Pandora to halve its greenhouse gas emissions by 2030

09-14-2021

 

Pandora to halve its greenhouse gas emissions by 2030

Company also commits to net zero emissions by 2040, as it lays out plan to decarbonise value chain.

Pandora today announced that it will cut its greenhouse gas (GHG) emissions by 50% across its own operations and entire value chain of suppliers and business partners by 2030. The new climate target, the most ambitious in the jewellery industry to date, is based on an extensive decarbonisation plan across Pandora’s business and aligns with the Paris Agreement and what climate science says is necessary to limit global warming to 1.5⁰ C.

The target has been approved by the Science Based Targets initiative and builds on Pandora’s earlier announced ambition to become carbon neutral in its own operations by 2025.

Pandora also announced a commitment to achieve net zero emissions by 2040 by further reducing its climate footprint and removing or offsetting any remaining emissions.

“The climate crisis is the most urgent issue of our time, and companies must do what they can to find the necessary solutions. Our commitment will prepare Pandora for the low-carbon economy of the future and hopefully contribute to positive change in the jewellery industry. We have a clear line of sight to how we will achieve most of our emission reductions, but we also realize that we do not yet have all the answers. We will call on our suppliers and business partners to help us make this reality,” said Alexander Lacik, CEO at Pandora.

"We congratulate Pandora on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Pandora is taking action to prevent the most damaging effects of climate change."

Carbon neutral in own operations
To halve its emissions by 2030 Pandora will implement a number of energy-saving measures in its operations and significantly expand its use of renewable energy. In 2020, Pandora switched to 100% renewable energy at its crafting facilities, and the company is also planning to purchase green power for its more than 1,300 stores and distribution centres. This will make Pandora carbon neutral by 2025.

Reducing emissions across Pandora’s value chain
Emissions from raw materials, packaging, transportation, franchise stores and other sources outside of Pandora’s own operations account for more than 80% of the company’s total GHG footprint. Pandora will reduce these emissions by 42% by 2030 and has already taken important steps towards the goal by choosing low-carbon materials such as recycled silver and gold and more sustainable packaging.

Going forward, carbon impact will increasingly be factored into key business decisions such as selection and exclusion of suppliers and partners. To help suppliers make the necessary changes and obtain adequate data to track and report performance, Pandora will create a dedicated supplier engagement programme.

FACT BOX: Pandora’s climate targets

  1. Pandora will reduce its GHG emissions 50% by 2030 from a 2019 baseline (Scope 1 + 2 + 3). To achieve this Pandora will:
  • become carbon neutral in its own operations by 2025, reducing emissions by at least 90% from a 2019 baseline (Scope 1 + 2). Carbon removal mechanisms and offsets will balance any remaining emissions.
  • reduce value chain emissions by 42% by 2030 from a 2019 baseline (Scope 3).
  1. Pandora will achieve net zero emissions by 2040.
 

For further information on Pandora’s climate leadership, visit https://pandoragroup.com/sustainability

 

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About Pandora
Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores.

Headquartered in Copenhagen, Denmark, Pandora employs 26,000 people worldwide and crafts its jewellery at two LEED certified facilities in Thailand using mainly recycled silver and gold. Pandora is committed to leadership in sustainability and has set science-based targets to reduce greenhouse gas emissions by 50% across its own operations and value chain by 2030. The company is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 19.0 billion (EUR 2.5 billion) in 2020.

For more information, please contact:

CORPORATE COMMUNICATIONS
Johan Melchior
Director External Relations
+45 4060 1415
jome@pandora.net