Croda International 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.

SBT commitment includes maximising use of renewable energy in operations. Chocques site sources >85% of steam demand from energy-from-waste incinerator (no GHG emissions from recovered energy), with new incinerator planned for 2027 to further improve efficiency. Limited specific PPA or RE100 disclosure.

Net Zero pathway diagram shows permanent carbon removal as the final lever to neutralise residual emissions by 2050, in line with SBTi Net Zero definition (residual ≤10% of baseline, neutralised by permanent removals). No current removals deployed; removals positioned as future endpoint after all reduction levers.

• Decarbonising manufacturing heat via energy-from-waste and on-site investment

  Maintaining 1.5°C trajectory by designing decarbonisation into capital investment decisions and reassessing energy procurement. Chocques (France) site uses recovered steam from a local waste incinerator (over 85% of steam demand) and signed an MOU for a new, more efficient incinerator due 2027. All Croda locations have a decarbonisation roadmap (target met 2022).

• Internal carbon price built into capital allocation

  Internal carbon price helps build business cases for decarbonisation investments. Disconnecting GHG emissions from value growth. Scope 1 and 2 emissions reduced by 28% since 2018 baseline (target -46.2% by 2029).

• Net Zero product portfolio roadmaps

  In 2024 committed to building Net Zero roadmaps for key product groups accounting for almost half of total Scope 1, 2 and upstream Scope 3 footprint. Cross-functional teams exploring portfolio transformation. Levers include energy investments, value chain engagement, sustainable bio-based sourcing, product technology innovation, efficiency savings and (by 2050) permanent carbon removals.

• Bio-based and sustainable raw material sourcing

  More than half of carbon-containing raw materials come from bio-based sources (56% in 2024, target >75% by 2030). Target shifting beyond primary crop feedstocks to recycled and waste materials. 88.2% palm derivatives RSPO Mass Balance certified; complying with EU Deforestation Regulations. Founder member of Action for Sustainable Derivatives (ASD).

• Product-level carbon footprint data for customer Scope 3

  Product Carbon Footprint (PCF) statements now available for >2,000 products including ~1,500 Beauty and 600 Home Care ingredients. Supports customers in calculating their Scope 3 upstream and enables carbon-informed procurement decisions. Internal Product Information Management system rolling out globally in 2025.

• Supplier engagement via EcoVadis, SBTi alignment and SiGREEN platform

  90.5% of key suppliers have EcoVadis scores above minimum 45/100. 66% of raw material volume covered by public carbon reduction commitments, 45% by suppliers with verified SBT or following SBT guidelines (up from 16% in 2023). Launched SiGREEN platform via Together for Sustainability (TfS) to automate supplier carbon data collection. Supplier-specific carbon data obtained for 23% of materials.