McCormick & Company Receives SBTi Validation of Greenhouse Gas Emission Reduction Targets

Rhea-AI Summary

McCormick & Company (NYSE: MKC) announced that its emission reduction targets have been approved by the Science Based Targets Initiative (SBTi), aligning with the Paris Agreement. The company achieved its 2025 greenhouse gas commitments four years early and has increased its goal to reduce absolute scope 1, 2, and 3 emissions by 42% by 2030. This validation highlights McCormick's commitment to sustainability and achieving Net Zero by 2050, reinforcing its role in promoting a sustainable future.

Positive

• Achieved 2025 greenhouse gas commitments four years early.
• Increased goal to reduce absolute greenhouse gas emissions by 42% by 2030.
• SBTi validation emphasizes leadership in sustainability.

Negative

• None.

HUNT VALLEY, Md., Aug. 4, 2022 /PRNewswire/ -- McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today announced that its emission reduction targets have been officially approved by SBTi (The Science Based Targets Initiative) and are consistent with levels required to meet the goals set by the Paris Agreement.  The Company achieved its 2025 greenhouse gas commitments four years early for scope 1 and 2, and recently raised the ambition of its goals to reduce absolute scope 1, 2 and 3 greenhouse gas emissions by 42% by 2030. 

"McCormick is delivering against our ambitious Purpose-led Performance agenda using science-based targets to reduce our impact on the planet we all share.  As a leader in the flavor industry, we embrace the unique role we play in creating a sustainable future for generations to come," said Lawrence Kurzius, Chairman and Chief Executive Officer for McCormick. 

The targets covering greenhouse gas emissions from McCormick's operations (scope 1 and 2) are consistent with reductions required to keep global warming to 1.5°C, which is what the latest climate science says is needed to prevent the most damaging effects of climate change.  McCormick's target for the emissions from its value chain (scope 3) meet SBTi's criteria and are in line with best practices.  "We are extremely pleased to be one of a select number of companies to achieve SBTi validation.  We believe in leveraging science to achieve all of our greenhouse gas emission reduction goals as well as our Net Zero by 2050 commitment." said Michael Okoroafor, McCormick's Chief Sustainability Officer.

About McCormick

McCormick & Company, Incorporated is a global leader in flavor.  With over $6 billion in annual sales across 170 countries and territories, we manufacture, market and distribute spices, seasoning mixes, condiments and other flavorful products to the entire food industry including e-commerce channels, grocery, food manufacturers and foodservice businesses.  Our most popular brands with trademark registrations include McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane and Gourmet Garden.  Every day, no matter where or what you eat or drink, you can enjoy food flavored by McCormick.

Founded in 1889 and headquartered in Hunt Valley, Maryland USA, McCormick is guided by our principles and committed to our Purpose – To Stand Together for the Future of Flavor. McCormick envisions A World United by Flavor where healthy, sustainable and delicious go hand in hand. To learn more, visit www.mccormickcorporation.com or follow McCormick & Company on Twitter, Instagram and LinkedIn.

For information contact:

Corporate Communications:
Lori Robinson - lori_robinson@mccormick.com

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SOURCE McCormick & Company, Incorporated

FAQ

What greenhouse gas emission reduction targets has McCormick (MKC) announced?

McCormick has announced targets to reduce absolute scope 1, 2, and 3 greenhouse gas emissions by 42% by 2030.

When did McCormick (MKC) achieve its greenhouse gas commitments?

McCormick achieved its 2025 greenhouse gas commitments four years early.

What initiative approved McCormick's (MKC) emission reduction targets?

The Science Based Targets Initiative (SBTi) approved McCormick's emission reduction targets.

What does McCormick (MKC) aim to achieve by 2050?

McCormick aims to achieve Net Zero greenhouse gas emissions by 2050.