Univar Solutions Provides Science Based Targets Initiative Update

USA - English

News provided by

Sep 11, 2023, 08:00 ET

The Company will build a Scope 3 emissions reduction roadmap, targeting net-zero emission by 2050, outside of the Science Based Targets Initiative (SBTi) scope, while still being committed to existing near-term Scope 1 and Scope 2 goals.

DOWNERS GROVE, Ill., Sept. 11, 2023 /PRNewswire/ -- Univar Solutions Inc. ("Univar Solutions" or "the Company"), a leading global solutions provider to users of specialty ingredients and chemicals, today announced an update to its environmental, social, and governance (ESG) journey in regard to its alignment with net-zero emissions target setting. While remaining committed to our Scope 1 and Scope 2 targets, Univar Solutions will measure Scope 3 emissions reduction goals outside of the SBTi scope, opting to instead build a robust roadmap through close collaboration with its supply chain. The Scope 3 roadmap and in-development near-term goal will be published on the Univar Solutions ESG website and updated through the annual ESG report, ensuring credibility, and transparency as well as industry comparability.

Univar Solutions Provides Science Based Targets Initiative Update

"As a company with a value where 'We Do What We Say', this next step in our journey was necessary to better focus our efforts on climate action and emissions reduction in a way that enables us to partner with our suppliers on their emission reduction journeys," said Jen McIntyre, chief people & culture officer and executive ESG lead at Univar Solutions. "We look forward to working even closer within industry to progress our collective climate action commitments."

Originally announced in 2019, Univar Solutions will continue its pledge to the 'Business Ambition for 1.5°C' campaign supported by the United Nations Global Compact (UNGC), of which the company is a signatory member. Through its pledge to the campaign, the Company had set a target to achieve net carbon neutrality by 2050, in support of the campaign's goal to limit global temperature rise to 1.5°C above pre-industrial levels.

"With ~95 percent of our combined emissions being associated with the products and services we source, our ability to reduce our Scope 3 and total emissions is heavily weighted by the actions of our suppliers and our ability to work with others to drive lower emissions," said Liam McCarroll, global sustainability director for Univar Solutions. "Building a roadmap with our supply chain partners will allow us to achieve challenging yet impactful targets as we continue our push to reach net carbon neutrality by 2050."

For more information about Univar Solutions' progress to a more sustainable future, please visit: https://www.univarsolutions.com/sustainability

About Univar Solutions
Univar Solutions is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at univarsolutions.com.

Forward-Looking Statements and Information

This communication contains "forward-looking statements" under applicable law regarding financial and operating items relating to the Company's business. Forward-looking statements generally can be identified by words such as "believes," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates," "anticipates" or other comparable terms. All forward-looking statements made in this communication are qualified by this cautionary language.

Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control, that could result in expectations not being realized or could otherwise materially and adversely affect the Company's business, financial condition, results of operations or cash flows. Although the forward-looking statements are based on what management believes to be reasonable assumptions, we caution you that the forward-looking information presented in this communication is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this communication. For additional information regarding factors that could affect the Company, please see the Company's most recent annual report and other financial reports, including the information set forth under the caption "Risk Factors." Any forward-looking statements represent the Company's views only as of the date of this communication and should not be relied upon as representing the Company's views as of any subsequent date, and the Company undertakes no obligation, other than as may be required by law, to update any forward-looking statement.