Crown Holdings, a leading global packaging supplier, announced today that its updated near-term and new net-zero targets have been officially validated by the Science Based Targets initiative (SBTi), formalizing the ambition to reach net-zero greenhouse gas emissions across the value chain by 2050.
SBTi develops standards and guidance which allow companies and financial institutions to set GHG emissions reductions targets that will keep the global temperature increase below a 1.5°C threshold (compared to pre-industrial levels) and reach net-zero emissions by 2050. Crown has made an ambitious commitment to reduce its Scope 1 and 2 GHG emissions by 50% and its Scope 3 emissions by 27.5% by 2030 (using a 2019 baseline). The Company is among 6,000 organizations that have adopted science-based targets and serves as one in only 1,000 that have set net-zero targets.
"Crown is in a unique position to play a key role in industry sustainability by reducing our own greenhouse gas emissions while simultaneously providing infinitely recyclable products to consumers," said Crown Holdings Chairman, President and CEO Tim Donahue. "Our bold Twentyby30™ sustainability initiative is built on science, and SBTi validation of our new net-zero target reinforces our commitment to measurable progress."
Crown's latest alignment with SBTi follows previously validated near-term targets established with the launch of the Company's Twentyby30 program in 2020. Five years later, Crown remains on track to meet those goals and has elevated its commitment.
"We are proud to share this approval from SBTi, which reflects our strong climate commitment and builds on the significant progress we have already made through our Twentyby30 sustainability program," said Sandrine Duquerroy-Delesalle, Vice President of Global Sustainability & External Affairs. "Achieving this latest validation is a critical next step as we continue to drive emissions reductions across our value chain and work collaboratively with our suppliers, customers and stakeholders to reach net-zero by 2050."
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida.
