Smurfit Kappa has advanced one step further along its sustainability path with the signing of a commitment to link its CO2 target with the Science Based Target initiative (SBT) goals based on scientific knowledge. The move that comes after the leader in corrugated paper and packaging revealed in its 2019 Sustainable Development Report that it had cut its CO2 emissions by nearly a third since 2005.
SBT is the fruit of a collaboration between the United Nations Global Compact, WWF, CPD and World Resources Institute (WRI) and sets goals based on scientific knowledge as an effective way to boost the competitive advantage of companies transitioning to a low carbon economy. The initiative focuses on validating CO2 reduction targets in line with those of the Paris Agreement, signed in 2015, which aims to limit global warming to below two degrees Celsius by mid-century.
Tony Smurfit, CEO of the Group, said, “We have a long-term commitment to improving the planet and being part of the solution to the problem of climate change. SBT validation will also make our ambition to be the most sustainable company in the paper-based packaging industry even greater.”
Steven Stoffer, Vice President of Development at Smurfit Kappa, said, “We have spent more than a decade dedicated to lowering CO2 emissions; so signing a letter of commitment with the SBT is the logical next step and further proof of the Smurfit Kappa’s role in minimising the risks of climate change. Although we have made considerable progress in our goal of limiting the impact of climate change, we aspire to further reduce our CO2 emissions, targeting a 40% reduction by 2030, taking 2005 as a benchmark. ”
Smurfit Kappa also supports the recommendations of the Climate Financial Disclosure Task Force, a global body that makes disclosures about financial risks related to climate change and that are used to inform investors, lenders and insurers.