April 22, 2024

Tetra Pak recognised for fourth consecutive year as part of CDP ‘A List’ for action on climate change and forests

Tetra Pak has been recognized for leadership in corporate transparency and performance on climate change and forests by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for the fourth year running.

Tetra Pak is one of a handful of players that achieved a double ‘A’, out of nearly 15,000 companies that were scored based on data submitted through CDP’s 2022 Climate Change and Forests questionnaires.

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are scored an F.

CDP’s scoring for forests is conducted through the lens of four commodities: timber, cattle products, soy, and palm oil. Companies need to score an A on at least one of these forest-risk commodities to earn a place on the Forests A List.

Gilles Tisserand, Vice President Climate & Biodiversity, Tetra Pak, said: “With food systems responsible for about a third of global GHG emissions, global players like us must collaborate across the value chain to accelerate action. That’s why we are extremely pleased to be included in CDP ‘A List’ for the fourth year running, as it recognises that we are taking the right steps on combatting climate change and minimising deforestation risks.”

“In today’s world, decoupling climate impact and economic growth is becoming increasingly challenging, whilst corporate transparency is more and more seen as the ‘make it or break it’ for business success – and rightfully so. We recognise the long journey ahead, but future proofing our business to be aligned with a 1.5°C pathway is essential, and we are fully committed to play our part.”

The double ‘A’ score highlights Tetra Pak’s longstanding commitment to environmental action. For example, the company reduced operational greenhouse gas (GHG) emissions by 36%[1] in 2021, with 80% of electricity coming from renewable sources, while accelerating work with the 44 raw materials suppliers that are part of its “Join Us in Protecting the Planet” initiative. As part of the ‘20 actions for 2030’ as detailed by the programme, the prioritised one for them is to cut their carbon footprint by 50% by 2030[2]. As a further demonstration of how collaboration is critical to address global warming, in early 2022 Tetra Pak launched an industry-first land restoration initiative in Brazil, joining forces with local NGO Apremavi. The aim is to restore up to 7,000 hectares of the Atlantic Forest by 2030 for biodiversity recovery, carbon removal and climate change mitigation.

In addition, in August 2022, Tetra Pak’s target to reach net-zero GHG emissions across the value chain by 2050 has been approved by Science Based Target initiative (SBTi)[3] under its Corporate Net-Zero Standard[4].For the company, this means a 46% reduction of absolute scope 1, 2 and 3 GHG emissions by 2030, and a 90% reduction across the same set of scopes by 2050. Looking ahead, Tetra Pak has set additional ambitious commitments, such as halving food waste, water consumption and carbon footprint of its best practice processing lines by 2030[5].

Dexter Galvin, Global Director of Corporations and Supply Chains at CDP said: “Congratulations to all the companies on this year’s A List; environmental transparency is the first vital step towards a net-zero and nature-positive future. In a year of ever-increasing environmental concerns around the world – from extreme weather to unprecedented losses to nature – the need for transformational, urgent and collaborative change is more critical than ever. We must decarbonize half of global GHG emissions and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature. As CDP continues to raise the bar on what qualifies as climate, forests and water leadership, we hope to see the ambitions and actions of companies on the A List – and those wanting a place on it – do the same.”

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