DS Smith

DS Smith reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 March 2022 at 2,783 Kt (-28 /-1% y-o-y). Also positively, carbon intensity tumbled to 277 t (-102 /-26.9% y-o-y).

DS Smith's Scope 3 emissions plunged to 5,468 Kt (-94 /-1.7% y-o-y). This is a higher rate of decline than over the period since 1Q'20 (-1.2% CAGR).

The company is committed to achieving net zero for Scope 1 + 2 by 2050, which translates into the estimated reduction of -99 Kt per annum over the period of FY2023 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to reducing all Scopes by 46% by 2031 from a base year 2020, which translates into the estimated reduction of -398 Kt per annum over the period of FY2023 - FY2031. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

DS Smith also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. DS Smith commits to reduce absolute scope 1, 2* and 3 GHG emissions 46.2% by FY2030 from a FY 2019 base year. DS Smith commits that 76% of its suppliers by emissions covering purchased goods and services will have science-based targets by FY2027. *The target boundary includes land-related emissions and removals from bioenergy feedstocks.