Science Based Targets initiative
Verescence accelerates its CSR commitments and joins the Science Based Targets initiative
Paris, February 10th, 2020 – Verescence, the world’s leading glassmaker for the beauty industry, today announced that it has committed to set a science-based Greenhouse Gas (GHG) emissions reductions target by joining the Science Based Targets initiative (SBTi). The company will submit its target within the end 2022 in line with the latest climate science.
Four years after the Paris Agreement, adopted following COP 21, where the world’s governments agreed to fight against global warming, 798 private sector companies have joined the Science Based Targets initiative. Verescence is the first glassmaker for luxury Perfumery and Cosmetics to commit.
The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC). It encourages companies to set targets for reducing Greenhouse Gas emissions based on scientific data, in order to meet the goals of the Paris Agreement – to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
After having set a first series of reduction targets for its CO2 emissions (Scope 1: Direct GHG & Scope 2: Energy Indirect GHG) for the 2016-2022 period, Verescence aims to go even further by committing to set reduction targets aligned with the recommendations from the scientific community.
Thomas Riou, Chief Executive Officer of Verescence, said:
In accordance with our long-standing commitments to sustainable development, our Group is taking another step forward by joining the Science Based Targets initiative. Verescence is a committed company and wishes to fight against global warming. Our CSR strategy is a vector of motivation and innovation for our employees by giving more perspective to our contribution and our actions.
Alain Thorré, CSR Director of Verescence, commented:
Following this commitment, we will define targets for reducing our Greenhouse Gas emissions - mainly CO2 - based on the latest scientific data. These targets will then be submitted to the SBTi for validation. This will allow us to complete and validate existing and future objectives with science.
To learn more about Verescence’s CSR commitments, you can read its Sustainability Report online.
Verescence is the global leader in glass bottle manufacturing for the Perfumery and Cosmetics industry and has a production capacity of 500 million bottles per year. Verescence supplies its customers with glass through high quality, environmentally friendly and innovative solutions. The company has over 120 years of glass expertise and a unique geographical footprint (3 glass production sites and 4 decorations sites, three of which are in France), making it the partner of choice for the world’s largest beauty market players. In 2019, the company employed 2,300 people worldwide and achieved sales revenue of 309 million euros. The new corporate project, « Verescence 2022 - Forming The Future », aims to make the group the global leader in the sustainable beauty industry and is accompanied by an investment plan of 122 million euros.