- First Task Force on Climate-related Financial Disclosures
(TCFD) report enhances transparency and accountability
- Company advances sustainability across its products, operations
and value chain as part of its Healthy Lives Mission
- Progress includes reducing Scope 1 and 2 greenhouse gas
emissions1, 2, 3 by 26% since 2020 and increasing renewable
electricity4 usage to 65% of its electricity usage
Kenvue Inc. (NYSE: KVUE) (“Kenvue” or the “Company”), the maker
of iconic brands such as Aveeno®, Listerine®, Neutrogena® and
Tylenol®, is advancing progress toward the climate change goals
outlined in its Healthy Lives Mission environmental, social and
governance strategy, including releasing its first Task Force on
Climate-related Financial Disclosures (TCFD) report.
“Publishing our TCFD report represents an important step in our
proactive approach to integrating climate considerations into our
business strategy, operations, value chain and marketed products,”
said Pamela Gill-Alabaster, Global Head of ESG & Sustainability
at Kenvue. “We have made meaningful progress, including the
validation of our near-term greenhouse gas (GHG) emissions
reduction targets by the Science Based Targets initiative (SBTi)
and the release of our inaugural Healthy Lives Mission report in
support of our ambition to help contribute to a healthier
future.”
Healthy Lives Mission was developed with the understanding that
human health is inseparably linked to environmental health.
Consumers also see this connection, with three out of four adults
globally seeing a link between human health and climate change
according to an online survey commissioned by Kenvue earlier this
year5. The same survey revealed that 86% of people expect
health-related consequences of climate change to worsen over the
next 5 to 10 years.
Kenvue’s climate change goals and commitments are part of the
Healthy Planet pillar of its Healthy Lives Mission strategy and
focus on advancing sustainability across the Company’s operations —
from product and packaging design to material sourcing,
manufacturing and transportation. Highlights on progress as
reported in the Healthy Lives Mission 2023 Report include:
- Investments in energy efficiency and decarbonization projects
have resulted in Scope 1 and 2 GHG1, 2, 3 reductions of 26% since
2020.
- 21% of the Company’s suppliers, by emissions covering purchased
goods and services and upstream transportation and distribution,
have science-based targets.
- Use of renewable electricity4 has increased to 65% of its
electricity usage through 18 onsite solar-powered electricity
systems, offsite renewable electricity4 procurement contracts and
the addition of onsite solar installations.
- Using circular economy design principles, Kenvue increased its
use of recyclable6 or refillable7 packaging8 to 71% of its
portfolio and reduced the volume of virgin plastic9 in packaging8
by 21%.
Since the beginning of 2024, Kenvue has completed new onsite
solar installations at its Sezanne, France, and Madra, Greece
manufacturing sites, which will provide 1.75MW and 0.186MW of
renewable energy, respectively. The Company also expects to
complete additional onsite solar installations at its Cape Town,
South Africa, Minhang, China and Jakarta, Indonesia manufacturing
sites this year, further advancing progress toward its goal of 100%
of its electricity usage for its operations1 being renewable4 by
203010, 11.
To address Scope 3 indirect upstream GHG emissions, Kenvue
launched a Supplier Climate Action Program in July to engage
purchased goods and services and upstream transportation and
distribution suppliers. Through this program, the Company will help
these suppliers set science-based targets of their own and work to
decarbonize their operations. Kenvue has also joined the Energize
program, which is designed to help suppliers learn about renewable
electricity and provide sourcing opportunities, either as sole
sourced or with other suppliers.
Recognizing the value of collaboration to accelerate progress
within and across sectors, Kenvue is an active member of several
coalitions that have focused workstreams which support climate
action and the journey toward net zero including the WWF Climate
Business Network and the WWF Renewable Thermal Collaborative. Most
recently, Kenvue joined the Forum for the Future’s Climate and
Health Coalition to support the integrated transformation of human
health and climate systems toward outcomes that deliver benefits
for both people and planet.
To read the Kenvue Healthy Lives Mission 2023 Report, visit
www.kenvue.com/hlm-report-2023. To access the full TCFD report,
visit
https://www.kenvue.com/task-force-on-climate-related-financial-disclosures-2023-report.
About Kenvue
Kenvue is the world’s largest pure-play consumer health company
by revenue. Built on more than a century of heritage, our iconic
brands, including Aveeno®, BAND-AID® Brand, Johnson’s®, Listerine®,
Neutrogena® and Tylenol®, are science-backed and recommended by
healthcare professionals around the world. At Kenvue, we believe in
the extraordinary power of everyday care and our teams work every
day to put that power in consumers’ hands and earn a place in their
hearts and homes. Learn more at www.kenvue.com.
Cautions Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995,
including forward-looking statements related to, among other
things, risks and opportunities associated with the Healthy Lives
Mission, climate, forests and our related ESG estimates,
projections, goals, targets, commitments and expected results.
Forward-looking statements may be identified by the use of words
such as “plans,” “expects,” “may,” “will,” “anticipates,”
“estimates,” “intends,” “goal,” “target,” “commitment,” and other
words of similar meaning. The reader is cautioned not to rely on
these forward-looking statements. These statements are based on
current expectations of future events. If underlying assumptions
prove inaccurate or known or unknown risks or uncertainties
materialize, actual results could vary materially from the
expectations and projections of Kenvue and its affiliates.
A list and descriptions of risks, uncertainties, and other
factors can be found in Kenvue’s filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for
the fiscal year ended December 31, 2023 and subsequent Quarterly
Reports on Form 10-Q and other filings, available at www.kenvue.com
or on request from Kenvue. Kenvue and its affiliates undertake no
obligation to update any forward-looking statements, whether as a
result of new information, future events or developments or
otherwise.
Footnotes
1 Applies to all Kenvue-owned facilities where Kenvue has
operational control, regardless of building type; all leased
facilities used for manufacturing and/or research and development;
and leased, non-manufacturing and/or non-research and development
facilities where the facility is greater than 50,000 square feet
and where Kenvue has operational control. The 2020 baseline and all
subsequent reporting years include all facilities aligned to
Kenvue’s structure upon separation from Johnson & Johnson in
2023 and do not include any operational or organizational
exclusions. Scope 1 are greenhouse gas (GHG) emissions that Kenvue
directly generates – e.g., running boilers and vehicles using
fossil fuels. Fleet emissions are reported as CO2 and do not
include other greenhouse gas emissions. Scope 2 are GHG emissions
that Kenvue indirectly generates – from electricity or energy
purchased for heating and cooling buildings. 2 The inventory was
compiled in accordance with the WRI/WBCSD Greenhouse Gas (GHG)
Protocol – A Corporate Accounting and Reporting Standard (Revised
Edition 2013) including the amendment to this protocol, GHG
Protocol Scope 2 Guidance (2015). 3 The target boundary includes
land-related emissions and removals from bioenergy feedstocks. 4
Renewable energy source is an energy source that is capable of
being replenished in a short time through ecological cycles or
agricultural processes (e.g., biomass, geothermal, hydro, solar,
wind). Renewable electricity targets are achieved through a
combination of actions, including on-site solar, virtual power
purchase agreements (VPPAs), direct power purchase agreements
(PPAs), energy attribute certificates (EACs), also known as
renewable electricity certificates (RECs), and green retail
contracts. 5 Survey results represent input gathered from more than
2,300 adults in seven countries from late February to early March
2024. 6 Recyclable, also defined as recycle-ready, is when
packaging is designed for collection, sorting, and recycling using
end-of-life processes, but where collection, sorting, and recycling
infrastructure may not yet be in place for the packaging to
actually be recycled. Best practices of “designing for
recyclability” guidance for plastic-based packaging include the
Association of Plastics Recyclers in the United States. Note:
“Designed for recycling,” “designed for recyclability,” and
“recycle ready” are also used interchangeably and reflect the same
meaning. 7 Kenvue defines refillable packaging as packaging that is
designed for either the business or the consumer to put the same
type of purchased product back into the original packaging, is
designed to be returnable and/or refillable, and accomplishes a
minimum number of reuses by being part of a system that enables
reuse. 8 Packaging refers to packaging for direct purchases, and
may not include all externally manufactured products. Total weight
of plastics packaging is calculated utilizing 2024 Business Plan
volume and is not trued up to actual sales. Manual adjustments of
<10% were made to 2024 Business Plan volume based on subject
matter expert judgment to remove materials not assumed to contain
plastics. 9 Virgin plastic means newly manufactured resin produced
from petrochemical feedstock used as the raw material for the
manufacture of plastic products and which has never been used or
processed before. 10 Inventory and reporting are aligned with RE100
technical criteria and supplemented by CDP. 11 We aim to meet the
goal by end of fiscal year and publish the year after.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240923731043/en/
Melissa Witt media@kenvue.com
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