Birds Eye Parent Company Nomad Foods Joins Race to Zero, Accelerating Decarbonisation Across Its Value Chain | Financial Buzz

Birds Eye Parent Company Nomad Foods Joins Race to Zero, Accelerating Decarbonisation Across Its Value Chain

Nomad Foods Limited (NYSE: NOMD), Europe’s leading frozen food company, has today announced plans to significantly reduce Greenhouse Gas (GHG) emissions with approved science-based targets across its operations and supply chain. The targets are consistent with the reductions required to keep global warming to 1.5°C, the most ambitious goal of the Paris Climate Agreement.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210909005076/en/

In addition to reducing Scope 1 and 2, and Scope 3 emissions in areas such as purchased goods, transportation and distribution by 25% in absolute terms over the next four years; Nomad Foods will also provide vital support to its suppliers, ensuring that the top 75% by emissions, develop their own science-based targets by 2025.

The new targets have been approved by the Science Based Targets initiative (SBTi) and build on significant progress already made under Nomad Foods “Eating for the Planet” sustainability strategy which includes timebound commitments on sourcing, nutrition and operations.

– In 2020 Nomad Foods significantly reduced carbon emissions per ton of finished goods by more than 20% and absolute emissions by nearly 11%, despite dramatically increased production volumes as a result of the Covid-19 pandemic.

– In 2020, Nomad Foods became a signatory of the 10x20x30 global initiative to halve food loss and waste in supply chains by 2030. It has already reduced edible food waste per ton of finished goods by 31% compared to a 2015 baseline as well as preventing surplus edible food from being wasted by donating 1.7 million meals to food banks in 2020.

– The company is on track to move to 100% renewable electricity across all factories3 by October 2021.

– In 2021, Nomad Foods demonstrated further commitment to the Company’s sustainability strategy by incorporating KPIs covering sourcing, packaging and GHG emissions into its refinancing structure.

Stéfan Descheemaeker, Nomad Foods’ Chief Executive Officer, said, “Every day, millions of households enjoy products from Birds Eye, Findus, iglo and our other leading brands and we want to ensure that when consumers choose our products it’s a positive choice for them and for the planet. As attention focuses on the COP 26 Climate Change Conference in November, we must all step up to the challenge of delivering a net-zero economy. We are excited that the SBTi has validated our emission reduction targets and as we commit to the Business Ambition for 1.5°C campaign and the UN’s Race to Zero we recognise that we cannot succeed on our own.

“We have a diverse supply chain that spans from fisheries to farming and accounts for almost 80% of our greenhouse gas emissions. I’m very proud of the work we are doing to collaborate with suppliers and deliver the wider change needed to help consumers eat sustainably.

“By focusing first on our 2025 milestones, we will almost halve emissions per ton of product and ensure the top 75% of our suppliers by emissions have science-based reduction targets in place. This will ensure we reach net-zero well before 2050, as we deliver on our promise of long-term sustainable growth for shareholders.”

“We congratulate Nomad Foods on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement,” said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. “By setting ambitious science-based targets grounded in climate science, Nomad Foods is taking action to prevent the most damaging effects of climate change.”

Klaus Beyer Nielsen, CEO of Nomad Foods’ strategic supplier Espersen4, said “The partnership between Espersen and Nomad Foods is built on a solid foundation. Our joint business planning has been an enabler to further strengthen our collaboration and has driven sustainable innovation, resource efficiency and consumer value. Environment and climate have always been an important part of Espersen’s sustainability agenda throughout the value chain. The fact that Nomad Foods’ climate goals have been approved by the Science-Based Targets Initiative sends a clear signal to us as a strategic supplier to reduce our own emissions further. In addition, we will also urge our producers to reduce their climate impact.”

1 Compared to 2019 baseline

2 Suppliers account for approximately 80% of Nomad Foods’ total emissions 

3 This excludes Findus Switzerland which was newly acquired in January 2021

4 Espersen is a world leader in the processing of high-quality frozen fish blocks and frozen fish fillets and has been a key supplier of Nomad Foods for over 20 years – for further information please visit Espersen’s website http://www.espersen.com/

About Nomad Foods

Nomad Foods (NYSE: NOMD) is Europe’s leading frozen foods company. The company’s portfolio of iconic brands, which includes Birds Eye, Findus, iglo, Aunt Bessie’s and Goodfella’s, have been a part of consumers’ meals for generations, standing for great tasting food that is convenient, high quality and nutritious. Nomad Foods is headquartered in the United Kingdom. Additional information may be found at www.nomadfoods.com

Notes to editors:

About Nomad Foods targets

Nomad Foods commits to reduce scope 1 and 2 and scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, waste and upstream leased assets 45% per ton of product produced and 25% in absolute terms, by 2025 from a 2019 base year. Nomad Foods also commits that the top 75% of its suppliers by emissions covering purchased goods and services will have science-based targets by 2025.

The SBTi classifies targets against the long-term temperature pathways of well-below 2°C and 1.5°C. The SBTi’s Target Validation Team has classified Nomad Foods’ scope 1 and 2 target ambition and has determined that it is in line with a 1.5°C trajectory.

About the SBTi

The Science Based Targets initiative (SBTi) aims to drive ambitious corporate climate action. It mobilizes companies to set science-based targets to reduce greenhouse gas emissions and boost their competitive advantage in the transition to the low-carbon economy. It is a partnership between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute(WRI) and the Worldwide Fund for Nature(WWF).

The SBTi call to action is one of the We Mean Business Coalition commitments. The initiative 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.

Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered to be “science based” if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

About Race To Zero

Race To Zero is a global campaign to rally leadership and support from businesses, cities, regions, investors for a healthy, resilient, zero carbon recovery that prevents future threats, creates decent jobs, and unlocks inclusive, sustainable growth

It mobilizes a coalition of leading net zero initiatives, representing 733 cities, 31 regions, 3,067 businesses, 173 of the biggest investors, and 622 Higher Education Institutions. These ‘real economy’ actors join 120 countries in the largest ever alliance committed to achieving net zero carbon emissions by 2050 at the latest. Collectively these actors now cover nearly 25% global CO2 emissions and over 50% GDP.

The objective is to build momentum around the shift to a decarbonized economy ahead of COP26, where governments must strengthen their contributions to the Paris Agreement. This will send governments a resounding signal that business, cities, regions and investors are united in meeting the Paris goals and creating a more inclusive and resilient economy.

Contacts

Nomad Foods

Media

Sam Fulton

Group Director of Corporate Affairs

sam.fulton@nomadfoods.com

+44 7936 924691

Oliver Thomas

Corporate Affairs Manager

oliver.thomas@nomadfoods.com

+44 7568 108744

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