It's how we've always done business.
One of Novozymes’ three commitments is ‘Accelerating towards a climate-neutral society’. We just launched a new transition plan on how to accomplish that. From our innovations to our operations and beyond, we lay out the progress we have made and the steps we have yet to take on our path to reach net-zero by 2050.
Ester Baiget
CEO of Novozymes
As climate, energy and food crises converge, we urgently need sustainable growth that protects the health of people and our planet. There are already solutions out there, but they can’t reach their full potential without a willingness to invest in the future.
Our CEO and President Ester Baiget explains the three key actions we need to take at this defining moment for our world.
The Science Based Targets initiative provides a clearly-defined pathway for companies to reduce greenhouse gas (GHG) emissions and reach net zero by 2050. Climate action is an integral part of our business strategy. We have been leading the way for many years. We were among the first few companies to set a validated science-based target in line with the 1.5°C pathway.
As of November 2022, Novozymes is amongst the first group of companies in the world to have committed to SBTi’s new Corporate Net-Zero Standard by having a net-zero by 2050 science-based target verified by the SBTi. While more than 2,000 companies have SBTi commitments, only about 85 companies have a net-zero science-based target verified by SBTi as per October 25, 2022.
Being a manufacturing company, we have significant climate impact in our value chain. That’s why our science-based targets cover scopes 1, 2 and 3. We’re fully committed to a net-zero future across all three scopes. There’s no time to waste.
Our operations
Shift to greener heat, steam, and other energy sources.
Pilot emerging technologies to further decarbonize operations e.g. climate smart cooling.
Our supply chain
Pursue supply chain partnerships to develop decarbonization technologies.
Explore sourcing of raw materials from regenerative agriculture.
Scale up decarbonization in logistics together with freight forwarders.
2025
65% absolute CO2 emissions reduction from operations
100% renewable electricity purchased
Our operations
Shift to greener heat, steam, and other energy sources.
Pilot emerging technologies to further decarbonize operations e.g. climate smart cooling.
Our supply chain
Pursue supply chain partnerships to develop decarbonization technologies.
Explore sourcing of raw materials from regenerative agriculture.
Scale up decarbonization in logistics together with freight forwarders.
2025
65% absolute CO2 emissions reduction from operations
100% renewable electricity purchased
We are commited to high standards and ambitious actions to improve our footprint on the climate across scopes 1, 2 and 3.
We will balance the remaining up to 10% emissions through trusted third-party verified offsets that benefit people and societies.
2030
75% absolute CO2 emissions reduction from operations
35% absolute CO2 emissions reduction from supply chain*
Our strong ESG performance is recognized by many ESG rating agencies and platforms, and we continue to support the global call for collective action on material ESG issues.
Ecovadis is a global collaborative platform providing sustainability ratings to customers. We have again been awarded a Platinum Medal and placed among the top 1% of companies assessed by Ecovadis in 2023.
We have received the Nasdaq ESG Transparency Partner badge in 2021 for our participation in Nasdaq’s ESG Data Portal recognizing our ESG performance.
In 2022, we secured leadership ranking recognized on CDP’s Climate Change A List and received an “A-“ score for water security disclosures,
In 2023, we received a rating of AAA (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.
We have secured a ‘Low Risk ESG Rating’ by Sustainalytics in 2023.
We have been a constituent of the ETHIBEL Sustainability Index (ESI) Excellence Europe and the ETHIBEL Sustainability Index (ESI) Excellence Global since mid-2020.
We have been awarded Prime status by ISS ESG Corporate Rating. For further information on the underlying methodology of the rating please refer the ISS ESG methodology page.
FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that we have been independently assessed according to their FTSE4Good criteria and have satisfied the requirements to become a constituent of the FTSE4Good Index Series following the FTSE4Good Index Series June 2023 review. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
Novozymes has combined with Chr. Hansen to become Novonesis, a global biosolutions company.
In Novonesis, sustainability is how we do business. It's at the core of who we are. And it's what we enable for our customers.
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