Danone

Packaged Foods & Meats

BN.PA

€ 55 1.4

Share price

$ 39 bn

Market Cap

$ 48 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.72x the weighted average for S&P 500

FY2021

Primary Climate Goal

Danone aims to reduce Scope 1 + 2 by 30% by 2030 from a base year 2015

2°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.9% weighted average for S&P 500

FY2022

Danone aims to achieve net zero for all Scopes by 2050

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Danone reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 978 Kt (-169 /-14.7% y-o-y). Also positively, carbon intensity decreased to 34 t (-7.6 /-18.3% y-o-y).

Danone's Scope 3 emissions declined to 23,733 Kt (-1,241 /-5% y-o-y). The decline accelerated compared to the CAGR of -2.8% since 4Q'19.

The company is committed to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -852 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	978	683	295	23,733	28,818	34
2020Q4	1,147	668	479	24,974	27,658	42
2019Q4	1,310	722	588	25,869	28,421	46
2018Q4	1,432	753	679	24,886	29,144	49
2017Q4	1,460	644	817	20,154	28,009	52
2016Q4	1,533	595	937	21,439	24,184	63