Ecolab

Specialty Chemicals

ECL

$ 163 2.6

Share price

$ 47 bn

Market Cap

$ 57 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.21x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -5.1% weighted average for S&P 500

FY2021

Ecolab aims to reduce Scope 1 + 2 by 50% by 2030 from a base year 2018

1.5°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

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

FY2021

Ecolab 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

Ecolab reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 340 Kt (-143 /-29.6% y-o-y). Also positively, carbon intensity decreased sharply to 29 t (-9.6 /-25% y-o-y).

Ecolab's Scope 3 emissions declined to 6,906 Kt (-923 /-11.8% y-o-y). The decline accelerated compared to the CAGR of -6.1% since 4Q'18.

The company is committed to reducing Scope 1 + 2 by 50% by 2030 from a base year 2018, which translates into the estimated reduction of -9.5 Kt per annum over the period of FY2021 - FY2030. This science-based target is aligned with Paris Agreement to limit global warming to 1.5°C above pre-industrial levels.

Also, the company commits to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -242 Kt per annum over the period of FY2021 - 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)
2020Q4	340	283	57	6,906	11,790	29
2019Q4	483	325	158	7,829	12,562	38
2018Q4	489	320	169	8,341	14,668	33
2017Q4	668	399	269	6,263	13,836	48
2016Q4	666	394	272	4,443	13,153	51
2015Q4	687	397	290	6,920	13,545	51