EssilorLuxottica Validates GHG Emissions Targets for Sustainability

EssilorLuxottica Validates GHG Emissions Reduction Targets

EssilorLuxottica has taken a significant step towards sustainability by having its greenhouse gas emissions reduction targets validated by the Science Based Targets initiative (SBTi). This validation is a pivotal moment for the company as it works diligently to lessen its environmental footprint.

Commitment to Carbon Neutrality

The newly established targets for 2030 target emissions across all three scopes: Scope 1, Scope 2, and Scope 3. These goals align with the broader climate initiatives set out in the Paris Agreement adopted by the United Nations, indicating a strong commitment to combat climate change.

Scope 1 and 2 Emissions Reduction Plans

EssilorLuxottica aims to cut its absolute Scope 1 and 2 greenhouse gas emissions by an impressive 42% by the year 2030, using 2022 as the baseline year. This ambitious goal reflects the company's proactive stance in managing its direct emissions, which encompass all direct emissions from owned or controlled sources.

Addressing Scope 3 Emissions

Equally important is the company’s commitment to reduce absolute Scope 3 emissions by 25% within the same timeframe. Scope 3 includes emissions from purchased goods and services, energy-related activities, transportation, and waste produced during operations. This comprehensive approach underlines the dedication of EssilorLuxottica to extend their sustainability efforts beyond their immediate operations.

Leadership's Vision for Sustainability

The voices of leadership, including Francesco Milleri, the Chairman and CEO, and Paul du Saillant, Deputy CEO, emphasize that sustainability is deeply integrated into the company's core values and strategic vision. Milleri stated, "Sustainability is at the core of the Group’s identity and strategic vision. Our science-aligned climate targets reinforce our commitment to leading the industry toward an equitable and sustainable future. We will continue prioritizing climate actions within our sphere of influence and engage all our stakeholders." This message resonates strongly within the company’s ethos.

Engaging Suppliers in Decarbonization

Part of EssilorLuxottica’s plan to implement its sustainability strategy involves collaborating with suppliers and business partners. The company acknowledges that achieving sustainability is a collective effort and is committed to guiding its partners along this decarbonization journey through an open and inclusive business model.

Long-Term Environmental Initiatives

EssilorLuxottica has consistently prioritized environmental stewardship since its inception. Their long-standing objectives include reducing and neutralizing the carbon footprint of their operations. The company anticipates achieving this for its direct operations globally by 2025, with significant progress already made in Europe, where targets have been met ahead of schedule in 2023.

Focus on Energy Efficiency and Renewable Resources

The company’s climate strategy revolves around enhancing energy efficiency across its various facilities. This includes increasing the production and use of renewable energy sources, thereby reducing dependency on fossil fuels. By adopting these measures, EssilorLuxottica supports the protection and restoration of natural ecosystems through thoughtful operational practices.

Understanding the Role of the SBTi

The SBTi plays a crucial role in facilitating corporate climate action globally. Their work enables businesses to set greenhouse gas emissions reduction targets that align with the scientific requirements needed to maintain global temperature increases below critical levels. Through their guidance, companies can navigate the complexities of climate challenges, thus paving the way for substantial contributions toward achieving net-zero emissions by 2050.

Frequently Asked Questions

What are EssilorLuxottica's GHG emissions reduction targets?

EssilorLuxottica aims to reduce Scope 1 and 2 emissions by 42% and Scope 3 emissions by 25% by 2030.

What is the importance of the SBTi validation?

The SBTi validation confirms that EssilorLuxottica's targets are aligned with global climate science and makes a commitment to sustainability credible.

How will the company engage its suppliers?

EssilorLuxottica plans to involve suppliers in the decarbonization journey by collaborating closely to achieve shared sustainability goals.

What has EssilorLuxottica achieved in Europe?

The company successfully neutralized its carbon footprint in Europe ahead of its 2025 target.

How does EssilorLuxottica enhance energy efficiency?

EssilorLuxottica focuses on improving energy efficiency through renewable energy use and operational enhancements across its facilities.

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