Climate-related financial disclosures (TCFD)

Climate-related financial disclosure Swiss ordinance on climate

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Climate-related financial disclosure Swiss ordinance on climate.

The scale of the climate crisis is more apparent than ever and the effects of climate change are threatening people, business operations, and economies around the world.

We are acutely aware of the issues at stake, it is a global challenge and is difficult to reverse. Our upstream activities account for over 90% of value chain emissions. The risk associated with climate change is connected to our reliance on numerous input materials that are vulnerable to climate change and the potential for increased costs due to carbon emissions regulations.

As our business is potentially affected by climate change, we have already been carefully considering many aspects addressed by the Taskforce on Climate-related Financial Disclosures (TCFD) for several years.

Addressing climate change risk

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Addressing climate change risk

We address climate change risk through a comprehensive approach that aims at both mitigating it and elaborating new opportunities. We have committed to excellence in climate action, thereby basing our own agenda on ambitious GHG emission reduction targets and encouraging our supply chain partners to increase their efforts for reduction of their own emissions.

Our aim is to be a business that actively benefits the natural environment and takes action to protect nature both in our operations and across our entire supply chain. This dedication drives our bold ambition to become a climate positive business before 2050.

Metrics and targets

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Metrics and targets

Metrics used to assess climate-related risks and opportunities in line with our strategy and risk management process.

METRICS
used to assess climate risks and opportunities in line with Givaudan’s strategy and risk management process

Scope 1+2+3 emissions
Percentage of renewable sourced electricity
Improving water efficiency and wastewater discharge
Total waste and plastics
ESG metrics, as part of our senior leader’s remuneration policy
Potential impact, such as physical asset damage or business interruption, from future physical climate risks

TARGETS
used by Givaudan to management climate-related risks and opportunities

Cutting our operations’ carbon emissions (scope 1+2) by 70% before 2030 and climate positive before 2040
Cutting our supply chain emissions (scope 3) before 2030 by 20% and by 50% before 2040
Climate positive business before 2050
100% of our entire electricity supply to be converted to fully renewable sources by 2025
Improve water efficiency through a 25% water withdrawal rate reduction on sites facing water stress, by 2030
Continuously improve water efficiency on all other sites, through a water withdrawal rate reduction
100% of our wastewater discharge to meet or exceed regulatory and industry standards by 2030
Zero operational waste from directed to landfill for all manufacturing sites by 2030
Decrease of operational waste for disposal intensity by 15% by 2030
100% plastics circularity by 2030

To support our targets, we are refining our net-zero transition plan to report against our new 2024 net-zero targets validated by SBTi. This report will be completed and published in a dedicated report in 2025.

Read more on our climate-related financial disclosure in our 2024 Integrated Report on economic and ESG performance.