from EDENRED (EPA:EDEN)
SBTi approves Edenred's 2030 and 2050 carbon emission reduction targets
Press release
October 10, 2024
SBTi approves Edenred's 2030 and 2050 carbon emission reduction targets
Edenred, the leading digital platform for services and payments, and the everyday companion for people at work, has had its targets for reducing greenhouse gas emissions approved by the Science Based Targets initiative[1]. These ambitious targets put Edenred on a trajectory in line with the Paris Agreement objective of limiting global warming to +1.5°C above pre-industrial levels.
The 6th Assessment Reportof the Intergovernmental Panel on Climate Change (IPCC) - described by the United Nations (UN) as a ‘code red for humanity’ - shows that it is still possible to limit the increase in global temperature to +1.5°C, but we are dangerously close to this threshold.
Convinced that action by the private sector is crucial to meet the target set by the Paris Agreement, Edenred announced in 2022 its ambition to achieve Net-Zero Carbon by 2050, as part of its ‘Beyond 22-25’ strategic plan.
On this occasion, the Group also strengthened its ‘Ideal’ CSR policy by formalising key performance indicators, accompanied by quantifiable targets with two milestones in 2030 and 2050.
By obtaining SBTi's approval of these targets, Edenred joins over 5,000 companies pioneering this approach.
Edenred is committed to:
- Reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions 51.4% by 2030, and 90% by 2050, from a 2019 base year[2];
- Reduce its scope 3 GHG emissions 55% per million EUR value added by 2030 and 97% by 2050, from a 2019 base year 2.
In order to achieve these ambitious targets, Edenred has put in place a concrete plan to reduce its carbon emissions that covers the energy consumption of buildings, the reduction of the environmental footprint of IT equipment and servers, the adoption of a sustainable procurement policy and the elaboration of an ethics charter for its suppliers.
In addition to reducing its own carbon emissions, Edenred, being aware of its own role in its ecosystem, supports its customers in their transition by offering them more environmentally-
friendly ‘eco-services’, encouraging the shift to a more sustainable mobility and combating food waste.
Flore Cholley, Edenred's ESG and Sustainable Development Director, said: "Edenred has always been convinced that economic performance and social, societal and environmental performance go hand in hand. The approval of our carbon emissions reduction targets by SBTi marks a crucial step for the Group as it recognises our commitment to sustainable growth and value creation that benefits all stakeholders. This is in line with our purpose, ‘Enrich connections. For Good.’ We are determined to continue our efforts to meet these ambitious targets and to involve our customers and partners in this responsible approach.”
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About Edenred
Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 60 million users and more than 2 million partner merchants in 45 countries via close to 1 million corporate clients.
Edenred offers specific-purpose payment solutions for food (such as meal benefits), engagement (such as gift cards and engagement platforms), mobility (such as multi-energy solutions, including EV charging, maintenance, toll and parking) and corporate payments (such as virtual cards).
True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and sustainable mobility.
Edenred’s 12,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.
In 2023, thanks to its global technology assets, the Group managed €41 billion in business volume, primarily carried out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their
owners.
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CONTACTS
Communications Department
Emmanuelle Châtelain
+33 (0)1 86 67 24 36 emmanuelle.chatelain@edenred.com
Media Relations
Matthieu Santalucia +33 (0)1 86 67 22 63 matthieu.santalucia@edenred.com
Investor Relations
Cédric Appert
+33 (0)1 86 67 24 99 cedric.appert@edenred.com
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[1] The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). SBTi defines and promotes best practice in science-based target setting and independently assesses companies' targets.
[2] The target boundary includes land-related emissions and removals from bioenergy feedstocks.
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