Tate & Lyle sets new environmental targets

Tate & Lyle, a supplier of food and beverage ingredients and solutions, has announced a set of new environmental targets and commitments. These targets are aligned to the delivery of Tate & Lyle’s purpose, Improving Lives for Generations, a key pillar of which is to care for the planet and protect its natural resources for the benefit of future generations.

Tate & Lyle’s new environmental targets are, by 2030, to deliver:

• 30% absolute reduction in Scope 1 and 2 carbon dioxide equivalent (CO2e) emissions, with an ambition to reach a 20% reduction by 2025;
• 15% absolute reduction in Scope 3 CO2e emissions;
• 100% of its waste to be beneficially used, with an ambition to reach 75% by 2025; and
• 15% reduction in water use.

In adopting these targets, Tate & Lyle commits to the following:

• Eliminate the use of coal from its operations by 2025.
• Establish its Scope 1, 2, and 3 CO2e emissions reductions as Science-Based Targets.
• Maintain sustainable acreage equivalent to the volume of corn Tate & Lyle buys each year globally, currently 1.5 million acres, and through partnerships accelerate the adoption of conservation practices.

To demonstrate its commitment to the new environmental targets, Tate & Lyle has linked the pricing of its $800 million revolving credit facility, extended in May 2020, to the delivery of its new Scope 1 and 2 CO2e emissions, beneficial waste, and water reduction targets.

“There has never been a greater need for businesses to address the climate change crisis. One of the key pillars of our purpose of Improving Lives for Generations is to care for our planet, and with our new environmental targets and commitments we are taking decisive action to protect our planet’s natural resources for the benefit of future generations,” said Nick Hampton, chief executive at Tate & Lyle, in a press release.