Thematic Intelligence: Net Zero Strategies in Consumer Industries

Thematic Intelligence: Net Zero Strategies in Consumer Industries

Summary

This report provides an in-depth analysis into net-zero strategies across the consumer industries, including a discussion of why consumer industries companies need net-zero strategies. The emissions targets and performance of 20 leading companies across consumer goods, food service, and packaging are examined, alongside a comprehensive look into their net-zero strategies. The report also includes a summary of the key sustainable products and services offered by consumer industries leaders.

Companies achieve net zero emissions by cutting greenhouse gas (GHG) emissions to as close to zero as possible, with any remaining emissions then “offset.” Firms that achieve net zero emissions may say they are carbon neutral. Companies are under pressure to cut emissions as countries aim to achieve their climate commitments. Consumer industries companies less often directly emit greenhouse gases, and most are purchasing renewable electricity contracts to reduce their Scope 2 emissions. They therefore must place more emphasis on reducing their Scope 3 emissions, which are produced by assets they do not directly own and are the highest number of reported emissions. In recent years, consumer industries companies have faced increasing pressure to measure and report their emissions information as consumers growingly demand increased transparency.

Scope

• All 20 of the leading consumer industries companies analyzed in this report have committed to achieving net zero emissions across select areas of their value chains between 2030 and 2060.
• Scope 1 and 2 emissions, which are generated by business operations, make up 12% of currently reported emissions. The main contributors to these emissions are purchased electricity, heat, and steam.
• Scope 3 emissions, or value chain emissions, account for 88% of emissions but are currently under-reported. The main contributors to upstream Scope 3 are purchased goods and services.

Reasons to Buy

• Understand which leading consumer industries companies are reducing their emissions and how they achieve this.
• Identify net-zero leaders and laggards across consumer goods, food service, and packaging.
• Learn about consumer industries emissions, as well as the key challenges in measuring them.