Musim Mas Commits to Setting Science-Based Targets for GHG Reductions
22 January 2024, Singapore – Musim Mas (or the “Group”) commits to achieve net-zero emissions by 2050, aligning with climate science as per the Science Based Targets Initiative (SBTi). The commitment resonates with the ambitious target outlined in the global goal set by the Paris Agreement, aiming to limit global warming to 1.5°C.
As one of the leading sustainable palm oil players, Musim Mas has long prioritized minimizing and mitigating environmental impacts throughout our supply chain. Since launching its No Deforestation, No Peat, and No Exploitation (NDPE) Policy in 2015, the Group has actively worked to reduce deforestation and carbon emissions across operations and the supply chain. While we are close to achieving a 55% reduction in upstream operations’ greenhouse gas (GHG) emissions by 2025, we recognize the imperative to push further.
In addition to individual company efforts, there is a need for collective action. Recognizing this, Musim Mas and 13 other leading agribusiness companies set out to develop a shared roadmap in November 2022 for reducing emissions from land-use change: Agriculture Sector Roadmap to 1.5°C. The action follows our COP26 commitments, hinges on existing No Deforestation, No Peat, and No Exploitation (NDPE) commitments, and accelerates the sector’s deforestation actions to align with global climate goals in a way that contributes to food security, economic development, and smallholder livelihoods.
Since 2017, we have disclosed our sustainability practices and impacts annually, including corporate Scope 1 and 2 emissions through the CDP (formally known as the Carbon Disclosure Project). Moving forward, we are expanding and reinforcing our GHG calculations and inventory in accordance with the GHG Protocol guidance to include Scope 3 emissions across our global operations to establish group-level emissions reduction targets in line with the SBTi.
Our commitment has been endorsed by SBTi and is displayed on the SBTi website since 12 January 2024. This is a major milestone in our long journey to achieving net-zero. Our near and long-term emission reduction targets are in the validation phase.
“As Musim Mas announces its commitment to the Science Based Targets initiative (SBTi), we recognize the role of the palm oil industry in driving global efforts towards net-zero emissions. The urgency of our climate crisis demands swift and resolute action. Musim Mas will undertake rigorous measures to align with SBTi standards, reduce our carbon footprint, and contribute significantly to the global imperative of achieving a sustainable and net-zero future.” – Olivier Tichit, Director of Sustainability, Musim Mas.
Established in 2015, SBTi defines and promotes best practices in emissions reductions and net-zero targets in accordance with climate science. SBTi brings together a team of experts to provide independent assessment and validation of targets in line with climate science, ensuring climate action robustness, credibility, and accountability.