“Fazer has always been a forerunner in sustainability. It is a matter of pride to our employees and meaningful to our consumers. Our sustainability agenda is aligned with our mission: Food with a purpose. We can and will take an even more active role in mitigating climate change,” Christoph Vitzthum, President and CEO of Fazer Group, comments.
In accordance with the SBT, we will define new climate targets and develop the cooperation model with our suppliers to reduce emissions both in our own operations and throughout the entire value chain.
- February 2021: Fazer committed to set science-based targets
- Spring-autumn 2021: Fazer calculated the emission reductions required to align with the Paris Agreement
- Autumn 2021: Fazer sent calculations for validation to SBTi
By committing to the Science Based Targets Initiative, Fazer will commit to reduce its greenhouse gas (GHG) emissions. GHG emission targets are considered science-based if they are in line with the Paris Agreement, pursuing to keep global temperature increase below 2 C above pre-industrial levels with further efforts to limit warming to 1.5 C. Detailed emission reduction targets will be announced when the validation work is done, in autumn 2021.
Many of Fazer’s customers have taken up SBT to indicate commitment to mitigating climate change. Suppliers, such as Fazer, are part of the customers’ scope 3 emissions, and are therefore challenged to commit as well
Fazer has had high ambitions regarding climate actions already for years and the scope of its emission reduction target, one of the company’s four sustainability Core Goals, has covered both Fazer’s own operations and its value chain. As Fazer commits to the SBTi, new climate targets will be defined in line with the Paris Agreement targets. In 2020, Fazer Group’s total annual CO2 emissions were approximately 1.3 million tonnes and the majority of the emissions is related to raw material production in the value chain. Cooperation with the supply chain will therefore continue to play a central role in reducing the emissions also in the future.
“Fazer recognises the crucial role the international business community can play in mitigating the risks climate change poses to the future of our planet. By setting science-based targets, we are committing to reducing emissions, not only in our own business, but also in our value chain,” Sari Sarin, Sustainability Director, says.”
What is SBTi?
The Science Based Targets initiative is a cooperation between UN Global Compact, WRI, WWF and CDP. The aim of the initiative is to enable businesses to take swift climate action by setting ambitious targets for reducing greenhouse gas emissions. Targets adopted by companies are considered science-based if they are in line with the Paris Agreement, pursuing to keep global temperature increase below 2°C above pre-industrial levels with further efforts to limit warming to 1.5°C.
More info on Sciece Based Targets initiative.