- VIENNA, Austria, Feb. 26, 2020 (Press Release) -
- 34% reduction in scope 1 and 2 emissions[i] per tonne of saleable production by 2025 and 72% by 2050
- 39% per MWh reduction in scope 2 Greenhouse gas (GHG) emissions by 2025 and 86% by 2050
Mondi, leading global packaging and paper manufacturer, announces its new science-based targets as part of its commitment to support the global transition to a low-carbon economy. The targets have been set in collaboration with WWF’s Climate Savers programme and are approved by the Science Based Targets initiative, a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
The first target pledges to reduce scope 1 and 2 greenhouse gas (GHG) emissions by 34% per tonne of saleable production by 2025 and 72% by 2050, from a 2014 base year. The second target commits to reducing scope 2 GHG emissions by 39% per MWh by 2025 and 86% by 2050, also from a 2014 base year. The setting of a science-based GHG reduction target is an important step in supporting the achievement of Sustainable Development Goal (SDG) 13 Climate Action.
Gunilla Saltin, Mondi Group Technical and Sustainability Director and CEO Uncoated Fine Paper, said: “The climate crisis is one of the greatest threats facing society and businesses must play a key role in mitigating its impact. Mondi has already made progress – by reducing our specific GHG emissions by 15.5% since 2014. In 2019, we decreased our mills’ absolute Scope 2 emissions by 21.7% through increased self-sufficiency and purchase of renewables compared to 2018. Yet, we recognise that much more needs to be done and Mondi’s new science-based targets are our next step in the move towards a low carbon economy.”
Manuel Pulgar-Vidal, leader of WWF’s Global Climate and Energy Practice said: “It is essential that science-based targets become embedded in standard business practice and businesses like Mondi are central to this transition. We welcome Mondi’s commitment to reducing its GHG emissions and to helping to build a more sustainable business world.”
Mondi has already made strategic energy-related investments across its pulp and paper mills and has invested more than €700 million in modernising energy plants and improving energy efficiency since 2013. It generates most of its energy in on-site energy plants and its pulp and paper mills are net electricity self-sufficient. Mondi is also increasing its use of biomass to reduce its production-specific GHG emissions to levels recommended by climate scientists to keep global warming in line with a 2ºC trajectory.
Mondi is a global leader in packaging and paper, delighting its customers and consumers with innovative and sustainable packaging and paper solutions. Mondi is fully integrated across the packaging and paper value chain - from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is embedded in everything Mondi does.
In 2018, Mondi had revenues of €7.48 billion and underlying EBITDA of €1.76 billion. Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker MND, and a premium listing on the London Stock Exchange for Mondi plc, under the ticker MNDI. Mondi is a FTSE 100 constituent, and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.