Avery Dennison

Avery Dennison reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 402 Kt (-72 /-15.2% y-o-y). Also positively, carbon intensity declined to 58 t (-9.3 /-13.9% y-o-y).

Avery Dennison's Scope 3 emissions declined to 474 Kt (-30 /-5.9% y-o-y). The rate of decline has slowed compared to the trend since 4Q'15 (CAGR -9%).

The company is committed to achieving net zero for all Scopes by 2050, which translates into the estimated reduction of -31 Kt per annum over the period of FY2020 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Avery Dennison also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Avery Dennison commits to reduce absolute scope 1 and 2 GHG emissions 70% by 2030 from a 2015 base year. Avery Dennison also commits to reduce absolute scope 3 GHG emissions from purchased goods and services and end of life treatment of sold products 30% by 2030 from a 2018 base year.