DuPont Strengthens Science-based Climate Goals and Receives Target Validation from SBTi

Rhea-AI Summary

DuPont (NYSE: DD) has announced new 2030 climate targets that have been validated by the Science Based Target Initiative (SBTi). The company has increased its Scope 1 and 2 greenhouse gas (GHG) emissions reduction goal to 50% and established a new Scope 3 GHG emissions reduction goal of 25%. DuPont surpassed its previous 30% reduction target for Scope 1 and 2 emissions eight years early, achieving a 35% reduction based on 2019 figures. In 2022, it also reduced Scope 3 emissions by over one million metric tons of carbon dioxide equivalent. The company emphasizes its commitment to innovation and sustainability to meet these ambitious climate goals.

Positive

• Increased Scope 1 and 2 GHG emissions reduction goal to 50%.
• Achieved 35% reduction in Scope 1 and 2 emissions ahead of target.
• Set new Scope 3 GHG emissions reduction goal of 25% from 2020 baseline.
• Reduced Scope 3 emissions by over one million metric tons in 2022.

Negative

• None.

Announces new 2030 climate targets - increases its Scope 1 and 2 GHG emissions reduction goal to 50% and establishes a Scope 3 GHG emissions reduction goal

WILMINGTON, Del., April 24, 2023 /PRNewswire/ -- DuPont (NYSE: DD) today announced that its 2030 emissions reduction targets have been validated by the Science Based Target Initiative (SBTi), a partnership between CDP, the UN Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

SBTi recognizes businesses that set ambitious emissions reduction targets in line with the latest climate science. This reinforces DuPont's alignment with the Paris Agreement and aligns our aspirations with efforts to limit global warming to 1.5°C above preindustrial levels.

"At DuPont, we are committed to taking aggressive action on climate, and the approval from SBTi underscores the progress we are making to achieve significant climate targets aligned with science," said Alexa Dembek, Chief Technology & Sustainability Officer at DuPont. "Together with our customers, we are developing the innovative, sustainable solutions that will lead to carbon neutrality and have the potential to make positive change in the world."

At the end of 2022, DuPont surpassed its 2030 goal of 30 percent reduction in Scope 1 and 2 emissions – eight years ahead of target. The company recorded a 35 percent reduction based off its 2019 baseline. As a result of this progress, DuPont has strengthened its 2030 Scope 1 and 2 GHG emissions reduction goal to 50 percent.

DuPont reduced Scope 3 emissions by over one million metric tons of carbon dioxide equivalent (MT CO2e) in 2022, and set a new 2030 Scope 3 GHG emissions reduction goal of 25 percent in absolute Scope 3 GHG emissions from purchased goods and services and end of life treatment of sold products by 2030 from a 2020 base year.

DuPont's climate progress and overall sustainability performance will be reported in its annual Sustainability Report to be published next month. For more information about DuPont's sustainability initiatives, visit dupont.com/sustainability.

SBTi's validation information is published on the SBTi website.

About DuPont

DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com/. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.

DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.

Cautionary Statement Regarding Forward Looking Statements
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words.

Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not representations or warranties or guarantees of future results.

Forward-looking statements include statements which relate to the purpose, ambitions, commitments, targets, plans, objectives, and results of DuPont's sustainability strategy. Forward-looking statements include statements related to the standards and measurement of progress against the company's sustainability goals, including metrics, data and other information, which are based on estimates and assumptions believed to be reasonable at the time. The actual conduct of the company's activities and results thereof, including the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected in connection with DuPont's sustainability strategy may differ materially from the statements made herein. The use of the word "material" for the purposes of statements regarding our sustainability strategy and goals should not be read as equating to any use of the word in the company's other disclosures or filings with the U.S. Securities and Exchange Commission.

See DuPont's most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission for further description of risk factors that could impact the expectations or estimates implied by the Company's forward-looking statements, including (i) the ability to meet expectations regarding the timing, completion, accounting and tax treatments, and benefits, including integration, related to portfolio changes; (ii) risks and costs related to indemnification of legacy liabilities; (iii) risks and uncertainties related to operational and supply chain impacts or disruptions, including ability to offset increased costs, obtain raw materials, and meet customer needs, and (iv) other risks to DuPont's business and operations. Unlisted factors may also present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties, loss of key customers, reputational harm and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

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SOURCE DuPont

FAQ

What are DuPont's new climate targets for 2030?

DuPont has increased its Scope 1 and 2 GHG emissions reduction goal to 50% and established a new Scope 3 GHG emissions reduction goal of 25%.

When were DuPont's new climate targets validated?

DuPont's new climate targets were validated by the Science Based Target Initiative (SBTi) on April 24, 2023.

How much did DuPont reduce its Scope 1 and 2 emissions?

DuPont achieved a 35% reduction in Scope 1 and 2 emissions based on its 2019 baseline.

What is DuPont's progress in reducing Scope 3 emissions?

In 2022, DuPont reduced Scope 3 emissions by over one million metric tons of carbon dioxide equivalent.

Where can I find more information about DuPont's sustainability initiatives?

More information about DuPont's sustainability initiatives can be found on their website at dupont.com/sustainability.