Fonterra

Fonterra, a prominent dairy products company headquartered in NZ, reported approximately 25.8 billion kg CO2e in total emissions for 2023. This figure comprises about 1.35 billion kg CO2e in Scope 1 emissions and approximately 500 million kg CO2e in Scope 2 emissions. Scope 3 emissions were the largest component, amounting to nearly 24 billion kg CO2e, with purchased goods and services representing the most significant portion.

The company has established several climate commitments. Fonterra aims for a 30% reduction in absolute manufacturing emissions (Scope 1 and 2) by 2030 from a 2015 baseline. Furthermore, they are committed to achieving net-zero emissions by 2050. Progress towards these goals is being made, with reports indicating Fonterra is approximately a year ahead of schedule on its emission reduction efforts.

In line with Science Based Targets initiative (SBTi) commitments, Fonterra has set a near-term target to reduce absolute Scope 1 and 2 GHG emissions by 30% by FY2030, using FY2018 as a baseline. Additionally, they are working towards having 70% of their suppliers, by emissions, covering purchased goods and services, adopt science-based targets by 2024. More ambitious SBTi targets include a 50.4% reduction in absolute Scope 1 and 2 GHG emissions by FY2030 from an FY2018 base year, aiming for a 1.5°C pathway. Fonterra also commits to reducing Scope 1 and 3 forest, land, and agriculture (FLAG) GHG emissions from dairy by 30% per tonne of fat-and-protein-corrected milk by FY2030 from an FY2018 base year, with a commitment to no deforestation by the end of 2025.