Mexico City-based Grupo Bimbo, the largest baking company in the world with brands including Entenmann’s and Sara Lee announced today a series of new climate goals, including a commitment to achieve net zero value chain emissions by 2050.
The company stated that its net zero pledge covers all emission scopes and activities, encompassing operations, logistics, sales, procurement, and marketing.
Food and beverage sector emissions account for about a third of global GHG emissions and are among the most difficult to address, with the vast majority coming from the supply chains of food and beverage companies, rather than from “direct” emissions from the companies’ operations. A recent report from climate-focused investor engagement group Climate Action 100+ found that in order to meet science-based emissions reduction targets, individual companies and the sector as a whole will need to address emissions from areas including agriculture and land use, with a total reduction in land-based Scope 3 emissions of 85% necessary to reach net zero by 2050.
Grupo Bimbo unveiled several interim climate targets as part of its net zero roadmap, including eliminating scope 2 emissions (indirect emissions from energy procurement) by switching to 100% renewable energy use by 2025, and reductions of 50% in scope 1 (direct emissions) and 28% in scope 3 (indirect emissions) by 2030. In addition to sourcing renewable energy, initiatives will include moving to lower carbon logistics and vehicles, implementing energy efficiency strategies, and supporting suppliers and partners in addressing their own emissions.
The company stated that its climate goals have been validated by the Science Based Targets initiative, and with its new commitments, Grupo Bimbo has become the first Mexican food company to commit to Business Ambition for 1.5°C and to join the United Nation’s Race to Zero Campaign. Race to Zero is a global campaign designed to rally leadership and support from businesses, cities, regions, and investors committed to achieving net zero carbon emissions by 2050 at the latest, launched under the stewardship of the United Nations Framework Convention on Climate Change (UNFCCC). Business Ambition for 1.5°C is an SBTi-led initiative calling on companies to commit to set ambitious science-based emissions reduction targets in line with a 1.5°C future.
Daniel Servitje, Grupo Bimbo’s Chairman and CEO said:
“I am proud that Grupo Bimbo can continue contributing to the United Nation’s Sustainable Development Goals and is actively looking for ways to limit the damaging effects of global warming. Our new sustainability platform has been defined with long term ambitious goals which are intimately linked to our purpose, to nourish a better world. Grupo Bimbo is a company with a long track record on Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. and Environmental criteria consider how a company performs as a steward of nature. initiatives, as we launch our new platform, we are taking the necessary steps towards fully integrating sustainability with our overall business strategy and publicly committing to continue positively impacting the future.”
The post Baked Goods Giant Grupo Bimbo Pledges to Reach Net Zero Value Chain Emissions by 2050 appeared first on ESG Today.