of total growth and 75% of turnover in 2019.
Since 2010 we have been taking action through the Unilever
Sustainable Living Plan to help more than a billion people improve
their health and well-being, halve our environmental footprint and
enhance the livelihoods of millions of people as we grow our
business. We have made significant progress and continue to expand
our ambition - in 2019 committing to ensure 100% of our plastic
packaging is fully reusable, recyclable or compostable by 2025.
While there is still more to do, we are proud to have been
recognised in 2019 as sector leader in the Dow Jones Sustainability
Index and in 2020 - for the tenth-consecutive year - as the top
ranked company in the GlobeScan/SustainAbility Sustainability
Leaders survey.
For more information about Unilever and its brands, please visit
www.unilever.com
For more information on the USLP:
www.unilever.com/sustainable-living/
Safe Harbour
Where relevant, these actions are subject to the appropriate
consultations and approvals.
This announcement may contain forward-looking statements,
including 'forward-looking statements' within the meaning of the
United States Private Securities Litigation Reform Act of 1995.
Words such as 'will', 'aim', 'expects', 'anticipates', 'intends',
'looks', 'believes', 'vision', or the negative of these terms and
other similar expressions of future performance or results, and
their negatives, are intended to identify such forward-looking
statements. These forward-looking statements are based upon current
expectations and assumptions regarding anticipated developments and
other factors affecting the Unilever Group (the 'Group'). They are
not historical facts, nor are they guarantees of future
performance.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause actual
results to differ materially from those expressed or implied by
these forward-looking statements. Among other risks and
uncertainties, the material or principal factors which could cause
actual results to differ materially are: Unilever's global brands
not meeting consumer preferences; Unilever's ability to innovate
and remain competitive; Unilever's investment choices in its
portfolio management; inability to find sustainable solutions to
support long-term growth; the effect of climate change on
Unilever's business; customer relationships; the recruitment and
retention of talented employees; disruptions in our supply chain;
the cost of raw materials and commodities; the production of safe
and high quality products; secure and reliable IT infrastructure;
successful execution of acquisitions, divestitures and business
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disasters; financial risks; failure to meet high and ethical
standards; and managing regulatory, tax and legal matters. These
forward-looking statements speak only as of the date of this
announcement. Except as required by any applicable law or
regulation, the Group expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Group's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based. Further details of potential risks and uncertainties
affecting the Group are described in the Group's filings with the
London Stock Exchange, Euronext Amsterdam and the US Securities and
Exchange Commission, including in the Annual Report on Form 20-F
2019 and the Unilever Annual Report and Accounts 2019.
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