Electrolux Group has once again been recognized for its leadership in corporate transparency and performance on climate change by global environment non-profit CDP, achieving an "A" score.
STOCKHOLM, Feb. 6, 2024 /PRNewswire/ -- Electrolux Group is one of a small number of companies that achieved an ''A'' – out of more than 21,000 companies scored. * This is the seventh time Electrolux Group has achieved an A score for the CDP Climate.
CDP's annual environmental disclosure and scoring process is a widely recognized measure of strong corporate environmental transparency. The NGO holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. In 2023, over 740 financial institutions with over US$ 136 trillion in assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform.
"This is a fantastic achievement and recognition of everyone's efforts at Electrolux Group. We all contribute to reducing our climate impact through everything from using less energy in our operations, to designing and selling more efficient products to consumers. But we cannot do this alone, and we need to continue to partner throughout the value chain," says Elena Breda, Chief Technology & Sustainability Officer.
"Earning a place on the A List is about more than the score. It's an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions," says Sherry Madera, CEO of CDP.
Electrolux Group is continuing its work to tackle climate change and recently announced its second science-based climate target to reduce greenhouse gas emissions in products and operations, in support of the Paris climate agreement. The new target, which comes after the Group achieved its previous science-based target three years ahead of plan, aims to reduce the company's direct and indirect emissions resulting from its own operations (scope 1 and 2) by 85% between 2021 and 2030 (a 97% reduction by 2030 compared to 2015). It also aims to reduce the Group's absolute scope 3 emissions (use of sold products, materials, transport of products and business travel) by 42% between 2021 and 2030.
CDP is an international non-profit that runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. Thousands of companies submit annual climate disclosures to CDP for independent assessment against its scoring methodology. Read more here.
Source: *Based on data reported through CDP's 2023 Climate Change questionnaire.
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