35
Active ownership
Introduction
ESG integration
Climate change
Partnership with Prudential
Community and people
A final word
Milestone 3 C ompany has agreed to address the issue
A global food supply chain company.
Management was very keen to transition from coal-fired fuel to other fuels, especially biomass. However, the change in coal sources requires the approval of local and state governments. CSO mentioned that the company has yet to seek government approval and is preparing the necessary documentation. We rate this company as Milestone 3 because the company has agreed to set and disclose a long-term target by 2050, primarily based on the guidance of SBTi.
The company has provided adequate disclosure to CDP, shared details on its decarbonisation strategy, and has also set a medium-term target by 2035 for its Scope 1 and 2 carbon emissions. However, there was no mention of a long-term target to 2050. We had a virtual meeting with the Chief Sustainability Officer (“CSO”), who agreed that the company needs to set a long-term target for carbon emissions reduction and explained that the company was committed to guidance from the Science- Based Targets Initiative (“SBTi”). The climate-related network has just developed a draft for the forestry and agriculture sector. The CSO planned to use the SBTi’s guidance as the basis for a long-term target for the company.
Made with FlippingBook - Share PDF online