Month: March 2023

Electrolux Group has reduced its absolute scope 1 and 2 greenhouse gas emissions (direct and indirect in operations) by 82% compared to 2015 – going beyond its 2025 target of 80%. Scope 3 emissions (when products are in use) also decreased by over 25% compared to 2015, which is in line with the company’s 25% reduction target by 2025. This means the company has reached its 2025 science-based target three years ahead of plan.

“We were among the first 100 companies to set a global ambitious climate target – and now we are among the very first companies to meet it. As a leader in sustainability, we have a responsibility to show what is possible and this result does just that,” says Jonas Samuelson, Electrolux Group CEO.

“Our work doesn’t stop here. We’re already in the process of getting our new science-based target approved while we continuously work toward being a more sustainable company through our operations, products and how we enable consumers to live more sustainably,” adds Vanessa Butani, Electrolux Group VP Sustainability.

“By setting a bold science-based target companies show their commitment to do their part in keeping global warming below 1.5°C in line with the Paris Climate Agreement. Achieving its first ambitious science-based target, Electrolux Group is a great example of an organization working to make our economy fit for people and planet,” says Maxfield Weiss, Executive Director CDP Europe, partner within The Science Based Targets initiative.

Sustainability Report 2022 highlights in brief

Better company 
* 98% of electricity used in global operations comes from renewable sources.
* 124,000 people engaged by the Electrolux Food Foundation on sustainable eating since 2016.
* 35% of ocean cargo transported with more sustainable fuels.

Better solutions 
* The Group’s most energy and water efficient products accounted for 24% of total units sold and 39% of gross profit.
* 70% recycled plastic in the inner liners of the Group’s new built-in refrigerators.
* 4,000 components tested for chemical compliance.

Better living 
* Fridge with Cooling 360 and ColdSense make ingredients last longer and help reduce food waste.
* Millions reached through a global campaign to encourage more sustainable laundry habits.
* First vacuum cleaner without paint to reduce chemical use, energy and material impact.

Further highlights

Innovation drives sustainable products
One sustainability breakthrough was a built-in refrigerator range that includes a new Ecometer to help consumers make more energy efficient choices and inner liners that are made from 70% recycled plastic. In laundry products, new front-load washers save an average of over 450 liters of water per year compared with a top-load washer.

Almost 98% of manufacturing waste recycled or recovered
By the end of 2022, 55% of Electrolux Group factories were certified to its “Zero Waste to Landfill” program – toward the objective to third-party certify all sites by 2025. The goal of the Zero Waste to Landfill program is to recycle and recover more than 99% of the total waste generated by all the company’s manufacturing sites around the world by 2025.

Inspiring kids across the globe on more sustainable eating 
In 2022, the Electrolux Food Foundation launched a toolkit to give teachers the tools to educate kids about sustainable eating. So far 88,000 children globally have become a Food Hero – to promote a more sustainable world. The Food Heroes toolkit is freely available for anyone to download from www.replate.com.

Download the full and short versions of the report here:

Electrolux Group Sustainability Report 2022 – PDF
Electrolux Group Sustainability in Brief 2022 – PDF

About the Science Based Targets initiative 
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

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March 27, 2023 /3BL Media/ – The Association of Corporate Citizenship Professionals (ACCP), the nation’s leading advocate for corporate social impact professionals, today released its fourth annual Making the Case for Corporate Social Impact toolkit. The online toolkit includes curated statistics from over 30 sources and presents them in easy-to-use data points and infographics.

This toolkit equips corporate social impact professionals with a compelling and timely data-driven case for adequate resources and reinforces how CSR and ESG improve business outcomes. The kit is available via download from ACCP.

“It’s more important than ever that corporate social impact professionals have the tools they need to communicate the importance of their work and programs,” said Carolyn Berkowitz, president and CEO of ACCP. “The spotlight on CSR and ESG continues to grow, as does the demand for businesses to be a driving force for social and environmental good. The data in this toolkit illustrates the importance of companies maintaining their commitments despite economic uncertainty.”

When Blackrock CEO and ESG champion Larry Fink engaged in “greenhushing” due to the absence of any mention of ESG in his annual investor letter, Berkowitz fired back calling him out. Fink’s letter underscores the importance of now, more than ever, for CSR professionals to communicate the importance of their work to the business bottom line.

The toolkit – available exclusively online – contains research data from ACCP and other highly reputable CSR researchers, nonprofits, and foundations, including, but not limited to: Porter Novelli, Just Capital, KPMG, Benevity, Fidelity Charitable, Giving USA, and more.

A recent KPMG survey of U.S. CEOs found that 70 percent said their ESG programs improved their financial performance. The report read: “With the potential recession testing CEOs’ commitment to their ESG strategies, reducing investment may lead to long-term financial risks. This test comes at a time when CEOs have made significant strides in tying ESG to profitability, with 70% of U.S. CEOs saying that ESG improves financial performance, compared to 37% last year.”

CSR and ESG professionals can incorporate data from the toolkit into internal and external presentations, speeches, and proposals. Insights and data are categorized based on their value to the business.

Following is a sample of important data points found in the toolkit:

Value

Examples

Competitive Advantage Corporate social impact efforts are a clear driver of a company’s increased financial performance.High-Purpose companies experienced an almost 20% advantage in annualized total shareholder value versus low-purpose companies. [Investing in Society, CECP, 2022]People and Workforce Competition for top talent is challenging, and strong social impact programs positively influence potential talent and increases retention rates of current employees.Millennials are willing to forego an average of 14% of their expected compensation to work at socially-responsible companies. [Closing the Racial Inequality Gap, Citi 2020]

 

Risk Mitigation Impactful CSR programs can have positive effects on many current corporate challenges including upcoming ESG regulations, DEI challenges and maintaining stakeholder trust.83% of companies’ motivation for ESG work is to meet regulations and comply with disclosure rules. [The Morningstar Sustainalytics Corporate ESG Survey Report, 2022]Revenue and Sales 
A reputation as a good corporate citizen wins new and keeps loyal customers. 70% of consumers believe they can influence companies to do better by buying from them when they do. [SB Brands for Good, 2021]

 

Context Catalyzes Action Benchmark peer-specific examples of social impact efforts to keep track of “what everyone else is doing” 

 Corporate giving as a percentage of corporate pre-tax profits averages 1.1% [Giving USA 2022 Annual Report]

To download a copy of the toolkit, visit the ACCP website.

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The Association of Corporate Citizenship Professionals (ACCP) is the preeminent membership organization advancing the practice of corporate social impact. ACCP increases the effectiveness of CSR & ESG professionals and their companies by sharing knowledge, fostering solutions, and cultivating inclusive and supportive peer communities. ACCP amplifies the voices of its practitioner network to elevate strategies that work, provide innovative solutions, and expand impact.