Procter & Gamble is committing to carbon neutrality for the decade. To do so, it is going beyond its existing target of reducing greenhouse gas emissions by 50% and purchasing 100% renewable electricity by 2030 by additionally advancing a portfolio of natural climate solutions. Based on current estimates, the company will need to balance ~30 million metric tons of carbon from 2020 to 2030.
P&G will continue pursuing new wind, solar and geothermal projects to further accelerate the transition to renewables. To address emissions that cannot be eliminated by 2030, P&G will pursue offsets.
To achieve these offsets, P&G will partner with Conservation International and World Wildlife Fund (WWF) to identify and fund projects to protect, improve and restore critical ecosystems like forests, wetlands, grasslands and peatlands to sequester carbon.
These projects include:
- Philippines Palawan Protection Project with Conservation International
- Atlantic Forest Restoration Planning with WWF
- Evergreen Alliance with Arbor Day Foundation
The timing is critical, the company argues, because by 2050 carbon emissions must fall to zero, or close to it in order to avert the worst impacts of climate change.
“Nature must be a key part of any strategy to combat the climate crisis,” said Dr. M. Sanjayan, CEO of Conservation International. “Research shows that we cannot meet our climate goals unless we protect, restore and improve the management of carbon-rich ecosystems. Done right, these efforts can deliver a third of the emissions reductions needed within the next decade, and importantly, support the livelihoods of communities on the front lines of climate change. We’re delighted to be working with Procter & Gamble to protect nature–an investment that is a win for people and our planet.”
“We’ve worked with P&G to drive climate progress and safeguard forests for over a decade, because the scope of their business means they can deliver results at a scale that matters,” said Carter Roberts, U.S. president and CEO of WWF. “Importantly, that progress hasn’t been limited to their own corporate footprint. P&G was an early partner in the Renewable Energy Buyers Alliance, which has helped expand corporate renewable energy procurements across the United States. Today’s announcement marks further progress by putting a greater focus on the role that preserving nature can play – not just in absorbing carbon emissions, but in providing the services and resources that sustain life on earth. We look forward to working with P&G to achieve these new commitments over the next decade.”
“Our role as leaders is to make a lower emission economy and lifestyle possible, affordable and desirable for everyone,” said Virginie Helias, P&G’s chief sustainability officer. “It is our responsibility to protect critical carbon reserves and invest in solutions that regenerate our planet. Consumers also want to do more to address climate change. As a company, we touch five billion people with our brands; we are striving to make a difference every day by encouraging responsible consumption with products that are effective and intuitive to enable adoption of new lower emission habits.”
"Climate change is happening, and action is needed now,” said David Taylor, P&G chairman, president and CEO. “By reducing our carbon footprint and investing in natural climate solutions, we will be carbon neutral for the decade across our operations and help protect vulnerable ecosystems and communities around the world.”