Smurfit Kappa announces that its emissions reduction targets have been approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement.
The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF), which defines and promotes best practice is science-based target setting and independently assesses companies’ targets.
Emission reduction targets are considered ‘science-based’ when their CO2 reduction targets are in line with what the latest climate science says is needed to meet the goals of the Paris Agreement – meaning they must be consistent with the reductions require to keep global warming well-below 2oC.
In 2020, Smurfit Kappa committed to reaching at least net zero emissions by 2050. At the time, the company claimed to have already achieved a 32.9% reduction in CO2 emission intensity on its 2030 target of 40% and added that it would therefore raise its intermediate 2030 CO2 reduction target to 55%.
Tony Smurfit, CEO of Smurfit Kappa, said: “The SBTi validation builds on our well-established sustainability credentials and is an extremely positive development for Smurfit Kappa and all our stakeholders.
“The world must move to circular business activities with low carbon emissions. SBTi is further evidence of our ability to deliver on this goal, and for our customers, through our increasingly sustainable operating footprint and packaging solutions.”
Garrett Quinn, chief sustainability officer at Smurfit Kappa, adds: “In Smurfit Kappa we focus on long-term ambition coupled with action and delivery today. The strength of our continued delivery across our sustainability metrics has been further underlined by SBTi’s approval.
“Since starting our corporate sustainability reporting journey over 15 years ago, we have been collaborating with like-minded organisations to tackle critical issues such as climate change, waste reduction and water scarcity.
“SBTi approval provides us with a solid foundation to build towards our Better Planet 2050 targets and plays an increasingly important part in the delivery of our customers’ sustainability goals.”