SBTi validates Mondi’s science-based Net-Zero emissions targets.
Mondi is one of the first companies in the paper and packaging industries to have validated Net-Zero targets.
Short-term goals by the year 2030 include a 46.2% reduction in absolute greenhouse gas emissions from Scope 1 and 2 and a 27.5% reduction in absolute emissions from Scope 3.
Long-term goals by 2050 include a reduction of absolute greenhouse gas emissions by 90% across Scopes 1, 2, and 3.
It has been confirmed by Mondi, a leading global provider of packaging and paper solutions, that the Science Based Targets initiative (SBTi) has evaluated and approved its science-based Net-Zero targets.
According to the most recent findings in climate science1, the targets that cover greenhouse gas (GHG) emissions from Mondi’s operations and supply chain are consistent with a reduction that is required to keep global warming to 1.5oC, which is needed to prevent the most damaging effects of climate change.
Mondi is one of the first businesses in the packaging and paper sector to have its Net-Zero targets validated by the SBTi. The company made the announcement of its commitment to reduce greenhouse gas emissions to Net-Zero in January 2022.
Mondi has made a short-term commitment to reduce absolute emissions of greenhouse gases from Scope 1 and 2 by 46.2% and emissions from Scope 3 by 27.5% by the year 2030, starting with 2019 as the base year2. Our long-term goal is to cut absolute emissions of greenhouse gases from Scope 1, 2, and 3 by 90% by the year 2050.
Since 2015, Mondi has invested over 650 million euros in energy-related strategic investments across its pulp and paper mills. These investments were made in relation to energy. The majority of the energy we require is produced on-site in power plants, and our paper and pulp mills are largely independent in terms of their electricity requirements.
The special report from the IPCC on 1.5 degrees Celsius emphasises how important it is to achieve net-zero emissions by the year 2050. Setting a reduction target that is supported by scientific evidence is an important step toward achieving Sustainable Development Goal (SDG) 13 Climate Action.
This is also an important next step on our path toward decarbonization, and it will support transparency and accountability by requiring annual disclosures.
Our long-term commitment to taking action on climate change is highlighted by the fact that our science-based Net-Zero targets have been approved in accordance with the SBTi’s Net-Zero Standard.
Mondi has already made significant headway, as evidenced by the fact that we have succeeded in achieving a 46% reduction of our specific CO2e emissions to 2021 in comparison to our initial 2004 baseline.
We are pleased to be among the first in our industry to have approved Net-Zero targets, and we recognise that much more needs to be done quickly and urgently as we move toward a low-carbon, circular economy.
Nevertheless, we are pleased to be among the first in our industry to have done so.
CEO of the Mondi Group is Andrew King.