The Estée Lauder Companies (ELC) has joined environmental non-profit Carbon Disclosure Project’s (CDP) prestigious CDP 2020 Climate A List.
The beauty giant was recognised as a leader on corporate climate action and for the significant improvement on the A-score it achieved in 2019.
The CDP is the leading global framework for disclosing climate-related public information. The CDP Climate A List includes 5,800 other companies who ranked within the top 5% of CDP’s climate framework.
The achievement underlines ELC’s commitment to its 2020 climate goals, which includes achieving Net Zero carbon emissions and 100% renewable electricity globally for its direct operations and setting science-based targets across its value chain.
As reported, The Estée Lauder Companies has committed to reduce scope 1 and 2 greenhouse gas emissions by 50% in 2030. This target is consistent with reductions required to keep global warming to 1.5°C, based on the Paris Agreement. Scope 1 covers direct emissions from controlled sources and while scope 2 cover indirect emissions from purchased electricity, steam and heating.
It has also committed to reducing scope 3 greenhouse gas emissions from purchased goods and services, transportation, distribution and business travel by 60% per unit revenue by 2030.
“Climate change is one of the most important issues facing our communities around the world,” said The Estée Lauder Companies President and Chief Executive Officer Fabrizio Freda.
“The Estée Lauder Companies is committed to partnering with our employees, consumers and business partners to accelerate the transition to a low-carbon economy by reducing our carbon footprint and investing in green energy solutions.
“Our continued focus on environmental disclosure and transparency, as well as our setting of new science-based targets, will deepen the impact of our efforts to combat climate change in this critical decade for the planet. As a global corporate citizen committed to climate action, The Estée Lauder Companies is incredibly honoured to see its efforts recognized in CDP’s Climate A List.”
Carbon Disclosure Project Chief Executive Officer Paul Simpson added, “We extend our congratulations to all the companies on this year’s Climate A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make and is even more impressive in this challenging year marked by COVID-19.
“The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our Climate A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”