Colgate-Palmolive is making great progress towards its goal of achieving net zero carbon emissions by 2040. As part of this commitment, the company has entered into a 20-year virtual power purchase agreement (VPPA) for renewable energy from a solar farm in Texas. The Markum Solar Farm, developed by Scout Clean Energy, will begin operation in 2025 and will supply clean, renewable energy to cover 100% of Colgate’s operational power needs in the U.S. This agreement is a significant step in Colgate’s efforts to transition to renewable energy and reduce greenhouse gas emissions.
In 2020, Colgate-Palmolive became the first multinational company in its sector to have a Science Based Targets initiative (SBTi)-approved Net Zero target. The company aims to achieve net zero carbon emissions across its operations and supply chain by 2040 and to have 100% renewable electricity in its global operations by 2030. This commitment to sustainability and reducing emissions is a key part of Colgate’s long-term strategy.
To achieve its net zero goals, Colgate is pursuing various strategies. These include investing in energy efficiency, creating less carbon-intensive products, and influencing suppliers to reduce their carbon footprint. The company is also focusing on deploying lower carbon technologies, such as zero carbon and renewable energy sources, and utilizing renewable energy credits and power purchase agreements.
Additionally, Colgate is exploring the use of carbon removals to neutralize any residual emissions from its value chain. The company is investing in nature-based solutions, including forest protection and reforestation projects, supported by verified carbon credits. These initiatives not only help reduce carbon emissions but also provide additional benefits to the communities where they are located.
Colgate’s commitment to renewable energy and carbon removals is an important milestone in its journey towards net zero emissions. It demonstrates the company’s dedication to sustainability and its efforts to combat climate change. By embracing innovative and diverse approaches, Colgate-Palmolive is taking significant steps to achieve its ambitious targets and contribute to a more sustainable future.
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