- First Task Force on Climate-related Financial Disclosures (TCFD) report enhances transparency and accountability
- Company advances sustainability across its products, operations and value chain as part of its Healthy Lives Mission
- Progress includes reducing Scope 1 and 2 greenhouse gas emissions1, 2, 3 by 26% since 2020 and increasing renewable electricity4 usage to 65% of its electricity usage
SKILLMAN, N.J.--BUSINESS WIRE--
Kenvue Inc. (NYSE: KVUE) ("Kenvue" or the "Company"), the maker of iconic brands such as Aveeno®, Listerine®, Neutrogena® and Tylenol®, is advancing progress toward the climate change goals outlined in its Healthy Lives Mission environmental, social and governance strategy, including releasing its first Task Force on Climate-related Financial Disclosures (TCFD) report.
"Publishing our TCFD report represents an important step in our proactive approach to integrating climate considerations into our business strategy, operations, value chain and marketed products," said Pamela Gill-Alabaster, Global Head of ESG & Sustainability at Kenvue. "We have made meaningful progress, including the validation of our near-term greenhouse gas (GHG) emissions reduction targets by the Science Based Targets initiative (SBTi) and the release of our inaugural Healthy Lives Mission report in support of our ambition to help contribute to a healthier future."
Healthy Lives Mission was developed with the understanding that human health is inseparably linked to environmental health. Consumers also see this connection, with three out of four adults globally seeing a link between human health and climate change according to an online survey commissioned by Kenvue earlier this year5. The same survey revealed that 86% of people expect health-related consequences of climate change to worsen over the next 5 to 10 years.
Kenvue's climate change goals and commitments are part of the Healthy Planet pillar of its Healthy Lives Mission strategy and focus on advancing sustainability across the Company's operations - from product and packaging design to material sourcing, manufacturing and transportation. Highlights on progress as reported in the Healthy Lives Mission 2023 Report include:
- Investments in energy efficiency and decarbonization projects have resulted in Scope 1 and 2 GHG1, 2, 3 reductions of 26% since 2020.
- 21% of the Company's suppliers, by emissions covering purchased goods and services and upstream transportation and distribution, have science-based targets.
- Use of renewable electricity4 has increased to 65% of its electricity usage through 18 onsite solar-powered electricity systems, offsite renewable electricity4 procurement contracts and the addition of onsite solar installations.
- Using circular economy design principles, Kenvue increased its use of recyclable6 or refillable7 packaging8 to 71% of its portfolio and reduced the volume of virgin plastic9 in packaging8 by 21%.
Since the beginning of 2024, Kenvue has completed new onsite solar installations at its Sezanne, France, and Madra, Greece manufacturing sites, which will provide 1.75MW and 0.186MW of renewable energy, respectively. The Company also expects to complete additional onsite solar installations at its Cape Town, South Africa, Minhang, China and Jakarta, Indonesia manufacturing sites this year, further advancing progress toward its goal of 100% of its electricity usage for its operations1 being renewable4 by 203010, 11.
To address Scope 3 indirect upstream GHG emissions, Kenvue launched a Supplier Climate Action Program in July to engage purchased goods and services and upstream transportation and distribution suppliers. Through this program, the Company will help these suppliers set science-based targets of their own and work to decarbonize their operations. Kenvue has also joined the Energize program, which is designed to help suppliers learn about renewable electricity and provide sourcing opportunities, either as sole sourced or with other suppliers.
Recognizing the value of collaboration to accelerate progress within and across sectors, Kenvue is an active member of several coalitions that have focused workstreams which support climate action and the journey toward net zero including the WWF Climate Business Network and the WWF Renewable Thermal Collaborative. Most recently, Kenvue joined the Forum for the Future's Climate and Health Coalition to support the integrated transformation of human health and climate systems toward outcomes that deliver benefits for both people and planet.
To read the Kenvue Healthy Lives Mission 2023 Report, visit www.kenvue.com/hlm-report-2023. To access the full TCFD report, visit https://www.kenvue.com/task-force-on-climate-related-financial-disclosures-2023-report.
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