Issue 46 | March 2023
Dufry, First Travel Retailer with Validated SBTi Objectives
The abbreviation SBTi most probably doesn’t ring many bells with most of you? But in the context of Environmental, Social and Governance (ESG), SBTi - the acronym for Science Based Target initiative - is one of the most credible institutions.
Without getting into technicalities, it is the most rigorous standard chosen by the world's leading companies when articulating their carbon footprint and emissions reduction strategies. What SBTi does, is to provide companies with science-based criteria to assist them in reducing the excessive emissions and, based on the company's activity, emission reduction targets are set to help keep global warming below 1.5° compared to the pre-industrial stage (Paris Agreements). And since February, Dufry has officially SBTi-validated emission reduction targets. Something we can be very proud of!
Our commitments
Dufry has established an emission reduction strategy for Scope 1 & 2 emissions to eliminate emissions from its own operations through energy efficiency measures, and commits to increase annual sourcing of renewable electricity from 0% in 2019 to 100% by 2025. In addition, Dufry wants to achieve climate neutrality of its own operations (Scope 1 & 2 emissions) by 2025, by compensating unavoidable emissions with carbon offsetting initiatives to be defined in the near future.
For Scope 3 emissions, Dufry has established two separate objectives to be achieved:
- Dufry commits that 74% of its suppliers will have SBTi validated emission reduction targets covering their goods and services by 2027
- Dufry commits to reduce absolute Scope 3 GHG emissions of upstream transportation emissions by 28% by 2030
Industry first
Retail powerhouses, including IKEA, Carrefour, Marks & Spencer or Walmart have SBTi approved targets. However, when it comes to the travel retail sector, Dufry is the first travel retailer to have such a commitment – making a difference with the rest our peers.
Within our industry, both brand partners – e.g.: Estée Lauder, British American Tobacco, Diageo, Mondelez – as well as some of our airport partners - have either approved SBTi targets or have committed to have them. If you are interested, you can look up who´s involved by visting this website.
The SBTi journey
Applying to be part of the SBTi is a five-step process:
- Commit - First, a business or company seeking to reduce their emissions through the SBTi should write and send a letter illustrating their commitment to using science-based targets to improve their carbon footprint. Something Dufry did at the beginning of 2022.
- Develop - At this point, the company starts developing an emissions reduction plan in accordance with the science based criteria provided by the SBTi.
- Submit - Companies should apply for their new plans to be validated. A process that can last for months and on which a team of specialists review the submission to ensure the goals are in line with the science-based criteria of the Science Based Targets initiative. Dufry´s SBTi target submission took place by the end of Q2 2022.
- Communicate – Once the targets are approved by the SBTi, they are published on the Science-Based Targets initiative’s official website, as well as on all of their partner pages for maximum visibility and accountability. At the same time, companies have six months to show their commitment by publicly communicating their targets.
- Disclose - All companies that are approved by the SBTi are required to delineate their progress to the public.
