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 46% 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 and the Board’s approval of our new Net-Zero plan reinforces our commitment to contributing to a better world. The adoption of 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.
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: “Our current emissions reduction targets were approved by the SBTi 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.”
Mondi’s Sustainable Development Report 2020 can be found here.
Mondi was recently recognised by CDP with a prestigious ‘Triple A’ score for its leadership on climate, water and forests for the second year in a row.
Mondi is a global leader in packaging and paper, contributing to a better world by making innovative packaging and paper solutions that are sustainable by design. Our business is integrated across the value chain – from managing forests and producing pulp, paper and plastic films, to developing and manufacturing effective industrial and consumer packaging solutions. Sustainability is at the centre of our strategy and intrinsic in the way we do business. We lead the industry with our customer-centric approach, EcoSolutions, where we ask the right questions to find the most sustainable solution. In 2020, Mondi had revenues of €6.66 billion and underlying EBITDA of €1.35 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.
Glossary of terms
CDP is an international not-for-profit organisation providing a global system for companies to measure, disclose, manage and share information on climate change, water security and forests.
Greenhouse gases are gases listed in the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC) that contribute to the greenhouse effect.
The Science Based Targets initiative defines best practice in science-based target setting, offering resources and guidance and independently assesses and approves companies’ targets.