The Science Based Target Initiative (SBTi) has validated Fonterra’s emissions reduction targets.
SBTi is a globally recognised organisation that defines and promotes best practices in science-based target setting. The validation of these targets means that they are aligned with the Paris Agreement to limit global warming to 1.5°C.
“SBTi applied a lot of rigour to the verification process, which is essential, and I thank our teams that have worked on this,” said Fonterra Director of Sustainability Charlotte Rutherford.
“Having credible, science-backed targets is really important to us and our customers. It’s now up to all of us to keep making progress towards these targets to maintain our position as one of the world’s lowest-emissions suppliers of dairy at scale.”
Last year, Fonterra set a new on-farm emissions reduction target and increased its scope 1 and 2 targets as part of its work to be a long-term sustainable Co-op. Since then, it has been working on SBTi's validating these targets.
As per Scope 1&2, Fonterra Co-operative Group Limited is committed to reduce absolute scope 1 and 2 GHG emissions by 50.4 percent by FY2030 from an FY2018 base year.
It is also committed to reducing scope 1 and 3 Forest Land and Agriculture Guidance (FLAG) GHG emissions from dairy 30 percent per tonne of fat-and-protein-corrected milk by FY2030 from an FY2018 base year.
Another commitment has been to combat deforestation across its primary deforestation-linked commodities, with a target date of the 31st of December 2025.
In seeking validation, the Co-op was also required to set an additional scope 3 energy and industrial targets, focusing on vendors' and customers' climate ambitions and their alignment with science-based targets.
This new target commits that 78.2 percent of its supplier's and customers' emissions, covering purchased goods and services, capital goods, upstream and downstream transportation and distribution, business travel, and processing of sold products, will have science-based targets by FY28.
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