We continue to make good progress in our journey to reach climate net zero by 2050.
In 2023, we partnered with Planet FWD, a leading carbon management consultancy specialising in the food and agriculture industry. The partnership has enabled us to improve our methodology for measuring emissions and enhancing the quality of our supply chain (Scope 3) data.
Our total Scope 3 emissions for 2022 were calculated for our top four markets – the US, UK, France and Australia, representing 78% of our global revenues – using a hybrid volume and spend approach, and we extrapolated this for our smaller markets. We particularly focused on increasing the quality of data for purchased goods, the most significant source of emissions from our baseline. This improvement in data quality has resulted in more detailed estimates of food-related emissions and lower emissions estimates for 2022.
Throughout 2024 and beyond, we are working to align with the new Forest, Land and Agriculture (FLAG) Guidance under the Science Based Targets initiative (SBTi).
We will also be embarking on the next phase of our journey with Planet FWD, using its industry-leading technology to manage our data when reporting emissions across our largest markets and to identify opportunities where our businesses can collaborate with clients to support their carbon reduction initiatives.
Our strategy to accelerate decarbonisation is based on four key levers:
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