We are serious about making a net positive impact on biodiversity in critical areas of our operations and supply chain by 2040 and eliminating deforestation in our supply chain by 2025. To reach this objective, we joined the Science Based Targets Network (SBTN) to focus our efforts on the relevant actions so both nature and business can thrive.

In 2023, we undertook the mapping and materiality assessment on biodiversity across our value chain to help us set targets in areas that matter the most and to measure our progress.

This assessment shows that the biggest impact on biodiversity comes from land conversion and water withdrawal from our upstream activities, mainly from agricultural suppliers.

In 2024 we are focused on collaborating with our suppliers to develop plans to address these two risk areas and develop an appropriate monitoring system to measure deforestation at supplier level.

In our direct operations, we currently report on seven manufacturing sites adjacent to critical to biodiversity areas. We have initiated a few biodiversity projects in some of these sites.

We will now learn from these and take action in all the critical areas by following the official SBTN guidance and engaging with our business partners and the local communities.

In 2024, we are implementing the recommendations of the Taskforce on Nature-related Financial disclosures (TNFD) recommendations and will continue our SBTN roadmap to define our actions.