Varun Beverages

Varun Beverages, an Indian beverage company, reported a total of approximately 3.56 billion kg CO2e in emissions for the year 2024. This figure is comprised of Scope 1, 2, and 3 emissions. Specifically, Scope 1 emissions were around 88.22 million kg CO2e, Scope 2 emissions were approximately 352.88 million kg CO2e, and Scope 3 emissions were about 3.12 billion kg CO2e. The primary contributor to Scope 3 emissions was purchased goods and services, accounting for approximately 1.92 billion kg CO2e.

In terms of climate commitments, Varun Beverages has set ambitious targets:

• Net-Zero by 2050: The company is committed to achieving net-zero greenhouse gas emissions by 2050, aligning with the goals of the Paris Agreement.
• Near-Term Reductions:
  • Varun Beverages aims to reduce its Scope 1 emissions by 30% from a 2021 baseline by 2030.
  • A 25% reduction in Scope 2 emissions from a 2021 baseline is targeted by 2030.
  • More recently, the company aims to reduce its absolute greenhouse gas emissions by 50% by 2030, with a focus on increasing the share of renewable energy in its electricity consumption by 25%.
  • Additionally, Varun Beverages has committed to reducing absolute Scope 1 and 2 GHG emissions by 60% by 2033, using 2023 as a base year. They also commit to a 60% reduction in absolute Scope 3 GHG emissions within the same timeframe.
• Near-Zero by Mid-Decade: The company has also stated an aim to reduce its Scope 1 and Scope 2 emissions to near zero by the middle of this decade.