SEATTLE (Scrap Monster): Memphis, Tennessee-headquartered International Paper (IP) announced that it has received approval from Science Based Targets initiative (SBTi) for its 35% greenhouse gas reduction target.
SBTi noted that the Scope 1 and Scope 2 targets of IP covering greenhouse gas emissions from its facilities are consistent with reductions required to keep warming to less than 2 degree Celsius, in line with the Paris Agreement. Additionally, Scope 3 emissions are in line with current best practice, SBTi said.
The approval recognizes the company as a leader in transition to low-carbon, thus making it one of the few North American paper and packaging companies with approved targets. The company is uniquely positioned to drive significant progress in the low-carbon circular economy and is committed to lead the industry to a more sustainable future, said Mark Sutton, Chairman and Chief Executive Officer, IP.
The SBTi approval demonstrates the alignment of the company’s sustainability ambitions with the Paris Agreement. The Vision 2030 goals released by the company during 2020 demonstrate its commitment to building a better future for people, the planet and the company itself.
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