The company scored a triple A rating from CDP, an international non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests.
Firmenich is the world's largest privately-owned perfume and taste company, and its triple A score suggests fragrance is leading when it comes to how industries are responding to the rising demand for sustainable practice across consumer goods supply chains.
L’Oréal is the other company to have been recognised with a triple A rating, with the CDP’s full rankings available to explore here.
‘Inclusive capitalism’
Firmenich states that its success comes down to its commitment to the idea of ‘inclusive capitalism’.
"We are immensely proud to be one of only two companies globally to have achieved CDP's triple "A" ranking," said Gilbert Ghostine, CEO, Firmenich. "Ever since we made our first public environmental commitment three decades ago, we have been leading real change in sustainable business. We owe this year's outstanding result to our teams' deep belief in inclusive capitalism, committed to making a positive difference for our customers, people and the planet."
Sonya Bhonsle, Global Head Supply Chain at CDP, commented: "We congratulate Firmenich for making it onto CDP's A Lists this year for its actions to tackle climate change, deforestation and water security.
“This achievement demonstrates the company's continuing commitment to scaling up environmental action, in order to meet the Paris Agreement and Sustainable Development Goals. As a CDP supply chain member it provides leadership to suppliers by demonstrating best practice and showing what can be achieved."
Carbon neutral vision: 2020
How is Firmenich acting to become a sustainable fragrance company?
In 2015, the company announced its vision to become a carbon neutral company as well as its ambitious Environmental Goals for 2020.
One of only 160 companies worldwide to have approved science-based targets, the Swiss company committed to operating with 100% renewable electricity or offsets, along with a 20% reduction in absolute CO2 emissions and a 25% decrease of water use in water stressed areas.
On track to deliver these goals, the perfume and taste company currently operates with 100% renewable electricity across all of its US and European manufacturing sites.
Firmenich's 2020 environmental goals and commitments to climate change mitigation, "Performance and Sustainability Report 2018", can be viewed here.
