UPL joins science-based commitments to urgent GHG Reduction against climate change

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Feb 23, 2023, 06:25 ET

UPL's Greenhouse Gas (GHG) emissions reduction commitments approved by Science Based Targets initiative (SBTi) in-line with climate science
UPL will make significant reductions to its GHG emissions by 2034 in-line with SBTi recognized well-below 2°C global temperature rise trajectory
CEO Jai Shroff describes commitment as recognition of the need to 'one of the most urgent challenges of our times' as part of UPL's Reimagining Sustainability mission

LONDON, Feb. 23, 2023 /PRNewswire/ -- UPL Ltd. (NSE: UPL), (BSE: 512070), (LSE: UPLL) ('UPL') a global provider of sustainable agricultural solutions, announces that its near-term company-wide emission reductions commitments in line with climate science have been approved by the Science Based Targets initiative (SBTi).

UPL Limited commits to reduce scope 1 and scope 2 GHG emissions 63.12 % per ton of agrochemical by FY 2034 from FY 2019 base year, equivalent to a 37.5 % absolute reduction. UPL Limited also commits to reduce scope 3 GHG emissions from purchased goods and services, fuel and energy-related activities, and upstream transportation & distribution 42% per ton of agrochemical within the same timeframe.

Jai Shroff, Global CEO, UPL Ltd., said: "Addressing climate change is one of the most urgent challenges of our times. At UPL, we're Reimagining Sustainability by transforming agriculture into a climate positive industry – and that includes our own company. With this commitment to reducing GHG emissions we recognize that importance of rapid, deep and effective emissions cuts to limit global temperature rise to 1.5°C and we call on all our partners and stakeholders in the agriculture sector to join us in this commitment to climate science-based targets to combat climate change."

UPL will continue to advance measures to reduce the emissions profile of its manufacturing and supply chain through several initiatives including increased reliance on renewable energy and reduce water consumption and waste generation across its operations.

About UPL

UPL Ltd. (NSE: UPL), (BSE: 512070), (LSE: UPLL) is a global provider of sustainable agriculture products and solutions, with annual revenue exceeding $6bn. We are a purpose-led company. Through OpenAg^®, UPL is focused on accelerating progress for the food system. We are building a network that is reimagining sustainability, redefining the way an entire industry thinks and works – open to fresh ideas, innovation, and new answers as we strive towards our mission to make every single food product more sustainable. As one of the largest agriculture solutions companies worldwide, our robust portfolio consists of biologicals and traditional crop protection solutions with more than 14,000 registrations. We are present in more than 130 countries, represented by more than 10,000 colleagues globally. For more information about our integrated portfolio of solutions across the food value chain including seeds, post-harvest, as well as physical and digital services, please visit upl-ltd.com and follow us on LinkedIn, Twitter, Instagram and Facebook.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets. www.sciencebasedtargets.org @sciencetargets

For more information, please contact:

UPL

Reina Roets
Head of Global Marketing Communications
UPL Ltd.
[email protected]

Radhika Arora
Head of Investor Relations
UPL Ltd.
[email protected]

SOURCE UPL Ltd.