Foreword from the Chairman and CEO

Measurable momentum in a context of change

Our commitment to contributing to a more sustainable tomorrow drives us to make measurable progress in a rapidly changing world. This means facing and overcoming the challenges of a highly dynamic environment while remaining focused on our declared ambitions and targets.

Change on multiple levels, and in different areas, impacted our sustainability activities during the reporting year. The regulatory landscape continued to evolve at a rapid pace. This encompassed the enforcement of heightened human rights regulations globally, as well as specific legislation on topics such as packaging and environmental claims made to consumers. Regulation aimed at combating adverse effects of climate change and protecting biodiversity also greatly affected the cocoa sector. For example, 2024 was an important transition year as we started the preparation for the European Union Regulation on Deforestation-free Products (EUDR). These legislative changes were embedded in a context of high cocoa prices, other substantial cost increases, and weakened consumer sentiment globally. Diseases affecting cocoa trees continue to lead to significant crop failures, thereby keeping cocoa prices at a very high level. Given the many challenges, we are especially proud of the measurable accomplishments of all our teams.

Sustainability is a core component of our business strategy. Reflecting the importance we attach to this, the Group’s top management – including the Board of Directors and Group Management – deals with matters related to sustainability, and has already been reviewing future priorities related to our sustainability strategy. Since most of our targets come to completion at the end of 2025, we are currently evaluating how to further develop and strengthen our approach, with the objective of defining a clear path for the years beyond 2025.

In the reporting year, we were once again honored to receive the EcoVadis Silver Medal for sustainability performance.¹ This placed us in the top 15% of companies evaluated by EcoVadis. In the “Manufacture of other food products” category, our 2024 achievements secured us a ranking in the top 1% for sustainable procurement, and in the top 7% overall. This underscores our ongoing dedication to responsible sourcing practices.

In 2024 we made significant progress across the Group in developing our Roadmap to net-zero. This aims to guide us to our goal of net-zero greenhouse gas emissions by 2050 verified by the Science Based Targets initiative (SBTi). Lindt & Sprüngli subsidiaries submitted their local decarbonization plans to the Group. Departments governed at Group level also presented decarbonization plans for their areas of responsibility. The key focus areas remain cocoa, dairy, packaging, transportation, and energy. Finally, we integrated the plans into the financial budgeting for 2025. In addition, we completed a Climate Risk Assessment.

Building on our recognized responsible sourcing endeavors to date, we are particularly proud to have met our 2025 target one year ahead of schedule and continued to advance our efforts to reduce associated negative social and environmental impacts. We have defined responsible sourcing requirements for 12 priority materials, four of which in 2024. By the end of the year, we had succeeded in sourcing 82.2% of our volumes of raw and packaging materials carrying significant sustainability risks through a responsible sourcing program.

For cocoa, the responsible sourcing figure was above 84%. This puts us in a strong position to meet our goal of sourcing 100% of our cocoa including beans, butter, and powder through the Lindt & Sprüngli Farming Program or other responsible sourcing programs, by the end of 2025. Supporting this, we have continued to invest in the responsible sourcing of cocoa, with investments amounting to CHF 33.6 million in 2024. This demonstrates our commitment to the Farming Program objectives of improving the resilience of farming households, reducing the risk of child labor, and encouraging more sustainable farming practices.

Another 2024 milestone, which we are very proud of reaching, was all our factories obtaining Rainforest Alliance Certification. This represents a key move in our drive to transition all our cocoa volumes to this certification as a base requirement, reinforcing our commitment to consistently high standards across our operations.

For packaging 91.4% of the materials used in 2024 were designed to be recyclable. This aligns with our overarching goal to reduce environmental impact and our vision to support a circular economy.

The collaboration and hard work of all our employees and partners around the world is vital to our progress in making a positive contribution to the future of our sector. Group Management approved a new people strategy in 2024. This will be rolled out in 2025 and will reflect our determination to nurture a non-discriminatory and motivating work environment.

Over the coming year, our teams will continue refining our strategic direction and define new targets that go beyond 2025. In doing so, we are addressing both the topics we impact and those impacting us. Supported by dedicated employees and collaborative teams, we are prepared to navigate challenges and seize opportunities in this dynamic sector, continuously learning and taking steps towards a more sustainable future.

Ernst Tanner
Executive Chairman of the Board of Directors
of the Lindt & Sprüngli Group

Adalbert Lechner
CEO of the Lindt & Sprüngli Group

¹For more information on EcoVadis, see Responsible sourcing chapter.