By Stephen Nakrosis

Estee Lauder Cos. on Monday said it achieved a goal of net zero emissions and sourced 100% renewable electricity globally for its direct operations, reaching a target set when it joined the RE100 campaign in 2017.

The cosmetics maker also said it was setting new climate targets. Estee Lauder said it was committed to reducing absolute scope 1 and 2 greenhouse gas emissions 50% by 2030 from a 2018 base year and to reducing scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, and business travel by 60% per unit revenue over the same timeframe.

Fabrizio Freda, president and chief executive of Estee Lauder said: "Today's announcement signals a new level of ambition and dedication to climate action for The Estee Lauder Companies," and added "Setting ambitious targets in line with the latest climate science is testament to our values and commitment to managing our business for the long term."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

11-02-20 1307ET