Energy Efficiency, GHG Emissions, Solar - December 23, 2024
Universal Lowers Emissions by 15%
Universal Corporation, a global business-to-business agriproducts company, announced it lowered absolute Scope 1 and 2 emissions by 15% from the company's 2020 baseline.
The company is on track to reach its reduction target set with the Science Based Target Initiative of 30% by 2030.
Universal also entered into a Virtual Power Purchase Agreement for renewable energy from a solar power project to offset 100% of electricity use in the U.S. by 2026.
Details were released in its 2024 Sustainability Report which details the progress that it has made on key sustainability priorities.
"When we define ‘success’ at Universal, we look at more than just our financial performance. We also place a great weight on our ability to enhance our global sustainability efforts and to report those efforts publicly and transparently," said Preston Wigner, Universal's Chairman, President and CEO, in a statement. "Simply put, sustainability is not just good business, it is the right thing to do. Our 2024 Sustainability Report reflects the value we place on sustainability and highlights the actions we have taken to be successful."
Universal's 2024 Sustainability Report discloses the company's sustainability performance from April 1, 2023 to March 31, 2024. It was prepared with reference to Global Reporting Initiative Standards and aligns with the United Nations Sustainable Development Goals.
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