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PROCTER & GAMBLE COMPANY

(PG)
  Report
Delayed Nyse  -  04:03 2022-10-04 pm EDT
130.10 USD   +1.24%
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P&G Unveils New Strategy to Help Address Global Water Crisis

06/09/2022 | 09:10am EDT

Includes a first-of-its-kind goal to restore more water than is consumed during use of P&G products in two high water-stressed areas.

Procter & Gamble (NYSE:PG) today announced a major expansion of its environmental sustainability efforts that will make more water available in critically water-stressed areas around the world. This comprehensive effort includes a global portfolio of water restoration projects which will provide a range of solutions to protect ecosystems, replenish groundwater supplies, reduce the amount of water diverted from essential bodies of water, and improve water quality for the communities and wildlife that depend on them.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220603005310/en/

River of Progress to 2030. At P&G, ​we want to help build a water positive future that can sustain people and nature, now and for generations to come. Our River of Progress to 2030 shows how we are reducing water use in manufacturing, responding to water challenges through innovation and partnerships, and supporting projects to restore water for people and nature in 18 water-stressed areas around the world. We continue to make progress to achieve our 2030 goals by improving water efficiencies in our facilities and manufacturing plants; working with on-the-ground partners to improve, manage, and protect water resources; and tapping our experience in innovation and consumer understanding to unlock new solutions to water challenges. (Graphic: Procter & Gamble)

River of Progress to 2030. At P&G, ​we want to help build a water positive future that can sustain people and nature, now and for generations to come. Our River of Progress to 2030 shows how we are reducing water use in manufacturing, responding to water challenges through innovation and partnerships, and supporting projects to restore water for people and nature in 18 water-stressed areas around the world. We continue to make progress to achieve our 2030 goals by improving water efficiencies in our facilities and manufacturing plants; working with on-the-ground partners to improve, manage, and protect water resources; and tapping our experience in innovation and consumer understanding to unlock new solutions to water challenges. (Graphic: Procter & Gamble)

The significance of this effort, and P&G’s commitment, is highlighted by a first-of-its-kind goal to restore more water than is consumed when using P&G products in the critically water-stressed metropolitan areas of Los Angeles and Mexico City.

P&G’s strategy aims to help build a water positive future by reducing water use in manufacturing, responding to water challenges through innovation and partnerships, and supporting projects in 18 water-stressed areas around the world, including new projects announced today. These new goals and actions build on the Company’s existing Ambition 2030 sustainability efforts across climate, nature, waste, and water.

“Water is one of the world’s most critical natural resources, and something too many often take for granted. For years we have been focused on reducing water use in our operations and innovating to help consumers use less water in the home, but there is much more we can all do,” said Jon Moeller, P&G President and Chief Executive Officer. “Together with our partners, we are expanding our efforts that will improve, manage, and protect water resources in stressed areas that will help sustain people and nature for generations to come.”

Restoring Water for People and Nature, Our New 2030 Goals

Nearly one-third of people globally are experiencing water scarcity and that number is expected to double by 2025. We need water to make our products and consumers need water to use most of our products. Our new goals and projects focus on addressing the water that does not go back down the drain or to local systems from our operations and, for the first time in our industry, from consumer use of products. We worked closely with the World Resources Institute (WRI) Water Program to ensure these new water targets align with the best science and emerging target-setting practices.

P&G has added two new goals to its already comprehensive program:

Making of our products: Restore more water than is consumed1 at P&G manufacturing sites in 18 water-stressed areas around the world.

Use of our products: Restore more water than is consumed2 when using P&G products in the high water-stressed metropolitan areas of Los Angeles and Mexico City. These metropolitan areas account for over half of the total water consumed during the use of P&G products across 18 priority water-stressed areas.

We will achieve these goals through partnerships with leading environmental organizations and restoration projects that improve, manage, and protect water resources.

“P&G’s water target applies a rigorous analytical approach and complements the other aspects within their comprehensive water stewardship strategy. It adds a first-of-its-kind ambition to address water consumption and offers a roadmap for others to adopt targets in the face of our shared water problems,” said Colin Strong, Corporate Water Stewardship Lead, World Resources Institute (WRI) Aqueduct Program.

Learn more about our new goals HERE.

New Projects for Greater Impact

We are working with on-the-ground partners who have a deep knowledge of local challenges to support solutions that will result in meaningful benefits to water in each basin. Today, we’re announcing six new restoration projects throughout the Bear River basin in Utah and Idaho, in partnership with the Bonneville Environmental Foundation’s (BEF) Business for Water Stewardship program. These projects are in addition to the eight projects we began supporting in 2020 in California’s Sacramento River basin and the Colorado River Indian Tribes (CRIT) System Conservation Project in Arizona, which helps shore up declining water levels in Lake Mead. In total, these projects are expected to restore billions of liters of water for people and nature by 2030 and provide other important benefits to surrounding communities.

“P&G is innovating and setting a high bar for how a company can address shared water issues,” said Todd Reeve, BEF CEO and Business for Water Stewardship Co-Founder. “By deploying a comprehensive approach that tackles water challenges in the home and supports key local restoration projects in stressed watersheds, P&G is leveraging its unique capacity in new and high-impact ways that should establish the standard for corporate environmental water stewardship.”

In the coming years, we will work with new and existing partners on additional water restoration projects with long-term benefits in other priority water-stressed areas around the world.

Responding to Water Challenges Through Innovation and Partnerships

We know we can have a greater impact when we work together. Through longstanding partnerships, we have brought our experience in innovation and consumer understanding to unlock new solutions to water challenges. As part of our new comprehensive strategy, we are building on our existing efforts:

  • Providing Clean Drinking Water to People in Need. We aim to provide 25 billion liters of clean drinking water to children and families in need around the world by 2025 through our Children’s Safe Drinking Water (CSDW) Program.
  • Accelerating Water Innovation at Scale. We are leveraging our water chemistry expertise and water-efficient products to make everyday living more sustainable as founding members of the 50 Liter Home Coalition.
  • Enabling People to Reduce their Water Footprint. Together with our brands, we will continue to create and share products, tools, and information to help our consumers use less water at home, because we know that small actions at home can make a world of difference for our planet. We are focused on developing innovations that deliver irresistible superiority in a sustainable way, including:
    • Cascade is helping to reduce daily water use in households across the U.S. by encouraging people to skip pre-rinsing dishes and instead run the dishwasher every night. Contrary to popular belief, the dishwasher uses four gallons of water per cycle, while the sink can use that same amount in just two minutes. And with an innovative formula containing enzymes that latch on to and break down food particles, Cascade Platinum gives consumers a superior clean without the pre-wash3. By skipping the sink with Cascade and choosing the dishwasher, households can save up to 100 gallons of water per week4.
    • Pantene and Rejoice have developed No Rinse Conditioners that enable people to condition and nourish their hair without the need for water. Thanks to its light and fast absorbing formula, this new conditioning offering is applied outside of the shower on damp or dry hair, leaving hair more manageable and softer to the touch so it can be dried and styled as usual.
    • Fairy brilliant cleaning delivers excellent results, without pre-washing. By skipping the pre-wash by hand before using the dishwasher, households can save up to 12 liters of water per 2 minutes on average.

We’re continuing to make progress toward making our facilities and manufacturing plants more water efficient. All P&G sites located in water-stressed areas are dedicated to understanding their local watersheds, creating action plans, and addressing key challenges impacting our operations and the local communities where we operate.

“Creating a ripple effect toward a water positive future requires widespread solutions – from manufacturing and product innovations that improve consumers’ lives in a sustainable way, to restoring water for nature, wildlife, and communities,” said Virginie Helias, Chief Sustainability Officer. “While there will always be more to learn, P&G is dedicated to doing our part to care for our planet, our shared home.”

For more detailed information about P&G’s commitments and progress, please see Strategy Toward a Water Positive Future. To learn more about P&G’s ESG efforts, visit our ESG website or read our 2021 Citizenship Report.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit https://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at https://www.pg.com/news.

Forward-Looking Statements

Certain statements in this release, including statements relating to ESG targets, estimates, projections, goals, commitments, and expected results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believe” “project” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “goal," “target,” “objective,” and similar expressions. Forward-looking statements speak only as of the date they are made and are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause results and outcomes to differ materially from those expressed or implied in the forward-looking statements. For additional information concerning factors that could cause actual results and events to differ materially from those projected herein, please refer to our most recent 10-K, 10-Q and 8-K reports. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, except to the extent required by law.

1 Water that evaporates during the manufacturing of our products or is incorporated into the finished product manufactured at these sites.

2 Water from household leaks and evaporation during the use of our products.

3 50% more cleaning ingredients v. Cascade Complete ActionPacs™

4 With Energy Star certified dishwasher vs. washing dishes at a running sink for 11 minutes per day

Category: PG-IR


© Business Wire 2022
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Financials (USD)
Sales 2023 81 021 M - -
Net income 2023 14 789 M - -
Net Debt 2023 25 727 M - -
P/E ratio 2023 22,0x
Yield 2023 2,81%
Capitalization 310 B 310 B -
EV / Sales 2023 4,15x
EV / Sales 2024 3,99x
Nbr of Employees 106 000
Free-Float 59,6%
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Jon R. Moeller Chairman, President & Chief Executive Officer
Andre Schulten Chief Financial Officer
Vittorio Cretella Chief Information Officer
Victor Aguilar Chief Research, Development & Innovation Officer
Shailesh G. Jejurikar Chief Operating Officer
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