US-based sustainable packaging producer International Paper has secured approval from the Science Based Targets initiative (SBTi) for its carbon reduction target.
The target was announced last year and is part of the company’s Vision 2030 goals.
It includes shifting to a low-carbon economy by using fibre-based products and supporting forest stewardship efforts worldwide among other efforts.
In addition, International Paper will reduce its greenhouse gas emissions by 35% from 2019 levels and its water usage by 25%.
The science-based carbon reduction goal complies with levels required by the Paris Agreement and is also consistent with reductions needed to maintain global warming to 2°C.
International Paper’s value chain emission target also fulfils SBTi’s criteria for ‘ambitious value chain goals’.
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With this approval, the company has become one of North America’s first paper and packaging companies to have had its low-carbon targets formally recognised.
There are more than 1,000 approved targets from other industries worldwide.
International Paper chairman and CEO Mark Sutton said: “The SBTi approval means we’ve aligned our own sustainability ambitions with the Paris agreement and demonstrates International Paper’s commitment to building a better future for people, the planet and our company.”
Based in Memphis, Tennessee, International Paper specialises in manufacturing packaging products and pulp for nappies, tissues and other personal hygiene products.
The company aims to ensure all its products across its value chain are fully reusable, recyclable or compostable by 2030.
Sutton added: “As a global leader in the forest products industry, International Paper is uniquely positioned to drive significant progress in the low-carbon circular economy.
“We are committed to leading our industry towards a more sustainable future.”
In February, International Paper agreed to divest its Kwidzyn pulp and paper mill in Poland.
The mill was sold to Austrian fibre-based packaging company Mayr-Melnhof Karton for around €670m ($757m) in cash.