Publishes New TCFD Report Assessing Climate Impact
Colgate-Palmolive (NYSE: CL) today launched its 2021 Sustainability & Social Impact Report, which outlines recent advancements toward its ambitious sustainability goals. The report includes the Company’s new Climate Action & Net Zero Carbon transition and targets and introduces an enhanced framework to meet its ambition of Driving Social Impact, recognizing that environmental stewardship and social impact are interdependent and essential to protecting and enhancing the planet.
In addition to the 2021 Sustainability & Social Impact Report, Colgate also recently published its first report aligned with recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD), highlighting the Company’s strategy to address the risks and opportunities related to climate change.
“At Colgate, we firmly believe that Sustainability & Social Impact go hand in hand. I am proud that our strategy prioritizes both sustainability and social impact initiatives so that we can empower communities across the globe to have brighter, healthier futures,” said Ann Tracy, Chief Sustainability Officer, Colgate-Palmolive. “By striving to make progress across our three key ambitions – Driving Social Impact, Helping Millions of Homes, and Preserving Our Environment – we can make a positive impact on all people, their pets and our planet.”
In 2021, Colgate achieved measurable steps toward its 2025 Sustainability & Social Impact Strategy, executing across 11 actions and more than 50 targets for building a more sustainable future. Top achievements include:
- Accelerating Action on Climate Change: In the report, Colgate announced the climate transition approach and targets to reduce Scope 1, 2, and 3 emissions by 20% by 2025, by 42% by 2030, and reach Net Zero carbon emissions across the value chain by 2040.1
- Eliminating Plastic Waste: As of December 31, 2021, approximately 84% of Colgate’s packaging across categories and materials by weight was technically recyclable. Colgate’s first-of-its-kind recyclable toothpaste tube2 – breakthrough technology that the Company is freely sharing with the industry – exemplifies this progress.
- Reducing Waste: Twenty-six Colgate plants across five continents have been certified as Total Resource Use and Efficiency (TRUE®) Zero Waste compliant, as of December 31, 2021, with six new certifications added in 2021 alone. Colgate has more certifications, which assess business performance in reducing waste, than any other company.
Driving Social Impact
Colgate is committed to ensuring the well-being of those we serve, building a culture of inclusivity and creating meaningful opportunities for all people to succeed inside and outside of Colgate. Within its 2021 Sustainability & Social Impact Report, Colgate unveiled an enhanced ambition for Driving Social Impact, which focuses on three actions:
- We inspire our people to make a difference
- We create a more inclusive world
- We help children, their families and communities thrive
Additionally, the company released a separate 2022 Diversity, Equity & Inclusion Report, which outlines key accomplishments and areas of opportunity.
As part of its commitment to advance communities’ health and well-being, Colgate strengthened its flagship corporate social responsibility initiative, Bright Smiles, Bright Futures, which has reached more than 1.4 billion children and their families since its inception in 1991.
Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, we sell our products in more than 200 countries and territories under brands such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom's of Maine, EltaMD, Filorga, Irish Spring, PCA SKIN, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill's Science Diet and Hill's Prescription Diet. We are recognized for our leadership and innovation in promoting sustainability and community well-being, including our achievements in decreasing plastic waste and promoting recyclability, saving water, conserving natural resources and improving children's oral health through the Colgate Bright Smiles, Bright Futures program, which has reached more than 1.4 billion children since 1991. For more information about Colgate's global business and how we are building a future to smile about, visit www.colgatepalmolive.com. CL-C
All statements in this press release that are not historical, including targets for and projections for future results, the expected achievement and effect of our sustainability and diversity, equity and inclusion strategies and initiatives, including our 2025 Sustainability & Social Impact Strategy, and the amounts and timing of their expected impact are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and the rules, regulations and releases of the U.S. Securities and Exchange Commission (SEC). Forward-looking statements are based on management’s views and assumptions as of the date they were made and, except as required by law, we undertake no obligation to update these statements as a result of new information and we make no representation, express or implied, that the information is still accurate or complete. We caution that such forward-looking statements are not guarantees of future performance and that actual events or results may differ materially from these statements due to a number of factors. Information about factors that could impact our business and cause actual results to vary, possibly materially, from these forward-looking statements, can be found in our ﬁlings with the SEC, including the information set forth under the captions “Risk Factors” and “Cautionary Statement on Forward-Looking Statements” in Colgate’s Annual Report on Form 10-K for the year ended December 31, 2021 for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q.
1 Scope 1 and 2 defined as GHG emissions in operations; Scope 3 defined as emissions from Purchased Goods & Services (excludes Scope 3 Categories 2, 9, 11 & 12 per Science Based Target initiative's Net Zero Standard).
2 During this transition phase, acceptance of tubes at certain recycling facilities may be limited and consumers should check locally. Learn more here.
Today @CP_News launched its 2021 Sustainability & Social Impact Report, which outlines recent advancements toward its ambitious sustainability goals. Full report here: https://bit.ly/colgatesustainability