The Estée Lauder Companies Reaches Milestone Climate Goals – Net Zero, RE100 – and Sets New Science-Based Targets
Today, The Estée Lauder Companies (ELC) announced that it has achieved Net Zero emissions and sourced 100% renewable electricity globally for its direct operations, reaching the target it set on joining RE1001.Building upon this achievement, the company has also met its goal to set science-based emissions reduction targets for its direct operations and value chain, positioning the company to take even more decisive action against climate change in the coming decade.
“Today’s announcement signals a new level of ambition and dedication to climate action for The Estée Lauder Companies. Setting ambitious targets in line with the latest climate science is testament to our values and commitment to managing our business for the long term,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies. “In this decisive decade for climate action, we will continue to accelerate efforts to ensure a healthy, beautiful planet for generations to come.”
To achieve its Net Zero emissions and RE100 goals by 2020, ELC focused first and foremost on reducing its operational carbon footprint by deploying high-quality solutions and investing in projects bringing additional renewable energy to the grid. The portfolio approach includes signing a Virtual Power Purchase Agreement (VPPA) for 22 megawatts (MW) of wind power from the Ponderosa wind farm in Oklahoma, sealing the company’s largest renewable energy agreement to-date. The Ponderosa wind farm alone will cover more than half of the company’s electricity footprint with renewable energy technologies.
ELC further added to its global renewable energy portfolio by installing ground-mount and rooftop on-site solar arrays at its facilities around the world, bringing the company’s global total to more than 5 MW of solar capacity. In markets where ELC operations have a comparatively smaller carbon footprint, the company procured renewable energy certificates (RECs) or their international equivalent to support local renewable energy generation. To address any remaining annual emissions from operations, ELC purchased offsets from the Massachusetts Tri-City Forestry project in North America, which protects 6,500 acres of public forestland from significant commercial timber harvesting and ensures long-term sustainable management of the forest.
Helen Clarkson, Chief Executive Officer, the Climate Group, said, “We congratulate The Estée Lauder Companies on their fantastic work to switch to renewable electricity globally. When large companies like The Estée Lauder Companies set their sights on an ambitious target, they can achieve huge change at a rapid pace. This is exactly the sort of leadership we need to see in the climate decade, as we work to halve global emissions.”
ELC’s new climate targets reinforce a legacy of managing the company with a lens for the long-term and focusing on the needs of future generations. The targets address Scopes 1, 2, and 3 emissions and are independently validated and approved by the Science Based Target initiative (SBTi):
- The Estée Lauder Companies commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2018 base year. This target is consistent with reductions required to keep warming to 1.5°C, the most ambitious goal of the Paris Agreement.
- The Estée Lauder Companies also commits to reduce scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, and business travel 60% per unit revenue over the same timeframe. This target for the emissions from ELC’s value chain (Scope 3) meets the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice.
To take on the broader scope of addressing carbon impacts beyond its direct operations, ELC will build on its successes and learnings from achieving Net Zero and RE100. In doing so, the company intends to implement integrated solutions and foster joint value creation with supply chain partners and third-party manufacturers.
“The Estée Lauder Companies has been deeply committed to climate action for many years and, in 2020, we not only stayed true to our commitments, but took steps to further accelerate progress. At such a critical time for our planet and communities around the world, we know this work is more important than ever,” said Nancy Mahon, Senior Vice President, Global Corporate Citizenship and Sustainability of The Estée Lauder Companies. “The events of this year have only underscored the urgency and imperative of climate action and we’re committed to doing our part, collaborating with partners to tackle one of the greatest challenges of our time.”
For more information on ELC’s commitments and targets on climate, visit the fiscal year 2020 Citizenship and Sustainability Report.
Cautionary Note Regarding Citizenship and Sustainability Information:
This press release contains information about our citizenship and sustainability goals and efforts. Achievement of the goals involves certain risks and uncertainties, such as changes in our business (e.g., acquisitions, divestitures or new manufacturing or distribution locations), the standards by which achievement is measured, the assumptions underlying a particular goal and our ability to accurately report particular information. Actual results could differ from our stated goals or the results we expect. We also may change, or decide not to pursue, certain goals or initiatives. Moreover, the standards by which citizenship and sustainability efforts and related matters are measured are developing and evolving, and certain areas are subject to assumptions. The standards and assumptions could change over time. In addition, statements made about the company, its business or efforts may not apply to all business units (e.g., ones that are recently acquired). We assume no responsibility to update the information contained in this press release or to continue to report any information.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, BECCA, Too Faced and Dr. Jart+.
1 ELC joined the RE100 campaign in 2017. Please see www.there100.org for more information.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Media: Bari Seiden-Young
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Cazoo Launches in France and Germany1.12.2021 13:27:00 CET | Press release
Cazoo (NYSE: CZOO), Europe’s leading online car retailer, which makes buying and selling a car as simple and seamless as ordering any other product online, today announced that it has now launched its service in both France and Germany, delivering better selection, value, transparency, convenience and peace of mind to consumers in mainland Europe when buying their next car. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211201005572/en/ (Photo: Business Wire) Cazoo owns and reconditions its cars to the highest standard before offering them for delivery in just a few days and has hundreds of cars available in France (www.cazoo.com/fr) and Germany (www.cazoo.com/de). With customers able to purchase a car entirely online and have it delivered directly to their door, Cazoo has been referred to as the ‘Amazon of the used car market’. Cazoo customers can review high quality, 360-degree images from the comfort of their home as well
Finsbury Glover Hering and Sard Verbinnen & Co. Complete Merger, Creating Global Strategic Communications Leader1.12.2021 12:30:00 CET | Press release
Following their announcement on October 13, 2021, Finsbury Glover Hering and Sard Verbinnen & Co. (“SVC”) have completed their merger to create the world’s leading strategic communications firm advising clients in navigating critical opportunities and challenges. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211201005402/en/ The firm brings together over 1,000 communications professionals, operating from 25 offices in Asia, Europe, the Middle East and the United States, including its global headquarters in New York. The new firm is a leader in all aspects of strategic communications, including government affairs, corporate reputation, crisis management and transformation and change, as well as the leading force in financial communications worldwide. Its professionals have deep sector knowledge within rapidly growing industries, such as Health, Tech, Food and Agriculture and Renewable Energy, as well as expertise in Diversit
Wella Company Celebrates Its First Year as an Independent Company by Exceeding Growth Targets, Introducing Breakthrough Innovation and Broadening Leadership Capabilities1.12.2021 12:00:00 CET | Press release
Wella Company, a global leader in the $100 billion beauty industry, today celebrates its one-year anniversary as a stand-alone company. Wella Company has a top professional and retail hair, beauty tech and nail portfolio of iconic brands including Wella Professionals, Clairol, OPI, Nioxin, Sebastian Professional and ghd. The Company, founded in Germany in 1880, returned to independent operating status on December 1, 2020, led by global investment firm Kohlberg Kravis and Roberts (“KKR”) investing a majority-equity stake, which they have twice increased over the past year. Wella Company emerged in the midst of the global COVID-19 pandemic, during which almost the entire professional salon industry – the company’s core customer base – was in lockdown. Despite this challenging global environment, the company set its growth strategy, focused on building the operating foundation for stand-alone success, and hired nearly 1,100 people across the globe, including a roster of top beauty, retail
Pioneer Completes Acquisition of Kodoku Studios1.12.2021 10:59:00 CET | Press release
Pioneer Media Holdings Inc. (“Pioneer” or the “Company”) is pleased to announce that, further to its news release dated October 28, 2021, it has completed its acquisition of Kodoku Studios Limited (“Kodoku”). Kodoku is a studio based in London, England, in the business of developing and publishing NFT (or non-fungible token) games. Its current focus is “The Pit,” a platform for gamers to stake their NFTs, which also allows gamers to attempt to increase the inherent value of their NFTs through “NFT warfare” in a “player vs. player” (PVP) gaming arena, anticipated to launch December 3, 2021. Hewie Rattray, CEO of Kokoku commented, “I am positively thrilled by the acquisition of Kodoku by Pioneer. We relish the opportunity to exercise our vision in the NFT gaming market under the guidance of such an innovative company. We eagerly anticipate unifying with the Pioneer trajectory as we push the frontiers of the metaverse to new limits.” In consideration of all of the securities of Kodoku, th
ATG to Use Ethical Hackers to Rein in Cybersecurity Challenges in Partnership With YesWeHack1.12.2021 10:00:00 CET | Press release
YesWeHack, Europe’s leading bug bounty platform has partnered with Sweden headquartered ATG, to identify potential vulnerabilities on its exposed assets. ATG provides quality excitement and entertainment through horse betting, sports betting and casino games for approximately 1.4 million customers. ATG is constantly evolving to meet new technology demands, increased data access, faster connections, and new digital channels. It is at the forefront of using digital technology to offer content-rich, personalised, and constantly available entertainment while meeting stricter regulation, digitalisation, and higher customer demands. Like other industries that retain extensive customer data, the sports betting and gambling industry is particularly vulnerable to cyber threats. In addition to the games themselves, ATG maintains databases that contain a wealth of private and financial information. It has payment systems and apps that hackers can target. Meanwhile, one of the most significant cha
Nordic Enterprises Embrace Cloud Services to Improve Customer Experience1.12.2021 10:00:00 CET | Press release
Enterprises in the Nordic region are increasing their spending on public cloud services and digital transformation to improve customer experiences, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2021 ISG Provider Lens™Public Cloud – Services & Solutions Report for the Nordics finds enterprises in the region also increasing cloud spending to expand their product and service portfolios across the globe. In response, public cloud service providers are focused on improving their digital transformation advisory services. Cloud spending in the Nordics has increased across all industry verticals over the last five to six quarters. “Enterprises in the Nordic region have embraced the cloud and emerging digital technologies to become more cost effective and enhance customer experience,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Companies are also looking for
Amazon Investing in 274 Renewable Energy Projects Globally, Adds 18 New Projects in Europe and U.S.1.12.2021 09:01:00 CET | Press release
Amazon (NASDAQ: AMZN) today announced 18 new utility-scale wind and solar energy projects across the U.S., Finland, Germany, Italy, Spain, and the U.K., totaling 5.6 gigawatts (GW) of procured capacity to date in 2021. Amazon now has 274 renewable energy projects globally and is on a path to power 100% of its business operations with renewable energy by 2025—five years earlier than its original 2030 commitment. These new utility-scale wind and solar projects bring Amazon’s total committed renewable electricity production capacity to more than 12 GW and 33,700 gigawatt hours (GWh) when the projects become fully operational, or electricity output equivalent to powering more than 3 million U.S. homes for a year. The projects will supply renewable energy for Amazon’s corporate offices, fulfillment centers, and Amazon Web Services (AWS) data centers that support millions of customers globally. The projects will also help Amazon meet its commitment to produce the clean energy equivalent of t
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom