As a key part of our sustainability and decarbonization strategy, we have recently formalized our commitment to the Science Based Targets Initiative (SBTi).
SBTi is the leading international framework for setting emission reduction targets aligned with climate science. Its purpose is to ensure that companies contribute effectively to limiting global warming to 1.5 °C, in line with the Paris Agreement.
By joining this initiative, we commit as a Group to define and validate short-term greenhouse gas (GHG) emission reduction targets (5–10 years) across all major sources of GHG emissions:
- Scope 1 (direct emissions): from sources owned or controlled by us.
- Scope 2 (indirect emissions): associated with the generation of electricity, heat, or steam we purchase.
- Scope 3 (value chain emissions): all other indirect emissions occurring across our value chain, both upstream and downstream, including FLAG emissions (related to forestry, land use, and agriculture) and non-FLAG emissions (such as logistics, business travel, and product end-use).
This commitment requires us to submit our global decarbonization plan within a maximum of 24 months. As a first step, we are already working on the decarbonization plan for Scope 1 and 2 emissions of our Spanish rice subsidiary, Herba Ricemills, which will serve as a pilot model for the rest of the Group’s companies.
In a later phase, we will address the design of the Scope 3 decarbonization strategy, which represents the greatest challenge for the Group due to the nature of indirect emissions—mainly from our sourcing and logistics operations—and which account for approximately 95% of our total carbon footprint.
