Mondi announces net-zero by 2050 pledge after delivering “credible” plan

Mondi is targeting net-zero emissions by 2050, in line with the UN’s Science-Based Targets initiative (SBTi). The paper and packaging giant says it has waited to announce the plan to develop a credible and detailed plan to back up the net-zero pledge, which many companies are rushing to declare.

The company’s plan commits to reducing greenhouse gas (GHG) emissions across all Scopes (1, 2 and 3) as defined by the UN. Scope 1 involves direct emissions from owned or controlled sources. Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company. Scope 3 includes all other indirect emissions in a company’s value chain.

The company says it has invested around €500 million (US$573 million) from 2015 to 2020 to increase its use of renewable energy sources and energy efficiency measures across its operations.

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