Products of Change

DRIVING SUSTAINABLE
CHANGE TOGETHER

Tue 17 Jan 2023 | by Rob Hutchins

Hasbro to implement Climate Action Plan in 2023 to drive down carbon footprint

The global entertainment powerhouse and toy maker, Hasbro has earmarked 2023 the year it puts its newly created Climate Action Plan into effect, spanning design, supply chain, and facilities initiatives to drive its carbon use down. The Climate Action Plan framework was introduced last year as a comprehensive, two-part climate strategy to reduce its carbon footprint and build climate resilience. Part One of the plan focuses on reducing its greenhouse gas emissions, anchored by a net zero GHG commitment the company signed with the Science based Targets initiative in January last year. As a first step, Hasbro undertook a process to establish its baseline emissions for its direct (scope 1) and Hasbro-controlled indirect (scope 2) emissions, as well as its upstream and downstream (scope 3) emissions. To do so, Hasbro invested in a rigorous carbon data collection platform as well as hired new team members to build its capabilities in this area. Based on its SBTi commitments, Hasbro is now setting a target of approximately 40% reduction in GHG by 2030 against its 2020 baseline, and approximately 90% reduction in GHG, combined with the use of carbon removal credits for a residual 1%, to reach its net zero goal by 2050. “As we embark on the next chapter of our environmental sustainability journey, we are excited to learn, grow ,and repeat,” said Hasbro in its latest ESG progress report titles Playing with Purpose. “On a rolling basis, we will share details of our SBTi roadmap. We believe our current environmental initiatives will help support achievement of our overarching goals.” In its newly released report, Hasbro establishes that its supply chain contributes to the majority of tis carbon footprint. It’s for this reason that its supply chain has become a core focus for the team. Its 2023 supplier sustainability plan focuses on four key areas, including improved factory efficiency and operations and maintenance programmes, technical upgrades to factory equipment, installation of onsite solar energy, and procurement of offsite renewable energy. “We believe we have a responsibility to leverage the power of our iconic brands to leave the world a better place than we found it,” said Chris Cocks, ceo at Hasbro. “As we fulfil our mission to entertain and connect generations of fans through the wonder of storytelling and the exhilaration of play, we are taking purposeful steps to make progress against key ESG issues relevant to our business and our stakeholders.” Kathrin Belliveau, EVP and chief purpose officer at Hasbro, said: “At Hasbro, we’re committed toi operating our business responsibly and sustainably and are grateful to our passionate team members who make our ESG progress possible. “Together, we’re not only entertaining and connecting fans, we’re on a journey to bring joy and build community around the world. I’m energized by how we’ll expand and advance our impact as we look to deliver on our bold agenda in the years to come.” Hasbro’s latest ESG Progress Report can be read in full here.