IFCO releases ESG Report 2024, confirming ongoing progress towards its 2025 goals and science-based targets

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Nov 14, 2024, 08:30 ET

Customer benefits: increased environmental savings delivered to customers by 4.1% in fiscal year 2024
CO₂e emissions reduction: Achieved a 7% reduction in total CO₂e emissions per reusable packaging container (RPC) trip compared to the previous year
Circular pooling model improvements: Increased the average recycled content in the production of new RPCs to 42%
SBTi validation: the Science Based Targets initiative (SBTi) validated IFCO's near-term greenhouse gas (GHG) emissions-reduction targets, marking an important step towards becoming a net-zero business by 2040

MUNICH, Nov. 14, 2024 /PRNewswire/ -- IFCO, a global leader in reusable packaging solutions for fresh food, has released its ESG Report 2024. This publication provides a comprehensive account of the company's environmental, social and governance performance throughout IFCO's fiscal year 2024 The title Advancing through circularity, together, captures IFCO's overall purpose, which is to make the global fresh grocery supply chain sustainable through reusable packaging solutions and emphasizes the company's collaborative approach. The report showcases IFCO's commitment to improving and sharing the efficiency and environmental benefits of the IFCO SmartCycle circular pooling model.

Notably, the IFCO ESG Report 2024 highlights the significant progress in the company's 2025 ESG Strategy, Thriving in the circular economy, which includes the goal of becoming a net-zero business by 2040. As in previous reports, IFCO's performance is measured over three core pillars – Thriving Business, Thriving Planet and Thriving Society – against the baseline year of 2020.

Key achievements in FY24 include the Science Based Targets initiative (SBTi) validation of IFCO's near-term greenhouse gas emissions-reduction targets, confirming their alignment to a 1.5°C reduction pathway. Another was improving its Sustainalytics Risk Rating to 10.7, reflecting the company's low-risk status and placing IFCO among the top 500 companies globally. Additionally, IFCO reduced total CO₂e emissions by 7% per reusable packaging container (RPC) trip and increased the recycled content in the production of its RPC portfolio to 42%.

Innovative partnerships and products secure environmental savings

As the ESG report shows, IFCO empowers customers to eliminate single-use packaging from their supply chains, improve operational efficiencies, cut down drastically on landfill waste and reduce the environmental impact of their operations. One successful partnership in the UK highlighted in the report resulted in a 45% reduction in trips in reverse logistics. More generally, the use of IFCO RPCs in customers' supply chains generates more savings in CO₂e emissions compared with the combined Scope 1, 2, and 3 emissions across IFCO's entire global operations. The same is true of waste generation and water consumption.

Furthermore, the IFCO ESG Report 2024 provides an overview of the company's customer-led innovations and pioneering digital approach. As well as receiving the 2024 US Plastics Pact Sustainable Packaging Innovation Award for its Vendor-Managed Inventory service, IFCO also expanded its reusable packaging portfolio with the launch of two new plastic pallets, and a new reusable smart fish crate.

Mike Pooley, CEO of IFCO, emphasizes that the company's comprehensive ESG Strategy goes beyond environmental benefits:
"As pioneers in our industry, we are determined to reshape the ESG performance of our business while inspiring others to follow suit. Guided by our Thriving in the Circular Economy strategy, we are making tangible progress towards our goals that amplify our inherent commitment to sustainability."

Iñigo Canalejo, Vice President ESG & Strategic Marketing at IFCO, highlights one key milestone on IFCO's journey to becoming a net-zero business:
"The validation of our near-term targets from SBTi is a key milestone in our net zero journey and confirms our commitment to set ambitious climate targets that are aligned with science."

About the IFCO ESG Report 2024
The IFCO ESG Report 2024 adheres to international sustainability standards, including the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). IFCO is a signatory to the United Nations Global Compact (UN Global Compact) corporate responsibility initiative and its Ten Principles in the areas of human rights, labour, environment and anti-corruption. IFCO is also dedicated to supporting the 17 UN Sustainable Development Goals (SDGs) through its ESG strategy. The report ensures transparency and continuity by addressing the same material issues identified in the first-ever IFCO ESG Report published in 2021. A new double materiality assessment has been completed, preparing IFCO for the upcoming Corporate Sustainability Reporting Directive and ensuring future reporting aligns with evolving regulations.

Download the IFCO ESG Report 2024: ESG Report 2024 - IFCO Systems

Find Pictures for Download here: https://www.ifco.com/wp-content/uploads/IFCO-ESG-Report-2024.zip

Contact:
Inigo Canalejo
Vice President, ESG and Strategic Marketing
[email protected] 

About IFCO:|
IFCO is a leading global provider of reusable packaging solutions for fresh foods, empowering customers to participate in the circular economy in 50+ countries. IFCO operates a pool of over 395 million reusable packaging containers (RPCs) globally, which are used for over 2.2 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

SOURCE IFCO