This milestone underscores Pandora's dedication to decarbonizing its operations in alignment with the Paris Agreement's goal of limiting global temperature rise to 1.5°C.
The SBTi endorsement confirms Pandora's strategy to reduce emissions by at least 90% across its entire value chain, utilizing permanent carbon removal to offset any remaining emissions. Previously, SBTi had validated Pandora's target to halve greenhouse gas emissions throughout its operations and value chain by 2030.
By 2023, Pandora had already achieved a notable 27% reduction in its full value chain emissions compared to its 2019 baseline. This accomplishment was facilitated by sourcing 100% renewable energy for its manufacturing facilities and transitioning to 100% recycled silver and gold for its precious metals supply.
Looking ahead, Pandora plans to intensify its efforts by collaborating closely with suppliers, enhancing manufacturing and logistics efficiencies, and advancing material circularity initiatives. The company anticipates that emissions reduction progress towards 2030 may not follow a linear path, impacted by growth activities and improved data accessibility.
Mads Twomey-Madsen, Senior Vice President of Global Communications and Sustainability at Pandora, emphasized the urgency of climate action, stating, "By aligning our net-zero target with SBTi, we reaffirm our commitment to significantly reduce our carbon footprint and contribute to a sustainable future. We urge partners and industry peers to join us in this critical endeavor."
Luiz Amaral, CEO of Science Based Targets, highlighted the importance of Pandora's ambitious climate goals, noting, "Pandora's net-zero targets are aligned with the urgency of the climate crisis and serve as a compelling example for others in the industry to follow."
