Groupe SEB Announces Its New 2024-2030 ESG Ambition to Contribute to a More Sustainable Future

Dec 12 2024 06:00 GMT

ECULLY, France--(BUSINESS WIRE)--Dec. 12, 2024-- Regulatory News:

Groupe SEB (Paris:SK), the world leader in small domestic equipment and professional coffee machines, is unveiling today its new ESG roadmap for 2024-2030 as part of its ESG Investor Day. This ambitious program, fully aligned with the Group’s growth strategy, aims at continuing and accelerating its strong commitment to sustainable development.

A COMMITMENT ROOTED IN THE GROUP’S DNA

Groupe SEB establishes itself as a committed player in the transition to a more sustainable future. This approach has consistently driven its pioneering initiatives within the sector, notably in terms of product repairability and durability.

Its new roadmap is structured around 4 pillars, deeply rooted in the Group’s core values, and focusing on social, societal and environmental challenges :

Act for nature;
Act as a leader in circular economy;
Act for all;
Act responsibly and ethically.

Through these new initiatives and in line with its longstanding commitment, the Group strives to reduce its environmental footprint as well as to strengthen its social and societal impact by taking action across its value chain.

AMBITIOUS 2030 TARGETS, WITH A BRAND NEW NET-ZERO PATHWAY VALIDATED BY SBTi

Act for nature

The Group will further endeavor to lower its environmental impact. Key targets by 2030 include cutting greenhouse gas (GHG) emissions by 42% for Scopes 1 & 2, and a 25% reduction for Scope 3¹ (compared to the 2021 baseline).

Its new net-zero pathway to 2050, validated today by the Science-Based Targets initiative (SBTi), is aligned with the goal of limiting global warming to 1.5°C.

The Group is also pursuing its efforts to reduce water consumption, targeting a 25% decrease across all its sites by 2030².

Act as a leader in circular economy

Groupe SEB has always been committed to the eco-design of its products. To date, over 90% of its small domestic appliances are repairable for 15 years at a fair price.

The Group aims to intensify the development of solutions and the adoption of circular practices at every stage of its products' lifecycle. This includes eco-design for its products to reduce their environmental footprint, an increased use of recycled - or low-impact - and recyclable materials, and the deployment of its own business model for product refurbishment.

By 2030, the Group has set the following targets (i) incorporate at least 60% of recycled materials in its products and packaging, (ii) ensure its products are at least 85% recyclable, and (iii) achieve 3% to 5% of its small household appliance sales in targeted European countries through refurbished products.

Act for all

The Group is strengthening its commitment to diversity, inclusion and employee well-being in the workplace while actively engaging with stakeholders across its value chain. This includes primarily the reduction of LTIR (Lost Time Injury Rate) below 0.5, and increasing gender balance in leadership and management positions.

By 2030, the Group will continue its responsible sourcing policy, supporting its suppliers in adopting increasingly stringent environmental and social practices. This includes the implementation of a decarbonation plan for nearly 500 strategic suppliers and a broader deployment of its responsible purchasing charter.

To further enhance its impact on consumers, the Group will continue to encourage and facilitate the adoption of healthy and sustainable eating habits, as well as environmentally responsible practices. Thus leveraging its continuous innovation to provide solutions and products that adapt to evolving global needs.

The Group will also continue its corporate philanthropy initiatives, particularly in the areas of fighting exclusion, and ensuring access to education and food.

TAKING CONCRETE ACTION FOR MEASURABLE RESULTS

Through this new roadmap, supported by a detailed and quantified plan, Groupe SEB reaffirms its commitment as a leading and responsible player. Since 2019, the Groupe has tied its compensation policy to the achievement of short-term ESG objectives, and since 2024 long-term criteria aligned with its new commitments have also been included .

Convinced that everyone’s collaboration is essential to addressing environmental, social and societal challenges, the Group will mobilize its employees, partners, suppliers, customers and investors around this ambition.

ESG Investor Day on December 12 at 2:00 p.m., CET

Click here to access the webcast live (English only)

Replay available on our website

on December 12 at 5:00 p.m., CET at www.groupeseb.com

Key dates – 2025
23 January \| after market closes	Provisional sales 2024
27 February \| pre-market	2024 Results
24 April \| after market closes	Q1 2025 sales and financial data
20 May \| 2:30 p.m.	Annual General Meeting
23 July \| after market closes	First-half 2025 sales and results
23 October \| after market closes	2025 Nine-month sales and financial data

World reference in Small Domestic Equipment and professional coffee machines, Groupe SEB operates with a unique portfolio of 40 top brands (including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor), marketed through multi-format retailing. Selling more than 400 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and client service. Present in over 150 countries, Groupe SEB generated sales of €8 billion in 2023 and has more than 31,000 employees worldwide.

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1} Scope 3 targets center on GHG emissions from purchased goods and services, upstream transport and distribution in addition to use of sold products.
² Baseline year: 2021