Consumer products giant Kimberly-Clark has updated its sustainability plan, now aiming to reduce its footprint on plastics, water and natural forests by 50% by 2030.
The KMB company,
plans to halve its absolute greenhouse gas (GHG) emissions in just a decade from Scope 1 sources, which are emissions from its own production, and Scope 2 sources, those created from the production of energy that a business buys to run its business; 2015 will serve as the base year. In addition, the company aims to reduce its scope 3 emissions by 20% throughout the supply chain. These goals were recently approved by the Science Based Targets initiative.
In December 2019, an SBT report revealed that 285 companies have now set emissions targets in line with the Paris Agreement, a voluntary international pact that aims to limit global warming to at least less than 2 ° C; the Trump administration, citing non-compliance by developing countries, withdrew the United States from this plan. The SBT estimates that the actions of these companies will generate more than $ 18 billion in investments in climate change mitigation and up to 90 terawatt-hours of renewable electricity production annually.
The new sustainability strategy announced on Wednesday replaces Kimberly-Clark’s previous “Sustainability 2022” framework, after most of its targets were exceeded.
Kimberly-Clark’s move also follows other aggressive climate-focused commitments – and scrutiny from environmental groups that those promises are being kept – by tech stalwarts and domestic conglomerates. Among them, Unilever UL,
, parent company of Ben & Jerry’s, Lipton, Marmite and more, last month committed € 1 billion ($ 1.13 billion) to a climate and nature fund, and pledged to zero emissions net in its product line by 2039.
Lisa Morden, named GreenBiz’s 2019 Badass Women List, is Kimberly-Clark’s Vice President for Safety and Sustainability. She GreenBiz said in an interview that a “decisive decade” awaits companies in terms of environmental impact.
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Amazon AMZN Climate Change Announcements,
, which can claim a market cap of around $ 1 trillion and is often tagged for the impact of its rapid delivery footprint, stack up and highlight the split between private sector action and states pulling out – United of the Pact of Paris.
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However, doubts remain that one-off actions can collectively move the needle.
“The scale and pace of change to date [of the private sector] Achieving the sustainable development goals has not been important enough or fast enough, ”Remi Erikson, CEO of risk management firm DNV GL, said in a new United Nations report.
The report, called Uniting Business in the Decade of Action, covers the period since the launch of a major UN effort 10 years ago and shows that only 39% of companies surveyed believe they have targets ambitious enough to meet the Sustainable Development Goals by 2030.
“Only 46% of companies surveyed integrate the SDGs into their core business and less than a third of companies believe their industry is changing fast enough to achieve the SDGs by 2030,” he said.
Kimberly-Clark’s sustainability report also detailed the company’s efforts to obtain more toilet paper, feminine hygiene products, and diapers it produces. in vulnerable and underserved communities. “Reaching a billion people is certainly an ambitious goal that requires a significant change from our previous efforts, and we are poised to take it up,” said Alison Lewis, chief growth officer for Kimberly-Clark.
Kimberly-Clark stock is up 3.7% year-to-date. The S&P 500 SPX,
is down 2.6% over the same period.