Darling Ingredients Announces Scope 1 and 2 Emissions Reduction Target, Issues 2023 Sustainability Progress Report
Darling Ingredients Inc. (NYSE: DAR) today announced a target to reduce Scope 1 and 2 emissions 42% by 2030, which aligns with its commitment to the Science Based Targets initiative (SBTi). The goal is included in the company’s 2023 Sustainability Progress Report, published today. The report provides a detailed overview of the company’s progress against key environmental, social and governance objectives throughout 2023, highlighting how its Scope 1 and 2 target is an important step toward its aspiration of net zero by 2050.
“Sustainability is core to who we are and what we do, and I’m proud to announce our ambitious emissions reduction target in our latest Sustainability Report,” said Chairman and CEO Randall C. Stuewe. “Darling Ingredients plays an important role in circularity. We help entire industries be less wasteful and more sustainable by providing valuable ingredients that help lower our customers’ carbon footprint. 2023 was a year of setting up for continued success, and I’m excited for the future as we look to further strengthen our business in a sustainable way.”
Notable 2023 achievements include:
- An emissions target to reduce our Scope 1 and Scope 2 emissions 42% by 2030 against a 2023 baseline;
- Disclosure of Scope 3 emissions inventory from Forest, Land and Agriculture sources.
- Construction of a new Sustainable Aviation Fuel unit at our Diamond Green Diesel joint venture;
- Increased the number of women at the senior management level;
- Continued our partnership with FFA, donating more than $270,000 in 2023; and
- Proactively mapped biodiversity risks across our U.S. operations to better understand species richness and habitat availability across our locations.
The company plans to submit Scope 1, 2 and 3 targets to SBTi for validation by the end of 2024.
Cautionary Statements Regarding Forward-Looking Information
This media release includes “forward-looking” statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the statements. Statements that are not statements of historical facts are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “estimate,” “guidance,” “outlook,” “project,” “planned,” “contemplate,” “potential,” “possible,” “proposed,” “intend,” “believe,” “anticipate,” “expect,” “may,” “will,” “would,” “should,” “could,” and similar expressions are intended to identify forward-looking statements. All statements other than statements of historical facts included in this release are forward-looking statements. Forward-looking statements are based on the Company's current expectations and assumptions regarding its business, the economy and other future conditions. The Company cautions readers that any such forward-looking statements it makes are not guarantees of future performance and that actual results may differ materially from anticipated results or expectations expressed in its forward-looking statements as a result of a variety of factors, including many that are beyond the Company's control. The information, goals, and targets discussed in this media release, including our 2030 target, are based on currently available information, data, and reasonable estimates, have a high degree of uncertainty, and constitute forward-looking statements that may later be adjusted. Many of the risks and uncertainties associated with the information, goals, and targets in this media release are out of our control and others are not even known as of the date hereof. There are numerous uncertainties associated with the information, goals, and targets in this media release, some of which include the methodologies and standards for collecting, calculating, and estimating GHG emissions, reductions, and avoidance. These methodologies and standards are continuing to be developed and adapted, which may necessitate later revisions to the information, goals, and targets in this media release. There are also numerous risks associated with achieving the goals and targets in this media release, some of which include the potential for changes to government policies, including GHG related incentives and mandates; operational challenges associated with our GHG reduction work; challenges or delays with sustainability or climate targeted technology advancements or implementations; and new or unforeseen climate events, burdens, or impacts. Adjustments to the information, goals, and targets in this media release may also be required over time due to other factors, such as the Company’s performance, cash flows, or operational needs and objectives, or market factors. For a more detailed discussion of these factors and other risks and uncertainties regarding the Company, its business and the industries in which it operates, see the Company’s filings with the SEC, including the Risk Factors discussion in Item 1A of Part I of the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2023. The Company cautions readers that all forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update any forward-looking statements, whether as a result of changes in circumstances, new events or otherwise.