Mondi plc
(Incorporated in England and
Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code:
MNDI ISIN:
GB00B1CRLC47
JSE share code: MNP
16 December 2022
Mondi’s science-based Net-Zero targets
for greenhouse gas emissions reduction validated by SBTi
- Mondi among the first packaging and paper companies with
validated Net-Zero targets
- Near-term targets by 2030: 46.2% reduction of absolute Scope 1
and 2 GHG emissions and 27.5% reduction of Scope 3 GHG
emissions
- Long-term targets by 2050: 90% reduction of absolute Scope 1, 2
and 3 GHG emissions
Mondi, a leading global packaging and paper solutions provider,
confirms that 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 1.5oC,
needed to prevent the most damaging effects of climate change
according to the latest climate science[1]. Mondi announced its
commitment to Net-Zero GHG emissions reduction in January 2022 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[2]. Our long-term target is to reduce
absolute Scope 1, 2 and 3 GHG emissions by 90% by 2050.
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.
The IPCC special report on 1.5°C highlights the necessity to
reach net-zero emissions by 2050. The setting of a science-based
reduction target is an important step in supporting achievement of
Sustainable Development Goal (SDG) 13 Climate Action and is an
important next step on our decarbonisation trajectory, while
supporting transparency and accountability through annual
disclosures.
Andrew King, Mondi Group CEO,
said: “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
CO2e 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.”
Enquiries
Susan Brunner
Senior Sustainability Positioning Manager
susan.brunner@mondigroup.com
Greg Salmon
Senior Investor Relations Manager
gregory.salmon@mondigroup.com
Chris Gurney
Senior Corporate Communication Manager
chris.gurney@mondigroup.com
About Mondi
Mondi is a global leader in packaging and paper, contributing to
a better world by making innovative solutions that are sustainable
by design. Our business is integrated across the value chain – from
managing forests and producing pulp, paper and films, to developing
and manufacturing sustainable consumer and industrial packaging
solutions using paper where possible, plastic when useful.
Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created
by empowered people, taking action on climate.
In 2021, Mondi had revenues of €7.0 billion and underlying
EBITDA of €1.2 billion from continuing operations, and employed
21,000 people worldwide. Mondi has a premium listing on the London
Stock Exchange (MNDI), where the Group is a FTSE100 constituent,
and also has a secondary listing on the JSE Limited (MNP).
mondigroup.com
Sponsor in South Africa: Merrill Lynch South Africa
Proprietary Limited t/a BofA Securities.
About Science Based Targets
initiative
The Science Based Targets Initiative (SBTi) is a collaboration
between CDP, the United Nations Global Compact, World Resources
Institute (WRI) and the World Wide Fund for Nature (WWF). SBTi
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.
[1] https://www.ipcc.ch/sr15/
[2] The target boundary for Scopes 1 and 2 includes biogenic
land-related emission and removals from bioenergy feedstocks