Dear Reader,
Sustainability experienced some headwinds in 2024, driven by geopolitical and economic volatility. Some businesses adopted a wait-and-see approach to evolving policies and regulations, but at dsm-firmenich, we held true to our course.
Sustainability is embedded into who we are and how we operate. It is not something we want to question. The strongest proof of this is in our new SBTi validated climate targets, including an ambitious goal of achieving net zero across our full value chain by 2045.
For us, sustainability means delivering progress for People and Planet by combining the essential, the desirable, and the sustainable. As a leading innovator in nutrition, health, and beauty, we contribute to the health and well-being of the world’s population. We provide products that are designed to have a low environmental footprint. And, looking beyond our own products, we aim to deliver positive impact throughout the value chains in which we operate and to support our customers in solving their own sustainability challenges.
Sustainability is never a stand-alone concept or a bolt-on. It guides our entire approach from how we design and innovate to how we source and manufacture, and how we deliver to the market. In Our Stories you can find many illustrations of this philosophy in action, such as ‘Accelerating a customer’s portfolio transition to algal omega-3’ and ‘Making a positive impact in Madagascar’s value chains’.
In the first year of CSRD reporting, we intensified our drive for best-in-class sustainability performance with rigorous implementation of existing programs and the establishment of exciting new targets.
Progress for People
We empower people to thrive by fueling healthy and active lives, while nurturing a more inclusive and equitable world for both employees and communities worldwide. This includes a strong focus on people and a range of programs built on positive social impact in our value chains and beyond. Key highlights in 2024 included:
- Making a significant improvement in our Safety, Health & Environment (SHE) performance compared to 2023 and implementing key elements of our Safety, Health, Environment & Security (SHE&S) management system and processes
- Introducing a new approach to performance management, embedding our values, establishing a new learning platform with bespoke solutions, and agreeing the design of the rewards integration system
- Accelerating the integration of our essential people processes to create a culture of ONE
- Reaching 620 million vulnerable people with our high-quality nutritional intervention solutions and renewing our partnership with the World Food Programme for 2025–2027
Progress for Planet
We work to foster a world with net-zero emissions as well as resilient and regenerative ecosystems. We work autonomously and within partnerships and coalitions to accelerate action on climate and to safeguard and restore nature and biodiversity. Key highlights in 2024 were:
- Receiving validation of our net-zero and near-term climate targets by the SBTi. For Scope 1 & 2, we are targeting a 42% reduction in CO2e by 2030 versus 2021. For Scope 3, this is 25%. We are aiming for net-zero across all Scopes by 2045
- Developing our first-ever dsm-firmenich Climate Transition Action Plan
- Being represented at COP16, and signing the Business for Nature (BfN) COP16 Business Statement to urge governments to strengthen the policies, incentives, and legislation that will drive the business actions necessary to halt and reverse nature loss by 2030
Creating value for all stakeholders
Our sustainability agenda drives value by protecting and growing our business, making us attractive to customers who seek innovative and sustainable products. It helps us explore and develop new markets and makes us more attractive to investors via positive ESG ratings. Our position as a sustainability leader is also a key factor in attracting and retaining young talent, and helps future-proof our business against many potential risks
Our journey to bring progress to life
Implementing new reporting standards is rarely easy, and the introduction of the EU Corporate Sustainability Reporting Directive (CSRD) in 2024 presented many challenges. I am pleased with what we achieved and hope that the Sustainability chapters of this Report provide clear and transparent insight into our progress. Looking beyond, I am also excited by the targets that will guide our sustainability journey in the years to come.
Warm regards,
Katharina Stenholm
Chief Sustainability Officer
