Firmenich – the first company in the perfume industry to receive approval for its net-zero emissions target

Firmenich Receives SBTi Approval For Net-Zero Emissions Target.

Firmenich is the first company in the industry to receive approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.

Firmenich, the world’s largest privately-owned fragrance and taste company, has received approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target, making it the first company in the perfume industry and one of the first companies globally to receive approval from the SBTi.

Firmenich is a leading business-to-business company specialized in the research, creation, manufacture and sale of perfumes, flavors, and fragrance ingredients. Renowned for its world-class research and creativity as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science, and taste modulation. Firmenich had an annual turnover of 4.7 billion Swiss Francs at end June 2022.

Firmenich has both near- and long-term science-based emissions reduction targets verified and approved by the SBTi. The Group is committed to reach net-zero greenhouse gas emissions across its value chain by 2039, keeping global warming below 1.5°C in line with the Paris Agreement.

“I am proud that Firmenich is one the first companies to see their net-zero emissions target approved by SBTi. These ambitious goals aim at effectively reducing our environmental footprint, while actively engaging with our suppliers and customers to reduce CO2 emissions through our supply chain. Setting science based targets is crucial to future-proofing sustainable business growth while assuring the stability of our planet and climate system for generations to come,” said Gilbert Ghostine, CEO of Firmenich.

“Acting on the climate emergency via a scientific approach is key to effective decarbonization and by establishing a framework, the SBTi is enabling companies to lead the path to a low carbon future. At Firmenich, we are taking the necessary measures to minimize our impact and aim to lead our industry towards net-zero greenhouse gas emissions,” said Neil McFarlane, Senior Vice President Global QHS&E, Firmenich.

Firmenich equally commits to reduce absolute scope 3 GHG emissions 90% by 2039 from a 2021 base year. Being a positive driver of change across its value chain, Firmenich also commits that 80% of its suppliers by spend will have science-based targets by 2026.

The approval of the net-zero emissions target builds on earlier important milestones in tackling climate change.

Previously, the company has taken concrete steps to ensure the continued availability of renewable energy options for its sites, from solar and wind as well as by installing biogas boilers at its sites. Since February 2020, all its operations worldwide are powered by 100% renewable electricity.

Firmenich is one of only two companies in the world to have received a Triple A listing for climate change, forest and water management from CDP for four years in a row.

In June 2020, the company acquired Les Dérivés Résiniques et Terpéniques (“DRT”), a world leader in plant-based chemistry, mainly from pine trees, and one of the leading suppliers globally of high quality, renewable ingredients.

In October 2020, Firmenich announced that it had created a flavour by means of artificial intelligence. It teamed with Microsoft who helped leverage “the entirety of Firmenich’s broad raw material database” to dissimulate “a lightly grilled beef taste” into its plant-based meat alternatives. Firmenich’s “unique palette of ingredients” and “SmartProteins expertise in plant-based protein alternatives” were instrumental in the innovation process.

Firmenich is one of the founding members of the “Business Ambition for 1.5C”, a broad coalition of visionary companies committed to a net-zero carbon future by no later than 2050, including Unilever, Danone, Nestlé and L’Oréal.