Tokyo, JAPAN (September 14, 2021) — Suntory Holdings and its subsidiary Suntory Beverage & Food today announced that both companies have had their greenhouse gas (GHG) emissions reduction targets under the Suntory Group’s “Environmental Targets towards 2030” approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement.
The targets covering GHG emissions from Suntory Group’s direct operations (scopes 1 and 2) are consistent with reductions required to keep global warming to 1.5°C, the most ambitious goal of the Paris Agreement. Suntory Group’s target for the emissions from its value chain (scope 3) meet the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice.
The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
Suntory Group revised its “Environmental Targets toward 2030” in April 2021 to reduce GHG emissions by 50%*1 from its direct operations and by 30%*1 across its entire value chain by 2030. Suntory Holdings and Suntory Beverage & Food already had their original GHG emissions reduction targets set in 2018 approved by the SBTi as consistent with reductions required to keep global warming to 2°C, but the companies reapplied the new targets revised in April 2021 to the SBTi which have now been approved as consistent with the 1.5°C trajectory.
“Science has proven that global warming is accelerating at an unprecedented pace, and governments, businesses and societies must do more to reduce our environmental footprint. Having emissions reduction targets approved by the SBTi is just the beginning and we are committed to doing everything possible to achieve our targets and make real impact not only in our direct operations but across the entire value chain,” says Tomomi Fukumoto, Chief Operating Officer of Sustainability Management at Suntory Holdings.
In order to meet its 2030 GHG emissions reduction targets, Suntory Group will aim to achieve 100% renewable electricity in the group's 63 directly-owned manufacturing sites and R&D facilities in Japan, the Americas and Europe by 2022*2. In addition, the group will start introducing internal carbon pricing and plans to invest a total of approximately 100 billion JPY (equivalent to approximately 900 million USD*3) by 2030 to shift to low-carbon alternatives. The Suntory Group will continue its efforts to promote sustainable management and contribute to tackling social issues on a global level.
*1 Total reduction versus 2019 baseline
*2 For its alcohol and non-alcohol beverage business
*3 Exchange rate 1 USD = 110 JPY as of June 2021
About Suntory Holdings
As a global leader in the beverage industry, Suntory Holdings offers a uniquely diverse portfolio of products from premium spirits, beer and wine to brewed teas, bottled water, carbonated soft drinks, ready-to-drink coffee and energy drinks, along with health and wellness products. Suntory is home to award-winning Japanese whiskies Yamazaki, Hibiki and Hakushu as well as iconic American spirits Jim Beam and Maker's Mark. Suntory also fascinates the taste buds in Japan and the Asian market with our Premium Malt's beer and also owns the exceptional Japanese wine Tomi and the world famous Château Lagrange. Its brand collection also includes Sauza Tequila, non-alcoholic favorites Orangina, Lucozade, Ribena, BOSS coffee, Iyemon green tea, Suntory Tennensui water, TEA+ Oolong Tea, V and BRAND’S, as well as popular health and wellness product Sesamin EX.
Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group has grown into a global company operating throughout the Americas, Europe, Africa, Asia and Oceania with an annual revenue (excluding excise taxes) of $20.4 billion in 2020. Suntory is driven by Yatte Minahare - the spirit of bold ambition - and our 40,044 employees worldwide draw upon our unique blend of Japanese artisanship and global tastes to explore new product categories and markets.
As a company that delivers blessings of water and nature to our customers, Suntory is committed to its mission to create harmony with people and nature. Always aspiring to grow for good, Suntory is devoted to giving back to society through protecting water resources, nurturing its communities and fostering the arts.
Learn more about Suntory Group, its brands, and its commitment to social responsibility at www.suntory.com, on Facebook, Twitter, Instagram, LinkedIn, and YouTube.
About Suntory Beverage & Food (SBF)
Suntory Beverage & Food Ltd (SBF) is a global soft drink company with consolidated revenue of approx. $11.4 billion in 2020. Headquartered in Japan and listed on the Tokyo Stock Exchange since 2013, SBF is expanding its business with a diverse portfolio of soft drinks and globally integrated platform in five key regions: Japan, Europe, Asia, Oceania and the Americas.
SBF’s vision is to enrich our drinking-experiences to be more natural, healthy, convenient, and fulfilling, by leading the next drinks revolution.
SBF is a core company of Suntory Group, which was founded in 1899 with consolidated revenue of approx. $20.4 billion in 2020.
For further information please visit http://www.suntory.com/softdrink/index.html.