Mondi PLC Mondi's Net-Zero targets validated by SBTi

 
TIDMMNDI 
 
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 
 
[e-mail] 
 
Greg Salmon 
 
Senior Investor Relations Manager 
 
[e-mail] 
 
Chris Gurney 
 
Senior Corporate Communication Manager 
 
[e-mail] 
 
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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 16, 2022 04:00 ET (09:00 GMT)