Kenvue Advances Its Healthy Lives Mission and Climate Action Commitment With Science-Based Targets Validation

Rhea-AI Summary

Kenvue Inc. (NYSE: KVUE) has had its near-term greenhouse gas emissions reduction targets validated by the Science Based Targets initiative (SBTi), aligning with efforts to limit global temperature rise. The company commits to a 42% reduction in absolute Scope 1 and 2 GHG emissions by 2030 compared to 2020 levels. Additionally, Kenvue aims for 75% of its suppliers to have science-based targets by 2028. This validation underscores the company's dedication to combating climate change and advancing its Healthy Lives Mission, focusing on the well-being of people and the planet.

Positive

• Validation of near-term greenhouse gas emissions reduction targets by SBTi underscores Kenvue's commitment to combating climate change.

• Kenvue commits to a 42% reduction in absolute Scope 1 and 2 GHG emissions by 2030 compared to 2020 levels.

• The company aims for 75% of its suppliers to have science-based targets by 2028.

• Focus on advancing the Healthy Lives Mission demonstrates Kenvue's dedication to the well-being of people and the planet.

Negative

• None.

Maker of iconic brands such as Neutrogena®, Listerine®, Aveeno® and Tylenol® aims to advance the well-being of people and planet through its Healthy Lives Mission

SKILLMAN, NJ / ACCESSWIRE / May 2, 2024 / Kenvue Inc. (NYSE:KVUE) ("Kenvue" or the "Company"), the world's largest pure-play consumer health company by revenue, today announced that its near-term greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).

SBTi has validated Kenvue's near-term targets as in-line with the urgent actions needed to limit the global temperature rise to 1.5°C:

• Kenvue commits to reduce absolute Scope 1 and 2 GHG emissions^1,2,3 42% by 2030⁴ from a 2020 base year
• Kenvue also commits that 75% of its suppliers by emissions covering purchased goods and services and upstream transportation and distribution will have science-based targets by 2028.⁴

"We recognize the increasingly detrimental impact climate change is having on people and ecosystems around the world. As a company dedicated to a healthy future, we are setting ambitious science-based emissions reduction targets and action plans to decarbonize our products, operations, and value chain," said Pamela Gill-Alabaster*, Global Head of ESG & Sustainability at Kenvue. "We are proud that the SBTi has validated our climate targets so early in our new company's journey, and this important milestone signals our intent to create a positive change and make meaningful progress in support of our Healthy Lives Mission."

These validated near-term targets and the Kenvue commitment to set long-term net zero emissions targets informed by the SBTi Net Zero Standard support Kenvue's Healthy Lives Mission, the Company's environmental, social and governance strategy. With the understanding that human health is inseparably linked to environmental health, the Company's Healthy Lives Mission aims to advance the well-being of both people and planet and sets goals and commitments to help drive impact.

About Kenvue
Kenvue is the world's largest pure-play consumer health company by revenue. Built on more than a century of heritage, our iconic brands, including Aveeno®, BAND-AID® Brand Adhesive Bandages, Johnson's®, Listerine®, Neutrogena® and Tylenol®, are science-backed and recommended by healthcare professionals around the world. At Kenvue, we believe in the extraordinary power of everyday care and our teams work every day to put that power in consumers' hands and earn a place in their hearts and homes. Learn more at www.kenvue.com.

Investor Relations:
Tina Romani
Kenvue_IR@kenvue.com

Media Relations:
Melissa Witt
media@kenvue.com

* Pamela Gill-Alabaster is an employee of Johnson & Johnson Consumer Inc., a subsidiary of Kenvue.

Cautions Concerning Forward-Looking Statements

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding the Company's climate goals and its Healthy Lives Mission. Forward-looking statements may be identified by the use of words such as "plans," "expects," "commits," "will," "anticipates," "estimates" and other words of similar meaning. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Kenvue and its affiliates.

A list and descriptions of risks, uncertainties and other factors can be found in Kenvue's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and subsequent Quarterly Reports on Form 10-Q and other filings, available at www.kenvue.com or on request from Kenvue. Kenvue and its affiliates undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or developments or otherwise.

¹ Applies to all Kenvue-owned facilities where Kenvue has operational control, regardless of building type; all leased facilities used for manufacturing and/or research & development; and leased, non-manufacturing and/or non-research & development facilities where the facility is greater than 50,000 square feet and where Kenvue has operational control. The 2020 baseline includes all facilities aligned to Kenvue's structure upon separation from Johnson & Johnson in 2023 and does not include any operational or organizational exclusions. Scope 1 are greenhouse gas (GHG) emissions that Kenvue directly generates - e.g., running boilers and vehicles using fossil fuels. Scope 2 are GHG emissions that Kenvue indirectly generates - from electricity or energy purchased for heating and cooling buildings.

²The target boundary includes land-related emissions and removals from bioenergy feedstocks.

³ The inventory was compiled in accordance with the WRI/WBCSD Greenhouse Gas (GHG) Protocol - A Corporate Accounting and Reporting Standard (Revised Edition 2013) including the amendment to this protocol, GHG Protocol Scope 2 Guidance (2015).

⁴ We aim to meet the goal by end of fiscal year and publish the year after.

View additional multimedia and more ESG storytelling from Kenvue on 3blmedia.com.

Contact Info:
Spokesperson: Kenvue
Website: https://www.3blmedia.com/profiles/kenvue
Email: info@3blmedia.com

SOURCE: Kenvue

View the original press release on accesswire.com

FAQ

What are Kenvue's near-term greenhouse gas emissions reduction targets?

Kenvue aims to reduce absolute Scope 1 and 2 GHG emissions by 42% by 2030 from a 2020 base year.

What is the Science Based Targets initiative (SBTi)?

SBTi validates companies' greenhouse gas emissions reduction targets to align with global climate action goals.

How does Kenvue plan to involve its suppliers in emissions reduction efforts?

Kenvue aims for 75% of its suppliers to have science-based targets for emissions by 2028.

What is Kenvue's Healthy Lives Mission?

Kenvue's Healthy Lives Mission focuses on advancing the well-being of people and the planet.