Finlays reports strong progress on sustainability goals in 2024
Image credit: Finlays
Finlays, a leading supplier of tea, coffee and botanical ingredients to the global beverage industry, has published its 2024 Sustainability Report, highlighting significant progress across the three key areas of its Sustainable Future 2030 strategy.
The report highlights Finlays’ commitment to long-term sustainability in the face of growing challenges for the beverages industry such as climate change, supply chain complexity, and human rights risks.
In a foreword to the report, Finlays’ group managing director, James Woodrow, reaffirmed Finlays’ pledge to “take action today for the beverages of tomorrow,” emphasizing the importance of industry-wide collaboration and long-term thinking. “We are proud of the strides we’ve made, but we know there is more to do,” said Woodrow. “Our refreshed core values will guide us as we continue to act for the long-term, take accountability, do better each time, and succeed together.”
Key achievements in 2024 include:
• Near and long-term carbon reduction targets approved by the Science Based Targets initiative (SBTi), making Finlays one of just 30 companies in the food and beverages processing sector to have an SBTi-approved net-zero target;
• Developing a deforestation-free approach in accordance with EUDR requirements;
• Joining the UN Global Compact, aligning Finlays with global best practices in sustainability and human rights;
• 100% of Finlays made tea and 99% of green bean coffee now being traceable to the factory or mill, with all green leaf tea traceable to the farmer;
• Reducing Scope 2 emissions by 47% and increasing use of renewable electricity by 63% compared to 2023;
• Ensuring 95% of waste is recycled, recovered, or reused.
Commenting on the progress made in 2024, Joe Yalley-Ogunro, head of sustainability at Finlays, said, “We’ve made meaningful progress across all three pillars of our strategy – Climate Net Zero, Sustainable Supply, and Our People. Looking ahead, we’re focused on deepening supplier engagement, enhancing human rights due diligence, and finalizing our approach to water stewardship.”
Finlays 2024 Sustainability Report is available here.
