Carlsberg | Sustainability Performance
Producer of beers and other beverages, including cider and soft drinks
1847
Denmark
10,001+ employees
Food & Beverages
$10B+ in revenue
$1B - 10B in profitability
Sustainability Ranking & Industry Benchmark
#7481
Overall#136
in Denmark#232
in Food & BeveragesSustainability Maturity
Sustainability Intent
Overview
Environmental
Carbon emissionsCarbon certificatesEnergy consumptionWaste managementWater managementNature and biodiversityNature riskClimate riskSocial
Diversity and inclusionPay gapsHealth and safetyExternalitiesGovernance
TargetsSDG ImpactESG scores and exclusionsB-corp & CDPFinancial Data
Business performanceCapital & innovationAnalyst projections
CO2 scope 1 + 2
Aligned
Renewable energy
Laggard
Waste generated
Leading
Female engagement
Critical
Externalities
Critical
Market cap
Revenue
R&D intensity
Carbon emissions
Reveal data for 1 credit
Industry rank: 45 out of 333
Total CO2 emissions
(CO2e tonnes)
Industry rank: 45 out of 333
Scope 1
Scope 2 location based
Scope 3 downstream
Scope 3 upstream
Industry benchmark
(adj. for revenues)
(adj. for revenues)
Renewable energy
Reveal data for 1 credit
47%2025
Industry rank: 16 out of 333
Total energy consumption
and % renewables
(MWh, % of consumption)
Industry rank: 16 out of 333
Total energy
Share of renewable energy
Industry benchmark
Renewable electricity
Reveal data for 1 credit
88%2025
Industry rank: 14 out of 333
Total electricity consumption
and % renewables
(MWh, % of consumption)
Industry rank: 14 out of 333
Total electricity
Share of renewable electricity
Industry benchmark
Intensity
Greenhouse gas intensity Scope 1, 2 (tCO₂e /$M)
Greenhouse gas intensity (Scope 1, 2, 3)(tCO₂e /$M)
Energy consumption (direct) intensity (MWh /$M)
Water consumption intensity (m³ /$M)
Waste generation intensity (tonnes /$M)
Industry Benchmark
46.3
B/M 49.6
689.4
B/M 513.5
198.9
B/M 192.6
1.0K
B/M 825.0
2.1
B/M 3.8
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Female engagement
Reveal data for 1 credit
Share of female employees (%)
Share of female board members
25
50
75
100
Company
Benchmark
Waste
Reveal data for 1 credit
28.2K2024
Total waste generated (tonnes)
Total waste
Recovered & recycled
Not-recovered & not-recycled
Industry Benchmark
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Controversy level
- Carlsberg continued to operate its Baltika Russian subsidiary for more than a year after announcing in 2022 it would exit Russia, before Russian authorities placed the asset under state temporary management in 2023, prompting questions about preparation for sanctions and assetprotection diligence.
Carbon emissions breakdown
Reveal data for 2 credits
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Carbon certificate projects
Reveal data for 3 credits
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Energy consumption breakdown
Reveal data for 2 credits
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| 2020 | 2021 | 2022 | 2023 | 2024 | Benchmark | ||
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Climate risk
OverallAcuteChronic
Reveal data for 20 credits
Unlock Acute & Chronic49Moderate
$31.4Mestimated revenue at risk
Thematic risk scoresESRS aligned scoresComing soon
Download Climate Risk AnalysisPowered by illuminem and GIST impactNature risk
Reveal data for 10 credits
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Production loss
Reveal data for 5 credits
Share of company output at risk (%)
Direct operations
Upstream supply chain
Revenue at risk
Reveal data for 5 credits
Production-loss NVaR expressed in monetary terms ($)
Direct revenue at risk
Upstream revenue at risk
Assets exposed to sensitive locations
Reveal data for 5 credits
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Biodiversity loss in km²
Reveal data for 2 credits
Biodiversity loss in terms of the equivalent land affected (km²e)
Total biodiversity loss (km²e)
Industry benchmark
Biodiversity loss in CO2e
Reveal data for 2 credits
Total biodiversity loss as CO2e tonnes
Total biodiversity loss (CO2e tonnes)
Industry benchmark
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Potential species loss
Reveal data for 2 credits
Estimated nature species lost due to corporate activity, expressed as Potentially Disappeared Fraction (PDF)
One row per year, with the latest at the top. Each driver uses its own scale.
Low ImpactHigh Impact
Industry benchmark
Biodiversity impact
Reveal data for 2 credits
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PDF: Potentially Disappeared Fraction (of species) due to corporate activities
Waste management
Reveal data for 2 credits
| KPI | Metric | Year | |||||
|---|---|---|---|---|---|---|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | Benchmark | ||
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Water management
Reveal data for 2 credits
| KPI | Metric | Year | |||||
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| 2021 | 2022 | 2023 | 2024 | 2025 | Benchmark | ||
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Land use
Reveal data for 2 credits
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Diversity & inclusion
Reveal data for 3 credits
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Pay gap breakdown
Reveal data for 1 credit
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Health & safety
Reveal data for 2 credits
| KPI | Metric | Year | |||||
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| 2020 | 2021 | 2022 | 2023 | 2024 | Benchmark | ||
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Externalities
Reveal data for 1 credit
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| 2020 | 2021 | 2022 | 2023 | 2024 | Benchmark | ||
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Market cap
Revenue
EBITDA
Operating margin
Revenue & EBITDA
$13.5BFY2025 revenue
Total Annual
Revenue & EBITDA
($ B)
Annual revenue
EBITDA
3 year change
Margin trends
Margin as % of revenue
Gross margin
Operating margin
Net margin
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Free cashflow
Capex
Debt/equity ratio
R&D intensity
0.2%FY2025
R&D as % of revenue
R&D as % of revenue
Industry benchmark
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Return on invested capital
6.0%FY2026
Return on invested capital (ROIC)
Industry benchmark
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Analyst revenue estimates & actuals
Analyst consensus vs actuals
($ B)
Actual revenue
Consensus estimates
Estimate only
11.1
▲ 0.4%
11.3
▼ 0.3%
13.5
▼ 0.7%
111.5
2030Powered by illuminem
Environmental policy coverage
Carbon reduction policy
Available
Human rights policy
Available
Recycling policy
Not available
Workplace health & safety policy
Available
25%
Independent Directors
6 out of 24 incl. management
SBTi targets and commitments
| Target | Status | Temperature alignment | Year |
|---|---|---|---|
| Near-term target | Targets set | 1.5°C | 2032 |
| Long-term target | Targets set | 1.5°C | 2040 |
| Net-zero | Targets set | - | 2040 |
| Business Ambition 1.5°C | Member | - | 2019 |
Target details
Overall Net-Zero Target: Carlsberg Group commits to achieve net-zero greenhouse gas emissions across the value chain by 2040. Near-Term Targets: Energy and Industry: Carlsberg Group commits to reduce absolute scope 1 and 2 GHG emissions 90.0% by 2032 from a 2022 base year.* Carlsberg Group also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel- and energy-related activities, upstream transportation and distribution, waste generated in operations, downstream transportation and distribution, use of sold products and end-of-life treatment of sold products 30.0% within the same timeframe.* FLAG: Carlsberg Group commits to reduce absolute scope 3 FLAG GHG emissions 36.4% by 2032 from a 2022 base year.** Carlsberg Group commits to no deforestation across its primary deforestation-linked commodities, with a target date of December 31, 2025. Long-Term Targets: Energy and Industry: Carlsberg Group commits to maintain a minimum 90.0% absolute scope 1 and 2 GHG emissions reduction from 2032 through 2040 from a 2022 base year.* Carlsberg Group also commits to reduce absolute scope 3 GHG emissions 90.0% by 2040 from a 2022 base year.* FLAG: Carlsberg Group commits to reduce absolute scope 3 FLAG GHG emissions 72.0% by 2040 from a 2022 base year.** *The target boundary includes land-related emissions and removals from biogenic feedstocks. **The target includes FLAG emissions and removals.
Powered by illuminem and Science Based Targets initiative. Last updated: 19 Feb 2026Sustainability targets and commitments
| Target | Year | Value | Scope | Baseline |
|---|
Overall score
68
Environment
51
Social
84
Governance
70
Exclusion screening
Adult content
Not available
Alcoholic
Available
Animal testing
Not available
Firearms
Not available
Tobacco
Not available
Gambling
Not available
Nuclear
Not available
CDP Scores
Climate Score
A
Water Score
A-
A
A-
B
B-
C
C-
D
D-
SDG impact
Reveal data for 5 credits
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SDG impact (historical)
Reveal data for 5 credits
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