IFF Launches New Environmental Goals With Ambitious Science-Based Targets
NEW YORK, June 27, 2018 /3BL Media/ - International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF), a leading innovator of sensory experiences that move the world, today launched new environmental goals focused on emission reductions, zero waste to landfill and water stewardship. The initiatives are known collectively as “EcoEffective+.”
“After surpassing three of our four 2020 environmental targets, I am proud to say that EcoEffective+ will take us to 2025 and beyond,” said Andreas Fibig, IFF Chairman and CEO. “We developed these goals by reviewing what is essential to IFF, our stakeholders, and most importantly, the planet.” Mr. Fibig continued, “We have an unyielding commitment to the Earth and I believe that excellent environmental stewardship is both good business and absolutely the right thing to do.”
The EcoEffective+ goals focus on the following areas:
- The Company set an industry-leading emissions target, approved by the Science Based Target initiative (SBTi). The SBTi independently assesses and approves companies’ targets to help determine a pathway for reducing companies’ emissions in line with the Paris Climate Agreement’s goal of limiting global warming to well below 2°C above pre-industrial levels.
- By 2025, IFF will strive to reduce absolute GHG emissions by 30% and encourage suppliers to set their own science-based reduction targets and report annual emissions. 1
- The Company will strive to procure 75% of its electricity portfolio from renewable sources as part of its pledge to RE100 by 2025.
Zero Waste to Landfill
- In line with its sustainability strategy rooted in circular economy principles, IFF is committed to eliminating the concept of waste in its operations.
- In 2017, the Company achieved the industry’s first GreenCircle Zero Waste to Landfill certification at its South Brunswick, NJ, USA facility.
- Looking ahead, IFF will seek to achieve Zero Waste to Landfill status at all major manufacturing facilities by 2025. 2
- Since 2010, the Company has reduced its water use intensity by approximately 68%, surpassing its 2020 target of 50%.
- IFF will further reduce its fresh water consumption by using recycled water for more than half of its non-product operations. In addition, it will drive multi-stakeholder collaboration for water stewardship in targeted communities where they source & operate.
- Andreas Fibig signed the CEO Water Mandate confirming IFF’s commitment to advance water stewardship in partnership with the United Nations, governments, peers, civil society, and others.
“Based on our success in achieving our previous targets, I’m confident that our Green Teams around the world are well-equipped to take on this new challenge,” said Francisco Fortanet, IFF EVP Operations. “EcoEffective+ is the next step for IFF to further embed sustainability principles, not only at the operational level but at the core of our organization.”
For more information on sustainability at IFF, visit iff.com/sustain.
1For the science-based target above, emissions include both Scope 1 and 2 emissions from a 2015 baseline and IFF’s targeted suppliers reflect 70% of IFF’s supply chain emissions.
2A major facility is defined as a site that generates over 100 metric tons of waste annually.
Consistent with best practices and applicable reporting framework guidelines, the Company’s targets and baselines are based on current operations and may be adjusted to reflect material changes to the business, including the acquisition of Frutarom.
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International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,300 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter , Facebook, Instagram, and LinkedIn.
International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Corporate Strategy, Investor Relations & Communications