Haleon plc

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Haleon maintained 100% renewable electricity across operational sites in 2024 (325 GWh, all renewable). Total renewable energy (incl. heat) was 359 GWh or 50% of the 719 GWh total energy footprint, down slightly from 53% in 2023 as total consumption grew. The remaining ~50% reflects on-site fuel use and purchased heating/cooling not yet decarbonised.

Haleon retired 27 thousand tCO2e of carbon offsets in 2024 (up from 17 in 2023 and 9 in 2022) to bring net Scope 1+2 market-based emissions down to 48k tCO2e, achieving -50% vs 2020 baseline. The underlying 2030 goal is a 95% absolute reduction in Scope 1+2, with offsets covering the residual ~5%. Removals vs avoidance split is not disclosed.

• Sustainable packaging — virgin plastic reduction & recycle-ready design

  Targets 10% reduction in virgin petroleum plastic by 2025 and one-third by 2030 (vs 2022 baseline); 74% of packaging is recycle-ready as of 2024 (up from 65% in 2022), against a 2030 goal of 100% recyclable/reusable. 38k tonnes of plastic packaging consumed at owned sites in 2024.

• On-site fuel decarbonisation at manufacturing sites

  On-site fuel use is Haleon's largest Scope 1 source at 63k tCO2e in 2024 (up from 56k in 2022). With electricity already at 100% renewable, fuel switching for process heat is the primary lever to hit the 95% absolute Scope 1+2 reduction target by 2030.

• Use of sold products

  Use-of-sold-products emissions of 426k tCO2e in 2024 reflect downstream consumer-use energy of Haleon's products (toothbrushes, hot drink products). Excluded from the firm's Scope 3 reduction target (which covers source-to-sale), so this lever is not actively managed against a numeric goal.

• Purchased goods & services decarbonisation

  Purchased goods and services dominate Scope 3 at 1,498k tCO2e in 2024 (59% of total Scope 3 of 2,529k). Reductions are coming through supplier engagement on raw materials and packaging — total Scope 3 fell 7% vs 2022 baseline of 2,712k, with -10% reported against the 42% by 2030 target.

• Upstream transportation & distribution

  Upstream transport emissions fell from 495k tCO2e in 2022 to 382k tCO2e in 2024, a 23% reduction, reflecting freight network optimisation and modal shift in the logistics value chain.