Net Zero Emissions for Estée Lauder Companies

The Estée Lauder Companies (ELC) says it has achieved Net Zero emissions and sourced 100% renewable electricity globally for its direct operations, reaching the target it set on joining RE1001.  Building upon this achievement, the company has also met its goal to set science-based emissions reduction targets for its direct operations and value chain, positioning the company to take even more decisive action against climate change in the coming decade.
 
“Today’s announcement signals a new level of ambition and dedication to climate action for The Estée Lauder Companies. Setting ambitious targets in line with the latest climate science is testament to our values and commitment to managing our business for the long term,” said Fabrizio Freda, president and CEO of The Estée Lauder Companies. “In this decisive decade for climate action, we will continue to accelerate efforts to ensure a healthy, beautiful planet for generations to come.”
 
To achieve its Net Zero emissions and RE100 goals by 2020, ELC focused first and foremost on reducing its operational carbon footprint by deploying high-quality solutions and investing in projects bringing additional renewable energy to the grid. The portfolio approach includes signing a Virtual Power Purchase Agreement (VPPA) for 22 megawatts (MW) of wind power from the Ponderosa wind farm in Oklahoma, sealing the company’s largest renewable energy agreement to-date. The Ponderosa wind farm alone will cover more than half of the company’s electricity footprint with renewable energy technologies.
 
ELC further added to its global renewable energy portfolio by installing ground-mount and rooftop on-site solar arrays at its facilities around the world, bringing the company’s global total to more than 5 MW of solar capacity. In markets where ELC operations have a comparatively smaller carbon footprint, the company procured renewable energy certificates (RECs) or their international equivalent to support local renewable energy generation. To address any remaining annual emissions from operations, ELC purchased offsets from the Massachusetts Tri-City Forestry project in North America, which protects 6,500 acres of public forestland from significant commercial timber harvesting and ensures long-term sustainable management of the forest.
 
ELC’s new climate targets reinforce a legacy of managing the company with a lens for the long-term and focusing on the needs of future generations. The targets address Scopes 1, 2, and 3 emissions and are independently validated and approved by the Science Based Target initiative (SBTi):
 
The Estée Lauder Companies commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2018 base year. This target is consistent with reductions required to keep warming to 1.5°C, the most ambitious goal of the Paris Agreement.