Company exceeds its 2030 1.5°C Climate Goals, Strengthens Commitment on Scope 3 Target
WILMINGTON, Del., Sept. 19, 2024 /PRNewswire/ -- DuPont (NYSE: DD) today announced its commitment to achieve net-zero carbon emissions by 2050. In a letter submitted to the Science Based Targets initiative (SBTi), the company indicated its intent to set long-term science-based greenhouse gas (GHG) emission reduction targets, thereby establishing an end-to-end value chain net-zero target to be verified by SBTi in accordance with SBTi's Net-Zero Standard. The net-zero goal aligns with the rigorous standards set by SBTi and the Paris Agreement, which aims to limit global temperature rise to 1.5°C.
"At DuPont, we're proud to take yet another bold step in our commitment to sustainability that meets the needs of our customers and enables society to thrive," said Alexa Dembek, DuPont Chief Technology & Sustainability Officer. "Our efforts to deliver sustainable innovations and solutions has resulted in exceeding our 2030 climate goals and putting us on a clear path toward decarbonization in our operations and value chains by 2050."
The net-zero commitment builds on the significant progress DuPont has achieved since 2019 when the company established its Acting on Climate Goal as part of its overall sustainability strategy. As announced in April 2024, DuPont has exceeded its climate targets – achieving a 58% reduction in Scopes 1 and 2 emissions from a 2019 baseline and achieving a 39% reduction in Scope 3 emissions from purchased goods and services and end-of-life of sold products from a 2020 baseline. DuPont also surpassed its near-term goal to source 60% of electricity from its operations from renewable sources by 2030, and as a member of RE100, a global initiative led by the Climate Group and in partnership with CDP, is committed to 100% renewable electricity by 2050, including the use of renewable energy certificates.
As part of the commitment letter, DuPont will work to set long-term, net-zero targets in line with the SBTi criteria and recommendations. The targets will be submitted and validated by SBTi within 24 months.
For more information on DuPont's climate progress and overall sustainability performance, please visit dupont.com/sustainability.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.
Cautionary Statement about Forward Looking Statements
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," "stabilization," "confident," "preliminary," "initial," "drive," "innovate" and similar expressions and variations or negatives of these words.
Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not representations or warranties or guarantees of future results.
Forward-looking statements include statements which relate to the purpose, ambitions, commitments, targets, plans, objectives, and results of DuPont's sustainability strategy, including its activities related to substances of concern. Forward-looking statements include statements related to the standards and measurement of progress against the company's sustainability goals, including metrics, data and other information, which are based on estimates and assumptions believed to be reasonable at the time. The actual conduct of the company's activities and results thereof, including the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected in connection with DuPont's sustainability strategy may differ materially from the statements made herein. The use of the word "material" for the purposes of statements regarding our sustainability strategy and goals should not be read as equating to any use of the word in the company's other disclosures or filings with the U.S. Securities and Exchange Commission.
On May 22, 2024, DuPont announced a plan to separate the company into three distinct, publicly traded companies. Under the plan, DuPont would execute the proposed separations of its Electronics and Water businesses in a tax-free manner to its shareholders leaving DuPont to continue as a diversified industrial company following completion of the separations. DuPont expects to complete the separations within 18 to 24 months of the announcement date. The separation transactions will not require a shareholder vote and are subject to satisfaction of customary conditions, including final approval by DuPont's Board of Directors, receipt of tax opinion from counsel, the filing and effectiveness of Form 10 registration statements with the U.S. Securities and Exchange Commission, applicable regulatory approvals and satisfactory completion of financing.
See DuPont's most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission for further description of risk factors that could impact the expectations or estimates implied by the Company's forward-looking statements, including (i) the ability to effect the separation transactions described above, and meet expectations regarding the timing, completion, accounting and tax treatments, and intended benefits related to the separation transactions and other portfolio changes; (ii) risks and costs related to indemnification of legacy liabilities; (iii) risks and uncertainties related to operational and supply chain impacts or disruptions, including ability to offset increased costs, obtain raw materials, and meet customer needs, and (iv) other risks to DuPont's business and operations. Unlisted factors may also present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties, loss of key customers, reputational harm and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
SOURCE DuPont
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