Mondi’s net-zero targets validated by SBTi
Packaging and paper solutions provider Mondi says the Science Based Targets initiative (SBTi) has assessed and approved its science-based net-zero targets.
The targets covering greenhouse-gas (GHG) emissions from Mondi’s operations and supply chain (Scopes 1, 2 and 3) are consistent with a reduction required to keep global warming to 1.5 °C above preindustrial levels.
Mondi announced its commitment to net-zero GHG emissions in January and is among the first companies in the packaging and paper sector to have validated net-zero targets from the SBTi.
In the near-term, Mondi has committed to reduce absolute Scope 1 and 2 GHG emissions by 46.2% and Scope 3 GHG emissions by 27.5% by 2030 from a 2019 base year.
"Our long-term target is to reduce absolute Scope 1, 2 and 3 GHG emissions by 90% by 2050," the company says.
Mondi has already made strategic energy-related investments across its pulp and paper mills with more than €650-million invested since 2015.
"We generate most of our energy needs in energy plants on-site and our pulp and paper mills are largely electricity self-sufficient," it adds.
“The approval of our science-based net-zero targets, according to SBTi’s Net-Zero Standard, underlines our long-term commitment to taking action on climate. Mondi has already made significant progress, achieving a 46% reduction of our specific carbon dioxide equivalent emissions to 2021 against our initial 2004 baseline.
"We are pleased to be among the first in our sector to have approved net-zero targets and recognise that much more needs to be done swiftly and urgently as we move towards a low-carbon, circular economy,” Mondi CEO Andrew King comments.
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