NEW YORK — IFF on Dec. 13 released an environmental, social and governance (ESG) plan called the 2030 “Do more good plan.” The New York-based company under the plan will focus on four areas: environmental, social, governance and sustainable solutions.
In environmental goals, IFF will aim to reduce greenhouse gas (GHG) emissions by 50% below 2021 levels by 2030, achieve net zero GHG emissions by 2040 and be net positive by 2050. IFF by 2030 plans to verify zero waste to landfill, including plastic minimization, for all major manufacturing facilities. The company wants to achieve zero deforestation for raw material supply chains by 2030 and will begin with palm, soy and wood.
In social goals, IFF aims to have people of color make up 40% of management roles in the United States by 2030 and women holding 50% of all management roles companywide by the same year. In governance, IFF will launch ESG metrics tied to executive compensation and will expand oversight for ESG at the board of directors’ level. In sustainable solutions, the company aims to enable customers and consumers to save at least 50 times more carbon dioxide than generated at IFF’s own manufacturing sites by providing innovative solutions such as sustainable proteins and enzyme solutions that enable food waste reduction and energy savings.
“With our ‘Do more good plan,’ we are taking another bold step in our aspirations to do more for people, planet and product,” said Andreas Fibig, chairman and chief executive officer of IFF. “Ten years ago, when we formalized our sustainability program, we knew the journey would lead us to being even better partners with our customers, communities and stakeholders. To date, our efforts have achieved ratings above industry standards and have had real impact throughout our value chain. Today, we are going further. With this Plan, we are embedding even more ambitious targets, in our operations and partnerships, to address the urgent issues that affect our world.”