Colgate-Palmolive’s Net Zero Targets Approved by The Science Based Targets initiative
September 14 2022 - 8:20PM
Business Wire
First Large Multinational Company in its
Sector to Announce Approval
Colgate-Palmolive Company (NYSE: CL) today announced that its
Net Zero emissions reduction targets have been approved by The
Science Based Targets initiative (SBTi). No other large
multinational company in the Consumer Durables, Household and
Personal Products sector has announced approval from SBTi, a
coalition of CDP, the United Nations Global Compact (UNGC), World
Resources Institute (WRI) and the World Wide Fund for Nature
(WWF).
Colgate has been working to address climate change and disclose
emissions data for over 20 years. Accelerating Action on Climate
Change is a core action of its 2025 Sustainability & Social
Impact Strategy and drives its intention for Net Zero carbon
emissions across its growing business.
“At Colgate, we are acting with purpose to reimagine a healthier
future for all people, their pets and our planet – and we have
established a robust organization-wide commitment to ambitious,
science-based emission reduction targets,” said Ann Tracy, Chief
Sustainability Officer, Colgate-Palmolive. “Earning this
designation from the SBTi, which is considered the global
gold-standard for evaluating and approving climate targets,
reflects Colgate’s commitment to making a meaningful impact for the
environment and for the communities we serve around the world.”
Colgate’s Net Zero Transition & Commitments
Colgate is taking efforts to accelerate action on climate change
through science-based near-term, long-term and Net Zero 2040
emissions commitments across its operations and supply chain, which
have been approved by the SBTi. The SBTi Target Validation Team
determined that Colgate’s targets are in line with the Paris
Agreement’s objective of limiting global warming to 1.5°C and the
SBTi’s 1.5°C mitigation pathways for reaching Net Zero by 2050 or
sooner.
Colgate targets to:
- Reduce absolute Scope 1 and Scope 2 GHG emissions by 42% by
2030 from a 2020 base year.
- Increase annual sourcing of renewable electricity from 35% in
2020 to 100% by 2030.
- Reduce absolute Scope 3 GHG emissions from Purchased Goods and
Services by 42% by 2030 from a 2020 base year.
- Reach Net Zero GHG emissions across the value chain by
2040.1
Additional details about Colgate’s efforts to accelerate action
on climate change can be found in Colgate’s 2022 Climate Transition
& Net Zero Action Plan.
About Colgate-Palmolive Company
Colgate-Palmolive Company is a caring, innovative growth company
reimagining a healthier future for all people, their pets and our
planet. Focused on Oral Care, Personal Care, Home Care and Pet
Nutrition, we sell our products in more than 200 countries and
territories under brands such as Colgate, Palmolive, elmex, hello,
meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring,
PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion,
Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and
Hill’s Prescription Diet. We are recognized for our leadership and
innovation in promoting sustainability and community wellbeing,
including our achievements in decreasing plastic waste and
promoting recyclability, saving water, conserving natural resources
and improving children’s oral health through the Colgate Bright
Smiles, Bright Futures program, which has reached more than 1.4
billion children since 1991. For more information about Colgate’s
global business and how we are building a future to smile about,
visit www.colgatepalmolive.com. CL-C
Cautionary Statement on Forward-Looking Statements
All statements in this press release that are not historical or
factual, including targets for and projections for future results,
the expected achievement and effect of our sustainability
strategies and initiatives, including our 2025 Sustainability &
Social Impact Strategy and our 2022 Climate Transition & Net
Zero Action Plan, and the amounts and timing of their expected
impact are “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995 and the
rules, regulations and releases of the U.S. Securities and Exchange
Commission (SEC). Forward-looking statements generally can be
identified by words such as “believes,” “expects,” “estimates,”
“intends,” “plans,” “strives,” “may,” “could,” “projects,”
“should,” “will,” “continue,” “targets” and other similar
expressions, and are based on management’s views and assumptions as
of the date they were made. Except as required by law, we undertake
no obligation to update these statements as a result of new
information and we make no representation, express or implied, that
the information is still accurate or complete. We caution that such
forward-looking statements are not guarantees of future performance
and that actual events or results may differ materially from these
statements due to a number of factors. Information about factors
that could impact our business and cause actual results to vary,
possibly materially, from these forward-looking statements, can be
found in this report and in our filings with the SEC, including the
information set forth under the captions “Risk Factors” and
“Cautionary Statement on Forward-Looking Statements” in Colgate’s
Annual Report on Form 10-K for the year ended December 31, 2021 and
subsequent Quarterly Reports on Form 10-Q.
_____________________ 1 Excludes Scope 3 optional emissions per
the SBTi Net Zero Standard.
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Thomas DiPiazza Colgate-Palmolive Company
Thomas_DiPiazza@colpal.com
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