Fonterra's Voluntary Climate-related Disclosure 2023

In November 2023, Fonterra published a voluntary set of Climate-related Disclosures (CRD) as part of our preparations to disclose our first mandatory Climate-related Disclosure required by law in New Zealand from FY24.

We acknowledge the importance of identifying, managing, and disclosing material climate-related risks and opportunities in a consistent and comparable way. The CRD reflects Fonterra’s best estimate and current understanding of future climate-related events, risks, opportunities, impacts, and strategies as at 9 November 2023.

The CRD has been prepared to align as far as possible with the content that will be required from FY24 with Aotearoa New Zealand Climate Standards, while acknowledging some of the reporting criteria are not yet met.

We want dairy farming to continue for generations to come.

This is why we have made a strategic choice ‘to be a leader in sustainability’. This is essential in order to build resilience into the Co-op for future generations.

We are aligned to the objective of keeping warming below 1.5°C. We have committed to set 2030 emissions reduction targets in line with the Science-based Targets initiative (SBTi) to help us toward our Net Zero 2050 ambition. We have taken some big steps on our climate journey already.