Net-Zero Targets

We are committed to taking steps to minimise our carbon footprint, with GHG reduction targets supported by climate science. Here's an overview of our progress over the past two decades:   

2005: We set our first Group-wide GHG emission reduction target in 2005, against a 2004 baseline. 

2014: We reached our 10-year GHG reduction commitment, achieving a 29% reduction in specific GHG emissions. As a next step, we set a new GHG reduction target for our pulp and paper mills by 2030 and updated our baseline to 2014. 

2019: The approval of our science-based GHG reduction targets by the SBTi, aligned with a below 2.0°C scenario and covering 95% of our Scope 1 and 2 emissions, marked an important milestone for us.   

2021: Full compliance with disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Read more in our 2022 Integrated Report.

2022:  In January, we announced our commitment to transition to Net-Zero by 2050 recognising that action needs to be taken to swiftly and urgently as we move towards a low carbon, circular economy. In December, our Net-Zero science-based targets were approved by the SBTi. We are proud to be among the first packaging and paper companies with approved Net-Zero targets. 

2023: We have launched our sustainability-linked bond framework and expanded our supplier engagement with our first Virtual Supplier Event. We are updating our Net-Zero targets following the disposal of our Russian operations and including recent acquisitions. We will submit our revised Net-Zero targets to SBTi for validation in 2024.

Our priority is to reduce GHG emissions across our operations and value chain by setting our own GHG reduction measures, in line with the requirements of the SBTi Net-Zero Standard. We will continue to modernise our operations, invest in energy efficiency projects, switch to renewable energy sources and engage with our suppliers on low-carbon practices. For our long-term 2050 Net-Zero target, we acknowledge that there may be residual GHG emissions that we were unable to eliminate through GHG reduction measures. However, we currently do not intend to neutralise GHG emissions in the near-term. As we work towards our near and long-term targets, we will undertake regular reviews of our progress, and consider certificates or partnerships with companies, which offer permanent carbon removals to achieve Net-Zero by 2050.