PRESS RELEASE
Amsterdam, 28 March 2024
Commitment to target further reductions in Greenhouse Gas (GHG) emissions and
specific Forest, Land, and Agriculture (FLAG) emissions
JDE Peet's (EURONEXT: JDEP) today has committed to newly validated Science Based
Targets initiative (SBTi) targets as part of its Common Grounds sustainability
programme (https://www.jdepeets.com/sustainability/). In line with the SBTi-
validated targets and new Forest Land and Agriculture Science-Based Target-
Setting Guidance (FLAG), JDE Peet's is committed to the following targets:

  * A 43.3% reduction in absolute scope 1 & 2 GHG emissions by 2030, from a
    2020 base year;
  * A 25% reduction in absolute scope 3 GHG emissions by 2030, from a 2020 base
    year (industrial non-FLAG);
  * A 30.3% reduction in absolute Forest, Land, and Agriculture (FLAG) GHG
    emissions by 2030, from a 2020 base year; and

* No deforestation across JDE Peet's primary deforestation-linked commodities,

    coffee, pulp & paper, palm oil and cocoa with a target date of 31 December
    2025, as described in JDE Peet's' Forest Policy
    (https://www.jdepeets.com/siteassets/policies/jde-peets-forest-policy.pdf).

All these targets are consistent with SBTi's 1.5C mitigation pathway to achieve
net-zero by 2050. The Forest, Land and Agriculture Science-Based Target-Setting
Guidance (FLAG) is the world's first framework for companies in land-intensive
sectors to set science-based targets that include land-based emissions
reductions and removals.
These new targets increase JDE Peet's' previous SBTi-approved commitments that
were in line with a well below 2C pathway. The new net-zero compliant targets
are currently the most ambitious designation available through the SBTi process.
Since 2023, JDE Peet's delivered a 21% reduction in its scope 1 & 2 GHG
emissions and a 9% reduction in its scope 3 GHG emissions. As the result of a
periodical review of its progress under its Common Grounds sustainability
programme, JDE Peet's is now able to commit to more extensive targets.
A key element of JDE Peet's' Common Grounds sustainability programme are the
impactful coffee farmer programmes
(https://www.jdepeets.com/sustainability/responsible-sourcing/) which help build
resilience and reduce the environmental footprint of coffee farming. For
example, the regenerative agricultural practices programme contributes to an
increase in yields and optimised agrochemical usage, thus increasing income,
improving livelihoods, and preventing deforestation.
Laurent Sagarra, Vice-President Sustainability at JDE Peet's commented: "We
believe that coffee, globally, can be grown in a net-zero way by 2050 if we work
together - across the industry and with coffee farmers. We are pleased to have
made considerable progress in our reductions in our scope 1, 2 and 3 GHG
emissions in 2023, and are proud to announce new targets in line with SBTi FLAG
guidance to continue to drive reductions. Through our inclusive farmer-first
approach, we can address environmental challenges while helping to maintain
coffee farmers' livelihoods."
To learn more about JDE Peet's' sustainability journey, including our climate
transition plan, please visit the company's website
(https://www.jdepeets.com/sustainability/). Further information can also be
found in the Annual Report (https://www.jdepeets.com/investors/financial-
reports/annual-reports/).
# # #
Enquiries
Media
Will Hummel
+31 6 3917 7280
Media@JDEPeets.com (mailto:Media@JDEPeets.com)
Investors & Analysts
Robin Jansen
+31 6 1594 4569
IR@JDEPeets.com (mailto:IR@JDEPeets.com)
About JDE Peet's
JDE Peet's is the world's leading pure-play coffee and tea company, serving
approximately 4,100 cups of coffee or tea per second. JDE Peet's unleashes the
possibilities of coffee and tea in more than 100 markets, with a portfolio of
over 50 brands including L'OR, Peet's, Jacobs, Senseo, Tassimo, Douwe Egberts,
OldTown, Super, Pickwick and Moccona. In 2023, JDE Peet's generated total sales
of EUR 8.2 billion and employed a global workforce of more than 21,000
employees. Read more about our journey towards a coffee and tea for every cup at
www.jdepeets.com.
Â