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Procter & Gamble goes beyond its existing Science Based Target of reducing greenhouse gas emissions by 50% by additionally advancing a portfolio of natural climate solutions
The Procter & Gamble Company has announced a new commitment to have its global operations be carbon neutral for the decade through a series of interventions that protect, improve and restore nature.
Recognising the next decade represents a critical window for the world to accelerate progress on climate change, P&G will go beyond its existing Science Based Target of reducing greenhouse gas emissions by 50% by additionally advancing a portfolio of natural climate solutions.
These efforts will deliver a carbon benefit that balances any remaining emissions over the next 10 years, allowing P&G operations to be carbon neutral for the decade. Based on current estimates, the Company will need to balance ~30 million metric tons of carbon from 2020 to 2030.
Procter & Gamble’s priority continues to be reducing emissions. P&G has an existing goal of reducing greenhouse gas emissions by 50% and purchasing 100% renewable electricity by 2030 and is on track to deliver on its 2030 commitments. In addition, P&G will continue pursuing new wind, solar and geothermal projects to further accelerate the transition to renewables.
These efforts are aligned with what climate science says is needed to help ensure the Company does its part to limit global temperature increase and will continue well beyond 2030. However, based on today’s technologies, there are some emissions that cannot be eliminated by 2030. By investing in natural climate solutions, the Company will accelerate its impact over the next 10 years.
Recent reports have highlighted that the world is falling short of the greenhouse gas emission reductions needed and that the next decade represents a critical window to reduce emissions and be on a path to limiting temperature increase to 1.5°C.
That task will get much harder if society doesn’t start curbing emissions before the decade ends. By 2050, carbon emissions must fall to zero, or close to it. Failure to act now will put future generations at greater risk from climate change impacts and make achieving the global targets of the Paris Accord more difficult.
“Climate change is happening, and action is needed now,” said David Taylor, P&G Chairman, President and Chief Executive Officer. “By reducing our carbon footprint and investing in natural climate solutions, we will be carbon neutral for the decade across our operations and help protect vulnerable ecosystems and communities around the world.”
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