IFF Achieves Key 2020 Sustainability Goals
IFF (NYSE:IFF) today announced the achievement of key 2020 sustainability goals that were set at the launch of the Company’s sustainability program in 2010. During that time, IFF met and surpassed its original intensity-based targets for three environmental goals, resulting in a reduction in its greenhouse gas (GHG) emissions, water withdrawal and hazardous waste generation per metric ton of production by -42.6%, -67.1% and -41% below 2010 levels, respectively. IFF has also achieved its 2020 goal to have 100% of the palm oil used in its products be certified according to the Roundtable on Sustainable Palm Oil (RSPO) Mass Balance Supply Chain Model.
These and other milestones are captured in its latest Sustainability Report, “For a Better World,” which is published today. The title references the Company’s purpose – Applying science and creativity for a better world – a clear and bold aspiration that inspires everyone at IFF to push past traditional boundaries and to be a force for a better and more sustainable future.
Andreas Fibig, IFF Chairman and CEO, said: “Although 2020 was a year unlike any we could have predicted, I am proud to say that IFF rose to the challenges we faced and remained steadfast in our commitments to people and planet – further strengthening our sustainability leadership position. As pleased as we are with our results, the solemnity of the urgent challenges that remain – from the climate emergency and nature loss to mounting inequality – compels us to do more, to do better. As we work toward a better world with the continued support of our employees, customers, suppliers and other partners, we look forward to building on our successes in 2020 and achieving even more ambitious environmental, social and governance (ESG) targets in the future.”
In addition to highlighting progress against IFF’s 2020 environmental goals, the report also covers the Company’s achievements throughout the business in leveraging sustainable practices within its global footprint. For example:
- Externally recognized for sustainability leadership, including being named to the Dow Jones Sustainability Indices, FTSE4Good Index Series, Euronext Vigeo World 120 Index and CDP A list, as well as receiving the EcoVadis platinum sustainability rating
- Continued its commitment to climate action by advancing on its Science Based Target to reduce absolute GHG emissions by 19.7% since 2015; powering 52% of its operations’ electricity requirements with renewable energy; and reporting for the first time in alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
- Expanded safety culture and training, resulting in a reduction in its lost time incident rate of 46% from the prior year
- Launched industry-leading blockchain technology as a tool for ensuring ingredient traceability in the vanilla supply chain in Madagascar
- Further embedded its commitment to circular design across its business, including by launching the Upcycled Extracts Collection, an ingredients portfolio made from several types of side-streams from its own processing that would otherwise be discarded
- Strengthened its commitment to diversity, equity & inclusion and was the first company to earn Economic Dividend for Gender Equality (EDGE) Move level certification globally
Dr. Greg Yep, IFF’s Chief Research & Development, Global Integrated Solutions and Sustainability Officer, said, “Looking back over ten years of sustainability at IFF, we are thrilled with what we have been able to achieve. Following the merger with DuPont Nutrition & Biosciences, the decade ahead not only marks the next phase of IFF’s sustainability journey, but also represents a pivotal window of opportunity. By focusing on sustainable innovation, circular design and integrated solutions, we look forward to leveraging our newly expanded capabilities to help address the world’s greatest sustainable development challenges.”
To read IFF’s 2020 Sustainability Report, visit iff.com/responsibilities and use #DoMoreGoodxIFF to follow the conversation on its social channels.
A live webcast to discuss the Company’s 2020 sustainability results and 2021 outlook will be held on May 20, 2021 at 9:00 a.m. ET. Mr. Fibig and Dr. Yep will be joined by Chief Investor Relations & Communications Officer Michael DeVeau; and Vice President, Global Sustainability & EHS Kip Cleverley, who will share updates on IFF’s key ESG metrics, goals and sustainability strategy. The webcast and accompanying slide presentation may be accessed on the Company’s Investor Relations website at ir.iff.com.
Investors and analysts are invited to participate by phone by calling 1-866-342-8591 from the United States and 1-203-518-9713 from other locations. The access code for the conference call is IFF0520 and a listen-only webcast will be available at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available on the Company’s website approximately one hour after the event.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.
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