Pandora’s net-zero climate goal validated by the Science Based Targets initiative
By aligning with the gold standard for climate action, Pandora reinforces its leadership in sustainability.
The leading corporate climate action organization Science Based Targets initiative (SBTi) today announced that is has validated Pandora’s target to become a net-zero business by 2040. This validation marks a significant milestone in Pandora’s sustainability journey. It affirms the company's ambition to decarbonize at the pace and scale required to align with the Paris Agreement’s goal of limiting global temperature rise to 1.5°C.
To reach net-zero, a company must cut emissions by at least 90% across its full value chain and use permanent carbon removal to balance out any residual emissions. The verification follows SBTi's validation in 2021 of Pandora's target to halve greenhouse gas emissions across its own operations and entire value chain by 2030.
"Climate change is a major source of global instability and there is an urgent need for action. By aligning our net-zero target with the SBTi, we confirm our commitment to reduce our carbon footprint significantly and help build a sustainable future. We encourage partners and peers to join us in making this reality,” said Mads Twomey-Madsen, Senior Vice President, Global Communications and Sustainability at Pandora.
“Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change,” said Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative. “Pandora’s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”
Pandora’s climate actions to 2030 and net-zero
By 2023, Pandora had achieved a 27% reduction of its full value chain emissions compared to the 2019 baseline. Among other, Pandora has achieved this by sourcing 100% renewable energy for its crafting facilities and shifting its precious metals supply to 100% recycled silver and gold.
To further drive down emissions, Pandora will continue working in close collaboration with suppliers, increase efficiencies and low carbon solutions within manufacturing and logistics, and pursue further circularity in materials. It is expected that emissions reductions towards 2030 will not be linear, as emissions will be affected by growth activities and improved access to data.
For more information on Pandora’s sustainability journey, explore the 2023 Sustainability Report.
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. They develop standards, tools and guidance which allow companies to set greenhouse gas emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The initiative is a collaboration between CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
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About Pandora
Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at accessible price points Pandora jewellery is sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 33,000 people worldwide and crafts its jewellery at three crafting facilities in Thailand using mainly recycled silver and gold. Pandora is committed to leadership in sustainability and is sourcing recycled silver and gold for all of its jewellery, just as the company has set out to halve greenhouse gas emissions across its value chain by 2030. The company is listed on the Nasdaq Copenhagen stock exchange and generated revenue of DKK 28.1 billion (EUR 3.8 billion) in 2023.
For more information, please contact:
| Johan Melchior VP, Media Relations & Public Affairs +45 4060 1415 jome@pandora.net | Lejla Charif Manager, Media Relations & Public Affairs +45 3165 6403 lecha@pandora.net |