P&G Embraces Natural Climate Solutions to Accelerate Progress on Climate Change and Will Make Operations Carbon Neutral for the Decade
The Procter & Gamble Company (NYSE:PG) 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. Recognizing 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.
P&G’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.
A Critical Window
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.”
Natural Climate Solutions: “Nature alone can solve up to one-third of climate change”
P&G will partner with Conservation International and World Wildlife Fund (WWF) to identify and fund a range of projects designed to protect, improve and restore critical ecosystems like forests, wetlands, grasslands and peatlands. In addition to sequestering more carbon, an important aspect of natural climate solutions is the potential to deliver meaningful environmental and socioeconomic co-benefits that serve to protect and enhance nature and improve the livelihoods of local communities. As P&G moves forward, the company will seek to identify, measure and communicate relevant co-benefits from its investment in nature.
P&G is developing a detailed project portfolio and investing in projects across the globe. Projects already identified include:
- Philippines Palawan Protection Project with Conservation International - To protect, improve and restore Palawan’s mangroves and critical ecosystems. Palawan is the world’s fourth most “irreplaceable” area for unique and threatened wildlife.
- Atlantic Forest Restoration Planning with WWF - In the Atlantic Forest on Brazil’s east coast, laying the groundwork for forest landscape restoration with meaningful impacts on biodiversity, water, food security and other co-benefits for local communities.
- Evergreen Alliance with Arbor Day Foundation - Bringing corporations, communities and citizens together to take critical action to preserve the necessities of life affected by climate change—including planting trees to restore areas devastated by wildfires in Northern California and enhance forests in Germany.
“Nature must be a key part of any strategy to combat the climate crisis,” said Dr. M. Sanjayan, CEO of Conservation International. “Research shows that we cannot meet our climate goals unless we protect, restore and improve the management of carbon-rich ecosystems. Done right, these efforts can deliver a third of the emissions reductions needed within the next decade, and importantly, support the livelihoods of communities on the front lines of climate change. We’re delighted to be working with Procter & Gamble to protect nature – an investment that is a win for people and our planet.”
“We’ve worked with P&G to drive climate progress and safeguard forests for over a decade, because the scope of their business means they can deliver results at a scale that matters,” said Carter Roberts, U.S. President and CEO of WWF. “Importantly, that progress hasn’t been limited to their own corporate footprint. P&G was an early partner in the Renewable Energy Buyers Alliance, which has helped expand corporate renewable energy procurements across the United States. Today’s announcement marks further progress by putting a greater focus on the role that preserving nature can play – not just in absorbing carbon emissions, but in providing the services and resources that sustain life on earth. We look forward to working with P&G to achieve these new commitments over the next decade.”
P&G Brands take the lead on carbon footprint reduction and climate positive habit changes
Committing to going beyond its Science Based Target for reducing operational emissions is important, but the Company will not stop there. For more than two decades, P&G has been committed to harnessing the scientific rigor of the Life Cycle Assessment of its products to better understand the emissions from its supply chain and consumer use of its products (Scope 3 emissions). Up to 85% of P&G’s Scope 3 emissions are from consumer use of its products. P&G reaches five billion people through its brands, and with this scale comes a responsibility to give consumers the power to reduce their own carbon footprints with products that are designed to help save energy, water and natural resources.
- More than 60% of a laundry detergent’s footprint is in the consumer use phase, mostly related to the energy used to heat the water. Ariel and Tide have been optimizing detergent formulas for high efficiency in low temperature washing and inspiring positive “Turn to 30” and “Cold Water Wash” laundry behaviors. The goal is to have 70% of machine loads be low-energy cycle loads, and major progress has been achieved by educating consumers in the U.S. over the last ten years on the benefits of low-energy wash cycles. P&G estimates that since 2015, the avoided emissions from consumers increasing their use of low-energy laundry cycles have been roughly 15 million metric tons of CO2, which is equivalent to taking three million cars off the road.
- Busting a popular myth, Cascade is showing consumers how the dishwasher is designed to be more water and energy efficient than washing in the sink. Cascade and Fairy Automatic Dish Washing Tablets allow consumers to skip pre-wash and save water and the energy needed to heat the water. Fairy and Dawn Dish Washing Liquid’s grease cutting power enables water and energy savings: by reducing the water temperature 20°C (36°F), consumers can save up to 50% CO2 of the total footprint every wash.
“Our role as leaders is to make a lower emission economy and lifestyle possible, affordable and desirable for everyone,” said Virginie Helias, P&G’s Chief Sustainability Officer. “It is our responsibility to protect critical carbon reserves and invest in solutions that regenerate our planet. Consumers also want to do more to address climate change. As a company, we touch five billion people with our brands; we are striving to make a difference every day by encouraging responsible consumption with products that are effective and intuitive to enable adoption of new lower emission habits.”
Today at 8am EST/2pm CET, P&G is convening experts and climate leaders for a roundtable hosted by National Geographic to discuss the power of nature as a climate solution. Participants include P&G CEO David Taylor, P&G Chief Sustainability Officer Virginie Helias, Conservation International CEO Dr. M. Sanjayan, Word Wildlife Fund U.S. CEO Carter Roberts, and climate activists Clover Hogan, Jiaxuan Zhang, Kehkashan Basu and Vanessa Nakate.
To learn more about P&G’s new commitment to advance natural climate solutions and become carbon neutral for the decade, visit our Multi Media Release site.
About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit https://www.pg.com/ for the latest news and information about P&G and its brands.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Eaton Launches New Line of Wireless Mobile Control Solutions for Heavy Machinery and Field Operations14.8.2020 00:51:00 EEST | Press release
Power management company Eaton today announced its eMobility business has launched a new and improved line of Eaton OMNEX Trusted Wireless™ mobile control solutions for heavy machinery and field operations. The 900 MHz two-way remote-control units allow for the wireless control of high-value machinery in harsh environments, including mining, construction, agriculture, locomotive and marine markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200813005826/en/ Eaton's new OMNEX Trusted Wireless™ controllers can remotely operate heavy machinery, such as vacuum trucks, tow trucks, concrete mixers and cranes. (Photo: Business Wire) “Our next generation of rugged, weatherproof OMNEX wireless controllers were designed with customer input, and offer a number of benefits, including enhanced safety and productivity for machine operators,” said Scott Adams, president, eMobility, Eaton. “Overall, we’ve improved upon the reliability a
IFF to Hold Virtual Special Meeting of Shareholders on August 2713.8.2020 23:15:00 EEST | Press release
Regulatory News: IFF (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of taste, scent, and nutrition, announced today that the previously communicated special meeting of shareholders to consider and vote on the issuance of shares of IFF common stock in connection with the previously announced proposed merger of IFF and DuPont’s Nutrition & Biosciences (“N&B”) business pursuant to a Reverse Morris Trust transaction (the “special meeting”) has been changed to a virtual-only meeting due to the continued public health concerns over the COVID-19 outbreak and the health and safety of its shareholders and employees. Accordingly, the special meeting, to be held on Thursday, August 27, 2020 at 10:00 a.m. Eastern Time, will be held only virtually on the Internet at www.virtualshareholdermeeting.com/IFF2020SM. Shareholders will not be able to attend the meeting or vote physically in person. We have designed the format of the special meeting to provide shareholders the same right
PTC Makes Enterprise Version of Onshape Education Suite Available Free of Charge13.8.2020 23:00:00 EEST | Press release
In advance of the 2020-2021 school year, PTC (NASDAQ: PTC) has made the Onshape® Education Suite’s newly-released Enterprise plan available free-of-charge for K-12 schools and universities that register through November 20, 2020. The newest version of the cloud-based, remote learning suite is offered alongside the Onshape Education Standard plan to help alleviate the burden experienced by educational STEM programs during the COVID-19 pandemic. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200813005767/en/ The Onshape Education plans are the educational versions of PTC’s Software as a Service product, designed to enable computer-aided design (CAD) activities in a remote learning environment. The Education Standard plan has been free to educational institutions since 2016 and is available to students and educators who want to use professional-grade CAD that is completely online. The newly released Education Enterprise plan bu
DeltaTrak Enhances Its Cold Chain Restart Program to Help Customers Battle COVID-1913.8.2020 19:00:00 EEST | Press release
DeltaTrak®, a leading innovator of cold chain solutions, is enhancing its Cold Chain Restart Program to offer customers safer and more efficient methods to protect their employees and clients from the COVID-19 pandemic. The program was created to help companies reopen on a safe footing by providing access to critically needed PPE solutions. Following an extremely positive response, DeltaTrak has added the ThermoTrace Auto-Check Non-Contact Infrared Forehead Thermometer and Touchless Hand Sanitizer Dispenser to address the need for effective, contactless and hands-free options for temperature measurement and sanitization. “The increased demand for safety and sanitization equipment is driven by our customers’ need to conduct business safely without jeopardizing the health of employees and customers when it comes to using thermometers and hand sanitizers,” said Frederick Wu, President and CEO of DeltaTrak. “Gaining access to these solutions remains a major challenge and we are confident t
Verimatrix to Sponsor Virtual SportsPro Media INSIDER Series Featuring Broadcasting Experts From the NFL, Octagon, Astro, The FA, European Tour & More13.8.2020 18:35:00 EEST | Press release
Regulatory News: Verimatrix (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Chief Revenue Officer Lu Bolden will join a lineup of sports broadcasting experts to speak on the future of the industry with today’s new need to protect ever-growing amounts of streamed sports and esports. Registration is free. Visit www.insider.sportspromedia.com. With an eye on highlighting the largely unchartered challenges that come with new methods of reaching all types of sports fans, the SportsPro Media INSIDER Series serves as a valuable venue for those seeking to protect revenues when fans are at home instead of stadiums. Traditional sports have found themselves facing the same new business model decisions that esports has organically addressed over the last several years. That makes for a big shift – where new revenue streams are created at warp speed with various streaming and broadcast options for countless typ
Andersen Global Continues African Expansion in Key Markets; Debuts in Mali13.8.2020 16:30:00 EEST | Press release
Andersen Global announces its debut in Mali through a Collaboration Agreement with Bamako-based tax and legal firm Juri-Partner, adding a complementary presence as the organization continues its expansion in key markets throughout Africa. One of the largest firms in Mali, Juri-Partner has grown to include three partners and more than 20 professionals, including two tax specialists. Managing Partner Mamadou Diarra and his team offer a full range of tax and legal services such as business, mining, telecommunications, tax, arbitration and general commercial tax and legal services to private and institutional operations both domestically and internationally. “We strive to create client relationships built on trust and transparency and are committed to stewardship and independence,” Mamadou said. “Business is becoming increasingly global, and clients’ needs can vary depending on country and jurisdiction. By combining Andersen Global’s breadth of coverage and expertise with our local depth o
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