LONDON, UNITED KINGDOM, 9 May 2024: Tate & Lyle PLC (Tate & Lyle), a world leader in ingredient solutions for healthier food and beverages, today announces ambitious new greenhouse gas (GHG) emissions reduction targets, to be delivered by 2028, consistent with reductions required to limit global warming to 1.5°C above pre-industrial levels, the most ambitious goal of the Paris Climate Agreement.
Tate & Lyle’s new near-term science-based GHG emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), the corporate climate action organisation that rigorously validates companies’ climate targets.
Tate & Lyle has committed to the following near-term GHG emissions reduction targets:
Energy and Industrial
- Reduce absolute Scope 1 and 2 GHG emissions by 38% by 2028 from a 2019 base year.1
- Reduce absolute Scope 3 GHG emissions by 38% by 2028 from a 2019 base year.
Forests, Land and Agriculture (FLAG)
- Reduce absolute Scope 3 FLAG GHG emissions by 23% by 2028 from a 2019 base year.2
- No deforestation across our primary deforestation-linked commodities, with a target date of 31 December 2025.
The new targets – which mean that Tate & Lyle will deliver a greater emissions reduction at a faster pace - replace the previously validated science-based targets to 2030 at the Well Below 2°C level.
Nick Hampton, Chief Executive, Tate & Lyle said: “Climate change is the greatest challenge facing our planet and Tate & Lyle is committed to not only playing our part, but to being a leader on climate action collaborating closely with stakeholders across our value chain. Our new science-based 2028 targets, aligned to a 1.5°C trajectory, demonstrate our commitment to building a sustainable economy by doing not what is easy, but what is necessary.”
Anna Pierce, Director of Sustainability at Tate & Lyle said: “We are proud that SBTi have validated our GHG emission reduction targets, which will significantly accelerate the decarbonization of our operations and supply chain. We will continue to engage with our customers and suppliers to better understand their climate change challenges, and to work together to solve them.”
In addition to the new GHG emissions targets, Tate & Lyle remains committed to delivering its other sustainability commitments and targets, as follows:
- 100% of purchased electricity for our operations will come from renewable sources by 2030
- Reduce water use intensity by 15% by 20303
- 100% of waste to be beneficially used by 2030
- Maintain sustainable acreage equivalent to the volume of corn purchased each year
- Achieve net zero by 2050.
Progress against our 2030 targets and commitments will be provided in Tate & Lyle’s Annual Report 2024 to be published in June 2024.
For more information on Tate & Lyle’s approach to climate action and its performance, visit https://www.tateandlyle.com/purpose.
1The target boundary includes land-related emissions and removals from bioenergy feedstocks.
2The target includes Forests Land and Agriculture (FLAG) emissions and removals.
3 From a 2019 baseline.
Ends
Notes to editors:
- In March 2024, Tate & Lyle was recognised on CDP’s 2023 Supplier Engagement Leaderboard receiving an ‘A’ rating for its supplier engagement on climate change strategy and action.
- In 2023, Institutional Shareholder Services (ISS) upgraded its Environmental, Social and Governance (ESG) rating for Tate & Lyle to ‘Prime’ putting the Company in the top decile of the Food Products sector.
For more information, please contact:
mediarelations@tateandlyle.com
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About the Science Based Targets initiative:
The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis. We develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Our partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
