Orkla

Packaged Foods & Meats

ORK.OL

NOK 77 0.47

Share price

$ 7.2 bn

Market Cap

$ 9.2 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.58x the weighted average for S&P 500

FY2022

Primary Climate Goal

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

Weaker than the -9.3% weighted average for S&P 500

FY2023

Orkla aims to reduce Scope 1 + 2 by 70% by 2030 from a base year 2016

1.5°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Stronger than the -1.4% weighted average for S&P 500

FY2023

Orkla aims to achieve net zero for all Scopes by 2045

1.5°C

GHG emissions and Carbon intensity

Orkla reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2022 at 179 Kt (+52/+41% y-o-y). Carbon intensity also grew to 29 t (+7.8/+36% y-o-y).

Orkla's Scope 3 emissions grew to 2,020 Kt (+203/+11% y-o-y). The growth accelerated relative to the long-term trend (+7.1% CAGR) observed since 4Q'17.

The company is committed to reducing Scope 1 + 2 by 70% by 2030 from a base year 2016, which translates into the estimated reduction of -12 Kt per annum over the period of FY2023 - 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 2045, which translates into the estimated reduction of -96 Kt per annum over the period of FY2023 - FY2045. This science-based target is aligned with Paris Agreement to limit global warming to 1.5°C above pre-industrial levels.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2022Q4	179	109	70	2,020	6,063	29
2021Q4	126	116	10	1,817	5,853	22
2020Q4	138	116	22	1,891	5,150	27
2019Q4	136	123	13	1,861	5,028	27
2018Q4	135	121	14	1,577	5,002	27
2017Q4	148	130	18	1,340	4,742	31
2016Q4	264	122	167	2,010	4,488	59
2014Q4	287	135	153	1,900