FMC Corporation among just six companies in the world to have its net-zero target by 2035 verified by the Science Based Targets initiative
With this approval FMC becomes:
PHILADELPHIA, March 16, 2023 /PRNewswire/ --
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 th 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.
Additional information about FMC's sustainability progress and updated goals, including an online copy of the 2021 sustainability report, is available at fmc.com/sustainability. The company's 2022 sustainability report will be published in May.
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,600 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains statements that are "forward-looking" and provide other than historical information. FMC has identified forward-looking statements by such words or phrases as "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "targets" "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases. Such forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2022 Form 10-K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
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