Tetra Pak retains double ‘A’ score for efforts to fight climate change

Recognized by global environmental non-profit CDP

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Tetra Pak retains double ‘A’ score for efforts to fight climate change
Lars Holmquist, executive vice president, Sustainability & Communications at Tetra Pak

Tetra Pak has been recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for the third year running for tackling climate change and acting to protect forests, two of the three environmental themes covered by CDP. 

CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$ 110 trillion in assets and 200 major purchasers with US$ 5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks, and opportunities through CDP’s platform. A record-breaking 13,000+ companies responded.

CDP uses a detailed and independent methodology to assess these companies, allocating a score of ‘A’ to ‘D,’ based on the comprehensiveness of disclosure, awareness, and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those who don’t disclose or provide insufficient information are marked with an ‘F.’ 

Tetra Pak on reducing GHG emissions 

CDP’s scoring for forests is conducted through the lens of the four commodities that cause most deforestation – timber products, cattle products, soy, and palm oil. Companies need to score an ‘A’ on at least one of these forest-risk commodities to earn a place on the Forests’ A-List. 

Lars Holmquist, executive vice president, sustainability & communications at Tetra Pak, said, “We believe that decarbonizing the food sector is vital in the race to net zero, and a key enabler for this ambitious goal is being transparent in our own actions. We’re delighted to be included in the CDP leadership band for the sixth time, as it recognizes we are taking the right steps on combating climate change and minimizing deforestation risks.”

“Last year, we pledged to reach net-zero GHG emissions in our own operations by 2030 while setting ourselves a net-zero ambition across the value chain by 2050. Our revised SBTi-approved target across all scopes 1, 2 & 3 means – amongst other things – reaching 46% GHG reduction across the value chain by 2030, in line with a 1.5°C pathway. This is what the latest climate science has told us is needed to prevent the most damaging effects of climate change, and we are fully committed to play our part.”

Paul Simpson, chief executive officer of CDP, said, “Many congratulations to all the companies on this year’s A-List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s sixth assessment report. The risk scale to businesses from climate change, water insecurity, and deforestation can no longer be ignored. We know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature-positive, and equitable world. Our A-List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”

 

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