17 March 2023, Philadelphia: FMC Corporation (NYSE: FMC), a leading agricultural sciences company, has had its net-zero science-based target verified by the Science Based Targets initiative (SBTi), making it the first U.S. company and one of only six companies in the world to have an approved target to be achieved by 2035.
“FMC’s emissions reduction target is among the most aggressive to be verified by the SBTi,” said Mark Douglas, FMC president and chief executive officer. “We are proud to be the agricultural company that is leading the way to a net-zero future. It takes conviction and serious, long-range commitments to achieve aggressive net-zero targets. Getting to net-zero on an aggressive timeline is good for the planet and also good for FMC. We encourage other companies to go beyond minimum requirements and make the difficult decisions required to deliver real, absolute reductions in emissions.”
FMC announced its net-zero ambition in 2021 with a commitment to target net-zero greenhouse gas emissions across its value chain by 2035, by far one of the most ambitious timelines. In its approval, SBTi also verified the company’s near-term (by 2030) science-based targets, which include a 42% absolute reduction in Scope 1 and 2 emissions and 25% absolute reduction in Scope 3 emissions. FMC’s net-zero target is aligned with the SBTi Net-Zero Standard of limiting the global temperature rise to 1.5°C. Direct emissions reductions (decarbonization) will be prioritized and all residual emissions will be neutralized (if applicable) in line with SBTi criteria before reaching net-zero emissions.
FMC has made substantial progress in recent years on its sustainability and net-zero goals. The company reduced Scope 1 and 2 greenhouse gas emissions at its operating sites by at least 2% in the last year, while at the same time delivering record growth and increased volume.
“The measures we are taking to limit the global temperature rise to 1.5°C are crucial to mitigating climate-related impacts on agriculture around the world,” said Karen Totland, vice president and chief sustainability officer. “Climate change is one of the biggest risks to global food security, and everyone—companies, growers, governments and consumers must do their part to reduce greenhouse gas emissions. We aim to be an example for others who are serious about implementing aggressive actions that lead to net-zero. Approval from SBTi reaffirms that we are on the right path.”
The SBTi is the lead partner of the Business Ambition for 1.5°C campaign—an urgent call to action from a global coalition of UN agencies, business and industry leaders—mobilizing companies to set net-zero science-based targets in line with a 1.5°C future.
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