Bacardi

Bacardi Carbon Emissions and Climate Commitments: A Summary

Bacardi, a global beverages company headquartered in BM, has established comprehensive climate commitments aligned with science-based targets. The company is working towards ambitious reduction goals across its operations and value chain.

Emissions Data:

• 2024: Bacardi reported total emissions of approximately 1.09 billion kg CO2e. This includes Scope 1 emissions of roughly 115.7 million kg CO2e and Scope 2 emissions of approximately 27.4 million kg CO2e. Scope 3 emissions for this year were approximately 953.8 million kg CO2e, though data for purchased goods and services was missing.
• 2025 (projected): Scope 1 emissions are projected at approximately 107.8 million kg CO2e, and Scope 2 emissions at about 21.9 million kg CO2e. Scope 3 data for this year is not available.
• 2023: Scope 1 emissions were approximately 109.8 million kg CO2e, and Scope 2 emissions were about 30.7 million kg CO2e. Scope 3 data was not reported for this year.
• 2022: Scope 1 emissions totalled approximately 115.7 million kg CO2e, with Scope 2 emissions at about 21.9 million kg CO2e. Scope 3 data was not available.
• 2021: Total emissions were approximately 119.6 million kg CO2e, comprising Scope 1 emissions of around 94.1 million kg CO2e and Scope 2 emissions of about 25.4 million kg CO2e. Scope 3 data was not reported.
• 2020: Total emissions were approximately 99.8 million kg CO2e, with Scope 1 emissions at about 77.1 million kg CO2e and Scope 2 emissions at roughly 22.6 million kg CO2e. Scope 3 data was not available.
• 2019: Total emissions were approximately 62.9 million kg CO2e, including Scope 1 emissions of around 36.9 million kg CO2e.
• 2018: Total emissions amounted to approximately 62.2 million kg CO2e, with Scope 1 emissions at about 37.2 million kg CO2e.
• 2017: Total emissions were approximately 55.8 million kg CO2e, comprising Scope 1 emissions of about 31.0 million kg CO2e.
• 2016: Total emissions were approximately 71.4 million kg CO2e, with Scope 1 emissions around 30.0 million kg CO2e.
• 2015: Scope 1 emissions were approximately 77.3 million kg CO2e, and Scope 2 emissions were about 14.3 million kg CO2e.

Climate Commitments and Targets:

Bacardi is committed to significant emissions reductions, aligning with the Science-based Targets initiative (SBTi).

• Near-Term Targets:
  • The company aims to reduce absolute Scope 1 and 2 GHG emissions by 50% by 2025, using 2015 as a base year.
  • Bacardi also committed to a 20% reduction in absolute value chain emissions (Scopes 1, 2, and 3) by 2025, also from a 2015 base year.
  • More recently, Bacardi has set targets to reduce absolute Scope 1 and 2 GHG emissions by 42% by FY2030 from a FY2023 base year. Furthermore, they commit to a 42% reduction in absolute Scope 3 GHG emissions within the same timeframe.
• Long-Term Targets:
  • Bacardi aims to become net zero across its direct operations by 2040 and across its entire value chain by 2050, in line with SBTi recommendations.
  • Long-term targets include a 90% reduction in absolute Scope 1 and 2 GHG emissions by FY2040 from a FY2023 base year, and a 90% reduction in absolute Scope 3 GHG emissions by FY2050 from a FY2023 base year.
• Deforestation: Bacardi has a commitment to no deforestation across its primary deforestation-linked commodities, with a target date of December 31, 2025.

Bacardi's climate strategy demonstrates a progressive approach to reducing its environmental impact within the beverages industry.