Veritas Farms, Inc. Sustainability Profile
Veritas Farms, Inc., a prominent player in the hemp and CBD industry, is headquartered in the United States, with significant operations across various regions. Founded in 2015, the company has quickly established itself as a leader in the production of high-quality, full-spectrum hemp extract products. Veritas Farms is renowned for its commitment to sustainable farming practices and rigorous quality control, ensuring that its offerings stand out in a crowded market. The company’s core product line includes CBD oils, topicals, and edibles, all crafted from organically grown hemp. Veritas Farms prides itself on transparency and traceability, providing consumers with detailed information about the sourcing and production of its products. With a strong market position and a growing reputation for excellence, Veritas Farms continues to innovate and expand its reach within the ever-evolving wellness landscape.
DitchCarbon Score
How does Veritas Farms, Inc.'s carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Pharmaceutical Preparation Manufacturing industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Veritas Farms, Inc.'s score of 28 is lower than 51% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Veritas Farms, Inc.'s reported carbon emissions
In 2023, Veritas Farms, Inc. reported total carbon emissions of approximately 2,090 kg CO2e, encompassing Scope 1 and Scope 2 emissions. This marks a reduction from the previous year's emissions of about 2,630 kg CO2e in 2022. The company has not disclosed any Scope 3 emissions data, which typically includes indirect emissions from sources such as business travel. Historically, in 2018, Veritas Farms, Inc. reported total emissions of about 65,500,000 kg CO2e, with significant contributions from Scope 1 (5,600,000 kg CO2e), Scope 2 (18,000,000 kg CO2e), and Scope 3 emissions related to business travel (41,900,000 kg CO2e). This indicates a substantial decrease in emissions over the years, reflecting the company's commitment to reducing its carbon footprint. Despite these reductions, Veritas Farms, Inc. has not set specific reduction targets or initiatives, nor does it participate in recognised climate pledges such as the Science Based Targets initiative (SBTi). The absence of formal commitments suggests that while the company is making progress in emissions reduction, it may benefit from establishing clearer climate goals and strategies to enhance its sustainability efforts.
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| 2016 | 2017 | 2018 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 11,200,000 | 0,000,000 | 0,000,000 | - | - |
| Scope 2 | 12,300,000 | 00,000,000 | 00,000,000 | - | - |
| Scope 3 | 17,300,000 | 00,000,000 | 00,000,000 | - | - |
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Veritas Farms, Inc.'s Scope 3 Categories Breakdown
Veritas Farms, Inc.'s Scope 3 emissions, which decreased by 4% last year and increased by approximately 142% since 2016, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 64% of total emissions under the GHG Protocol, with "Business Travel" representing nearly all of their reported Scope 3 footprint.
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Veritas Farms, Inc.'s Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Veritas Farms, Inc. has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
