IFCO receives SBTi validation for its near-term greenhouse gas emission reduction targets and shares Roadmap to Net Zero

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• Science Based Targets initiative (SBTi) approves IFCO's near-term greenhouse gas emissions reduction targets for 2031, which are aligned to a 1.5°C reduction pathway.
• The IFCO Roadmap to Net Zero outlines key decarbonization levers and sets clear milestones for becoming a Net Zero business by 2040.

MUNICH, Jan. 30, 2024 /PRNewswire/ -- IFCO, the world's leading provider of reusable packaging containers (RPCs) has published the IFCO Roadmap to Net Zero, which outlines key decarbonization levers and sets clear milestones for becoming a Net Zero business by 2040. Most notably, the Science Based Targets initiative (SBTi), an independent body, has validated IFCO's near-term science-based targets for 2031, confirming that the company's goals for reducing greenhouse gas (GHG) emissions align with a 1.5-degree scenario, as recommended by the Intergovernmental Panel on Climate Change (IPCC).

IFCO CEO Michael Pooley, highlights the ambitious nature of the roadmap:
"Our decarbonization roadmap builds on the success of the IFCO SmartCycle. While our circular business model is inherently sustainable, we are committed to achieving even more. By 2040, we intend to fully decarbonize our supply chain and become a Net Zero business. The validation of our targets from SBTi is a key milestone in this journey and confirms our commitment to set ambitious climate targets that are aligned with science."

IFCO committed near-term science-based targets

IFCO officially committed to setting carbon reduction targets in line with science through the Science Based Targets initiative in 2022. SBTi has now independently assessed, verified, and approved IFCO near-term targets. IFCO therefore commits to the following targets for FY2031 with a FY2021 baseline:

• 46.2% absolute reduction in Scope 1&2 emissions
• 17% absolute reduction in Scope 3 emissions from purchased goods and services and upstream transportation and distribution

The SBTi validation is a key milestone in IFCO's decarbonization journey, which began with the 2025 ESG strategy. The latest ESG report shows significant progress toward 2025 goals, including securing 100% certified green electricity for all IFCO-operated Service Centers and attaining carbon neutrality in operations.

IFCO Roadmap to Net Zero

Achieving its near-term Science Based Targets is a key step in IFCO's overall ambition to reach Net Zero emissions by 2040. To reduce scope 1, 2, and 3 emissions and meet both near-term and long-term climate goals, the company has developed a comprehensive decarbonization roadmap. Key focus areas include establishing carbon-neutral Service Centers, manufacturing low-carbon RPCs, and decarbonizing supply-chain transport. Some key levers include:

• Implementing low-carbon technologies at IFCO service centers, including solar and solar thermal solutions as well as heat pumps
• Using fuel-efficient vehicles, increasing use of rail, exploring zero-emissions transport.
• Transitioning to green electricity in the RPC recycling and production processes.
• Reducing the use of virgin plastic and increasing the proportion of recycled plastic to produce low-carbon RPCs.
• Further optimizing the IFCO SmartCycle, for instance by increasing the number of times each RPC is reused.

Inigo Canalejo, Vice President, ESG and Strategic Marketing, is spearheading the decarbonization roadmap:
"Delivering on our 2025 ESG goals is a top priority for IFCO. Working towards our now-approved near-term science-based targets for 2031 adds another level of commitment to our ambition. We are confident in our ability to deliver on our commitments and to overcome challenges with new technologies and our innovative mindset. To succeed, it is imperative that we collaborate with every stakeholder along our supply chain and fulfill our purpose to make the fresh grocery supply chain sustainable."

Download the IFCO Roadmap to Net Zero: Driving decarbonization of the global fresh grocery supply chain. https://www.ifco.com/net-zero-roadmap

About IFCO
IFCO is the leading global provider of reusable packaging solutions for fresh foods, serving customers in 50+ countries. IFCO operates a pool of over 380 million Reusable Packaging Containers (RPCs) globally, which are used for 2 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. IFCO RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste and environmental impact compared to single-use packaging. More: www.ifco.com | Follow us on LinkedIn @IFCO SYSTEMS

About the Science Based Targets initiative 
The SBTi guides businesses in the setting of credible science-based targets in line with current climate science. SBTs help define a pathway to future-proofing growth that is in line with the 1.5°C trajectory recommended in the Paris Agreement. For more information: https://sciencebasedtargets.org/

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