Recognizing the next decade represents a critical window for the world to accelerate progress on climate change, P&G will go beyond its existing reduction of greenhouse gas emissions by 50% by additionally advancing a portfolio of natural climate solutions. These efforts will deliver a carbon benefit that balances any remaining emissions over the next 10 years, allowing P&G operations to be carbon neutral for the decade. Based on current estimates, the company will need to balance ~30 million metric tons of carbon from 2020 to 2030.
According to the company, its priority continues to be reducing emissions. P&G has an existing goal of reducing greenhouse gas emissions by 50% and purchasing 100% renewable electricity by 2030 and is on track to deliver on its 2030 commitments. In addition, P&G will continue pursuing new wind, solar and geothermal projects to further accelerate the transition to renewables. These efforts are aligned with what climate science says is needed to help ensure the Company does its part to limit global temperature increase and will continue well beyond 2030. However, based on today’s technologies, there are some emissions that cannot be eliminated by 2030. By investing in natural climate solutions, the Company will accelerate its impact over the next 10 years.
"Climate change is happening, and action is needed now,” said David Taylor, P&G Chairman, President and Chief Executive Officer. “By reducing our carbon footprint and investing in natural climate solutions, we will be carbon neutral for the decade across our operations and help protect vulnerable ecosystems and communities around the world.”
P&G will partner with Conservation International and World Wildlife Fund (WWF) to identify and fund a range of projects designed to protect, improve and restore critical ecosystems like forests, wetlands, grasslands and peatlands. In addition to sequestering more carbon, an important aspect of natural climate solutions is the potential to deliver meaningful environmental and socioeconomic co-benefits that serve to protect and enhance nature and improve the livelihoods of local communities. As P&G moves forward, the company will seek to identify, measure and communicate relevant co-benefits from its investment in nature.
“Our role as leaders is to make a lower emission economy and lifestyle possible, affordable and desirable for everyone,” said Virginie Helias, P&G’s Chief Sustainability Officer. “It is our responsibility to protect critical carbon reserves and invest in solutions that regenerate our planet. Consumers also want to do more to address climate change. As a company, we touch five billion people with our brands; we are striving to make a difference every day by encouraging responsible consumption with products that are effective and intuitive to enable adoption of new lower emission habits.”
