Energy Efficiency, GHG Emissions, Industrial - January 30, 2024
IFCO Receives SBTi Validation
IFCO, a provider of reusable packaging containers (RPCs), announced its emission targets for 2031 were validated by the Science Based Targets initiative (SBTi).
The company committed to setting carbon reduction targets in line with science through the SBTi in 2022 which independently assessed, verified, and approved IFCO near-term targets.
IFCO commits to the following targets for FY2031 with a FY2021 baseline:
- 46.2% absolute reduction in Scope 1 & 2 emissions; and
- 17% absolute reduction in Scope 3 emissions from purchased goods and services and upstream transportation and distribution.
Details were published in IFCO's ESG report.
The company secured 100% certified green electricity for all IFCO-operated service centers and attained carbon neutrality in its operations.
"Our decarbonization roadmap builds on the success of the IFCO SmartCycle. While our circular business model is inherently sustainable, we are committed to achieving even more,” said IFCO CEO Michael Pooley in a statement. “By 2040, we intend to fully decarbonize our supply chain and become a Net Zero business. The validation of our targets from SBTi is a key milestone in this journey and confirms our commitment to set ambitious climate targets that are aligned with science."
To lower Scope 1, 2, and 3 emissions and meet both near-term and long-term climate goals, the company has developed a comprehensive decarbonization roadmap. Its main focus areas include establishing carbon-neutral service centers, manufacturing low-carbon RPCs, and decarbonizing supply-chain transport.
IFCO plans to implement low-carbon technologies at IFCO service centers, including solar and solar thermal solutions, as well as heat pumps, fuel-efficient vehicles, increasing use of rail, exploring zero-emissions transport, and transitioning to green electricity in the RPC recycling and production processes.
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