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Fresh Del Monte Commits to Reducing Scope 1, 2 and 3 Greenhouse Gas Emissions by 2030 Ahead of COP26
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Fresh Del Monte Produce has received approval from the Science Based Targets initiative (SBTi) for its emissions reduction targets, which align with the Paris Agreement's goals. The company aims to reduce greenhouse gas emissions by 27.5% (scopes 1 and 2) and 12.3% from its value chain (scope 3) by 2030. This initiative positions Fresh Del Monte as a pioneer among agricultural producers committed to science-based climate action, with 63% of its capital expenditures directed toward climate initiatives last year. Chief Sustainability Officer Hans Sauter emphasizes the company's role in driving sustainability in the food system.
Positive
Approval of 27.5% emissions reduction target (scopes 1 and 2) aligns with Paris Agreement.
63% of capital expenditures last year were focused on climate action.
Development of a proprietary environmental action tool for tracking emissions and sustainability metrics.
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Company among the first agricultural producers to have emission targets approved by the Science Based Targets initiative
MIAMI--(BUSINESS WIRE)--
Fresh Del Monte Produce Inc., one of the world’s leading vertically integrated producers, distributors, and marketers of fresh and fresh-cut fruits and vegetables, announced today that its emissions reduction targets were approved by the Science Based Targets initiative (SBTi) as consistent with the levels required to meet the goals of the Paris Agreement. The 27.5% reduction target covers greenhouse gas emissions from the company’s operations (scopes 1 and 2) and is consistent with reductions required to keep global warming to well-below 2°C.
Fresh Del Monte Commits to Reducing Scope 1, 2 and 3 Greenhouse Gas Emissions by 2030 Ahead of COP26 (Photo: Business Wire)
Fresh Del Monte’s 12.3% reduction target for emissions from its value chain (scope 3) including emissions from purchased goods and services, upstream transportation and distribution, waste generated in operations and employee commuting meet the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice.
“We’re thrilled to receive approval of our emissions reduction targets by the Science Based Targets initiative, which furthers our commitment to protect the health of our planet today and for future generations,” said Hans Sauter, Chief Sustainability Officer and SVP of Research & Development at Fresh Del Monte. “The food system is a vital area for climate action and we hope to lead by example and inspire others in the industry to make the commitment toward this much needed change.”
As the first global marketer of fruits and vegetables to commit to the initiative in 2020, this is a significant milestone for Fresh Del Monte as only a few agricultural producers have developed emissions reduction targets grounded in climate science. Last year, 63% of the company’s capital expenditures benefitted climate action. To help manage its emissions, water, and waste, the company also created a proprietary new environmental action tool and database to track data facility by facility, covering 100% of Fresh Del Monte’s global operations.
Sauter will join industry leaders in a panel discussion on “Sustainable and Regenerative Agriculture at the Center of Development Strategies - Challenges and Opportunities,” at the United Nations Climate Change Conference (COP26) and the Convention on Biological Diversity (COP15) in Glasgow, United Kingdom.
Fresh Del Monte Produce Inc. is one of the world's leading vertically integrated producers, marketers and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa and the Middle East. Fresh Del Monte markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness and reliability for over 135 years. The Company also markets its products under the MANN™ brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. Fresh Del Monte Produce is traded on the NYSE under the symbol FDP.
What are Fresh Del Monte's new emissions reduction targets?
Fresh Del Monte aims for a 27.5% reduction in greenhouse gas emissions (scopes 1 and 2) and a 12.3% reduction in scope 3 emissions by 2030.
When were Fresh Del Monte's emissions reduction targets approved?
The emissions reduction targets were approved by the Science Based Targets initiative (SBTi) recently, aligning with the goals of the Paris Agreement.
What percentage of Fresh Del Monte's capital expenditures focused on climate action last year?
Last year, 63% of Fresh Del Monte's capital expenditures were directed towards climate action initiatives.
Who is the Chief Sustainability Officer of Fresh Del Monte?
Hans Sauter is the Chief Sustainability Officer and SVP of Research & Development at Fresh Del Monte.
What is the significance of Fresh Del Monte's commitment to emissions reduction?
Fresh Del Monte's commitment positions it as a leader among agricultural producers in addressing climate change, with science-based targets aligning with global sustainability efforts.
