Ferrara Candy Company, Inc.

Ferrara Candy Company, Inc.'s reported carbon emissions

Ferrara Candy Company, Inc. reported a total of approximately 102.0 billion kg CO2e in emissions for the year 2023. This total comprises approximately 15.4 billion kg CO2e of Scope 1 emissions, approximately 7.0 billion kg CO2e of Scope 2 emissions (market-based), and approximately 82.6 billion kg CO2e of Scope 3 emissions. The company has set Science Based Targets initiative (SBTI) aligned goals to reduce its Scope 1 and Scope 2 emissions by 54.6% by 2033, using a 2021 baseline. These targets aim to keep global warming below catastrophic levels and focus on enhancing resource efficiency and lowering the company's carbon footprint. Ferrara Candy Company's emissions data for 2023 is inherited from its ultimate parent, Ferrero International S.A., as part of a corporate family relationship where Ferrara Candy Company, Inc. is a current subsidiary. The SBTI and CDP data also originates from Ferrero International S.A. Ferrara Candy Company, Inc. is part of a larger corporate family that has a long-term net zero GHG emissions goal for Scope 1 and 2 emissions by 2050. This net zero goal is supported by strategies such as optimising energy efficiency in manufacturing, sourcing renewable electricity through power purchase agreements, increasing the use of hydrogen, and implementing carbon capture and storage/utilisation technologies. However, this 2050 net zero target currently does not include Scope 3 emissions, due to industry-wide challenges in defining and calculating Scope 3 targets. The company is actively engaged in sectoral initiatives and is a member of the SBTi Expert Advisory Group to support the development of a chemical sector-specific standard for defining science-based climate targets.