Flora Food Group receives SBTI-approval for climate targets

Company sets targets in line with limiting global temperature increase to 1.5°C

AMSTERDAM, September 23, 2024 — Flora Food Group, global branded food champion, today announced that it has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas emissions reduction targets.

This accreditation demonstrates the company's commitment to combating climate change and aligning its business practices with the latest climate science.

The SBTi has validated that Flora Food Group's near-term and long-term science-based targets conform with the SBTi Criteria and Recommendations, including the SBTi Forest, Land and Agriculture Guidance.

Flora Food Group's approved targets include:

Near-Term Targets (by 2030):

Reduce absolute scope 1 and 2 GHG emissions by 80% by 2030 from a 2020 base year

Reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, and upstream transportation and distribution by 25% within the same timeframe*

Reduce absolute scope 3 FLAG GHG emissions by 30.3% from a 2020 base year**

Achieve no deforestation across primary deforestation-linked commodities by December 31, 2025

Net Zero Long-Term Targets (by 2050):

Reduce absolute scope 1 and 2 GHG emissions by 95% from a 2020 base year

Reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, and upstream transportation and distribution by 90%

The company's overall net-zero target commits Flora Food Group to reach net-zero greenhouse gas emissions across the value chain by 2050.

Sally Smith, Chief Sustainability Officer at Flora Food Group, commented on this milestone:

“Achieving SBTi accreditation is an important step in Flora Food Group’s sustainability journey, but we recognise that the real work is just beginning. These targets are needed and meeting them will require significant effort, not just from us, but from our entire value chain and beyond to deliver. Only by collaborating we can make progress, since we are dependent on decarbonisation across multiple sectors. We believe stronger policy support and a more enabling environment are crucial to drive the systemic changes required going forward”.

This accreditation underscores Flora Food Group's dedication to sustainability and responsible business practices. The company is committed to transparent reporting of its progress and to continuously pushing itself to do more in the fight against climate change.

For more information about Flora Food Group's sustainability initiatives, please visit www.florafoodgroup.com/esg-centre

About Flora Food Group

Global branded food champion Flora Food Group offers the next generation of delicious, natural, nutritious food. Our products are more affordable and more sustainable than their dairy equivalents. We offer consumers a compelling choice in four growing categories: butters and spreads, creams, liquids and cheeses. We hold leadership positions in many of the 100+ countries we operate in, with iconic brands including Flora, Becel+ProActiv, BlueBand, Country Crock, I Can’t Believe It’s Not Butter, Rama, and Violife, together with our local brands and Professional business. We have 150+ years of heritage, deep R&D expertise and a relentless commitment to delivering delicious, nutritious food. We own 15 manufacturing sites across five continents. Flora Food Group is headquartered in Amsterdam (Netherlands) and employs ~4,800 people; the company reported net sales of EUR 3.3 billion in 2023, making it the global leader in plant-based food.



About the Science Based Targets initiative (SBTi)

The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis.

We develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest.

The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services.

For media inquiries, please contact:

Flora Food Group Corporate Communications

Email: media@florafoodgroup.com



*The target boundary includes land-related emissions and removals from bioenergy feedstocks.

**The target includes FLAG emissions reductions and removals.



This press release may contain forward-looking statements with respect to Flora Food Group’s future (financial) performance and position. Such statements are based on current expectations, estimates and projections of Flora Food Group and information currently available to the company. Flora Food Group cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. Flora Food Group has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.