Global packaging and paper leader Mondi has accelerated plans to take action on climate by committing to transition to Net-Zero by 2050. This next step builds on almost two decades of progress, including a 45% reduction in specific greenhouse gas (GHG) emissions against a 2004 baseline and science-based targets approved by the Science Based Targets initiative (SBTi) in 2019.
“The climate crisis is the most urgent risk facing society and businesses must take decisive action to mitigate their impact. Mondi has a long track record of investing in our operations to reduce our GHG emissions. The board’s approval of our new Net-Zero plan reinforces our commitment to contributing to a better world. Adopting science-based targets in line with 1.5°C is an important milestone in our journey to Net-Zero. However, taking action today is an absolute imperative and we already have a clear roadmap to achieve our 2025 milestones,” Andrew King, Mondi’s Group CEO.
Mondi’s Net-Zero plan, which was developed to align with SBTi’s new Net-Zero Standard, commits to reducing GHG emissions across Scopes 1, 2 and 3 in line with a 1.5°C scenario. Mondi submitted its Net-Zero commitment to the SBTi in December 2021 and has signed up to the UN Business Ambition for 1.5oC, the world’s largest and fastest-growing group of companies committed to taking urgent climate action aligned with 1.5°C.
Gladys Naylor, Mondi’s Group Head of Sustainable Development said, “The SBTi approved our current emissions reduction targets in 2019 and we have now increased our ambition in line with climate science and the SBTi’s new Net-Zero Standard. While we work with SBTi to validate our new targets, we’re taking action - doing the long-term planning to achieve our commitments and working every day to ensure that we are on track to meet our milestones in line with our MAP2030 sustainability framework.”
CDP recently recognized Mondi with a prestigious ‘Triple A’ score for its leadership on climate, water and forests for the second year in a row.