Pandora recognized with ‘A’ score for transparency on climate change
Pandora has been recognized for leadership in corporate transparency and performance on climate change by global environmental non-profit CDP, securing a place on its annual ‘A List’.
Based on data reported through CDP’s 2022 Climate Change questionnaire, Pandora is one of a small number of companies that achieved an ‘A’ - out of nearly 15,000 companies scored.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are scored an F.
“We are very pleased to be recognised by CDP and included on their A-list for our climate action and disclosure. This top ranking is a reflection of our commitment to become a low-carbon business throughout our own operations and value chain, and the good progress we have made so far,” says Anders Boyer, Chief Financial Officer at Pandora.
Since 2020, Pandora’s jewellery production has been running on 100% renewable energy, and the company is set to become carbon neutral in its own operations by 2025.
Pandora has further committed to cut its greenhouse gas emissions by 50% across its own operations and entire value chain of suppliers and business partners by 2030. The climate target, among the most ambitious in the jewellery industry, has been approved by the Science Based Targets initiative.
By 2040, Pandora will achieve net zero emissions.
Maxfield Weiss, Executive Director, CDP Europe said: “CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all A List companies around the world. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.
With the EU’s ground-breaking new reporting regulation, the CSRD, now agreed, CDP A List companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse’’.
The full list of companies that made this year’s CDP A List is available here: https://www.cdp.net/en/companies/companies-scores
Note to editors
The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores
The page will show last year’s A List until it is updated at the embargo time.
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 6,400 points of sale, including more than 2,400 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 27,000 people worldwide and crafts its jewellery at two LEED-certified facilities in Thailand. Pandora is committed to leadership in sustainability and will use only recycled silver and gold in its jewellery by 2025 and halve greenhouse gas emissions across its value chain by 2030. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 23.4 billion (EUR 3.1 billion) in 2021.
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022, including more than 18,700 companies worth half of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
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