NEW YORK--(BUSINESS WIRE)--Regulatory News:
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, has taken further action to solidify its commitment to sustainability and a low carbon global economy coming out of the United Nations Climate Change Conference (COP21) in Paris.
After returning from the historic meetings in Paris, Andreas Fibig, IFF Chairman and CEO said, “I applaud the leadership shown by the COP21 Presidency in reaching this important global agreement. IFF stands with nearly 200 leading businesses at the World Business Council for Sustainable Development (WBCSD), representing more than US$8.5 trillion in annual revenue and 19 million employees around the world. IFF is committed to reduce greenhouse gases and help safeguard life on our planet. It is both the right thing to do and excellent business.”
In recent weeks, IFF set in motion the following:
- To coincide with Energy Day at COP21, IFF expressed its commitment to 100% renewable energy by joining RE100, a collaborative initiative of influential businesses committed to increase corporate demand for renewable energy. The initiative is led by The Climate Group in partnership with CDP, as a part of the We Mean Business coalition.
- In advance of the COP21 meetings, IFF announced that it joined the American Business Act on Climate Pledge. They joined with more than 140 companies from across the American economy that are demonstrating an ongoing commitment to climate action and voiced support for a strong outcome to the COP21 Paris climate negotiations.
- During Pope Francis’s s visit to NYC, IFF signed the papal encyclical, “On Care for Our Common Home,” a case for Business Action on Climate Change.
- IFF confirmed its support of the Ten Principles of the United Nations Global Compact on human rights, labor, environment and anti-corruption with a letter of commitment to UN Secretary-General, H.E. Ki-moon. To further amplify this commitment, IFF worked with the WBCSD to pilot and help develop the Sustainable Development Goal (SDG) compass. The compass explains how to apply the SDGs to business, offering tools and knowledge to embed sustainability into business strategy and measure and manage the results.
- IFF was recognized on the CDP Climate “A” List, as well as the Carbon Disclosure Leadership Index (CDLI) with a perfect score of 100 in disclosure and an A in performance for its strategies and actions to mitigate climate change. CDP is an international not-for-profit that holds the largest collection of self-reported climate change, water and forest-risk data and helps to drive sustainable economies.
These actions come on the heels of a series of sustainability accomplishments, including:
- Industry-leading membership in the Together for Sustainability sustainable sourcing initiative
- For Life social responsibility certification for Turkish Rose, Patchouli, Basil, and Vetiver
- Meeting and surpassing its initial 2020 water reduction goal of 25 % and resetting its goal to 50% by 2020
- Roundtable on Sustainable Palm Oil (RSPO) Certification for multiple facilities
- Installing the industry’s largest solar array
- Receiving LEED Silver certification for its Indonesia Flavors plant
Mr. Fibig continued, “When it comes to sustainability, we won’t accept the status quo. This is why it is foundational to our Vision 2020 business strategy, and why we are committed to embedding sustainability throughout our business practices and our corporate culture.”
Peter Bakker, President and CEO of WBCSD said, “IFF is taking bold action on climate change, not just because it is the right thing to do, but because it also makes good business sense. With the historic Paris Agreement now in place, businesses will play a critical role in realizing the ambition of that Agreement. Low carbon investment, technologies, solutions and jobs will boom in the coming years as trillions of dollars pour into the sector. I encourage other businesses to follow IFF’s lead, by advancing their implementation plans and speeding the transition to a long-term, thriving and clean economy.”
For more information on IFF’s sustainability initiatives, see the Company’s 2014 Sustainability Report.
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 6,800 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter, Facebook, Instagram, and LinkedIn.