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GENEVA, Feb. 9, 2021 /PRNewswire/ -- Firmenich, the world's largest privately owned fragrance and taste company, today ranked on the CDP Supplier Engagement Leaderboard 2020, setting the pace in environmental leadership. The leaderboard highlights the top 7% of companies that engage with their global supply chains on climate reporting and managing carbon emissions via CDP. This is Firmenich's fourth recognition from the gold standard in corporate environmental reporting this year, adding to the Group's third consecutive CDP Triple "A" score in climate, water, and forests management.
"It is a great honor to be one of only ten companies in the world to be ranked by CDP on its Supplier Engagement Leaderboard and to achieve triple "A" status for climate change, water security, and forests," said Gilbert Ghostine, CEO Firmenich. "This fourth top score marks world-class recognition of our environmental performance and illustrates how Firmenich's sustainability leadership is well entrenched within our company and beyond, with a positive impact on our supply chain."
"Companies' emissions don't end at the factory door. CDP data shows a company's supply chain emissions are, on average, over 11.4 times greater than its direct emissions. Meaningful corporate climate action means engaging with suppliers to reduce emissions across the value chain," said Sonya Bhonsle, Global Head of Value Chains, CDP. "We congratulate Firmenich for making it on to the CDP Supplier Engagement Leaderboard. This demonstrates that they are setting the pace in environmental management and their commitment to reduce emissions and lower environmental risks across their supply chain."
"We were the first perfume and taste company to engage with our suppliers through CDP when we started disclosing our environmental performance more than 10 years ago," said Neil McFarlane, Senior VP Quality, Health, Safety, Security & Environment, Firmenich. "As we power towards carbon neutrality in our direct operations by 2025, we are very proud of this achievement highlighting the incredible work done by our environmental and procurement teams, and hope it will inspire other companies to develop their own path towards zero impact."
This is the Group's third consecutive listing on CDP's annual Supplier Engagement Leaderboard. CDP assessed more than 5,000 companies on their supply chain engagement strategies, with almost 400 (7%) companies earning a place on the Leaderboard. Discover the business case for supply chain action and how it improves competitiveness and resilience in CDP's Transparency to Transformation: A Chain Reaction.
Learn more about Firmenich's ambitious 2025 and 2030 ESG targets here.
The Group's 2020 environmental initiatives and performance are detailed in its Performance and Sustainability Report 2020.
About Firmenich
Firmenich, the world's largest privately-owned fragrance and taste company, was founded in Geneva, Switzerland, in 1895, and has been family-owned for 125 years. Firmenich is a leading business-to-business company specialized in the research, creation, manufacture and sale of perfumes, flavors and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science and taste modulation. Firmenich had an annual turnover of 3.9 billion Swiss Francs at end June 2020. More information about Firmenich is available at www.firmenich.com
About CDP
CDP is a global non-profit that drives companies, cities and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP's platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP, formerly Carbon Disclosure Project, is a founding member of the We Mean Business coalition. http://www.cdp.net/en/cities or follow us @cdp to find out more.
