Discover IFFCO's Game-Changing Climate Roadmap 2030 in Latest ESG Report

IFFCO Group, a leading FMCG multinational based in the UAE, has released its second ESG report. This report highlights significant achievements in environmental, social, and governance areas, showcasing the company's commitment to sustainability across its operations and sourcing practices.

In 2023, IFFCO made notable progress in several key areas. The company increased its waste recycling rate to 64%, reduced water intensity by 13% compared to the previous year, and maintained 100% traceability for palm oil to mills. Additionally, 30% of its facilities now operate with solar panels.

Environmental Achievements

IFFCO's environmental efforts include finalising five solar plants in Pakistan, Italy, and Indonesia. This expansion means that 30% of IFFCO's production facilities now utilise solar energy. The company also achieved a 14% reduction in solid waste production and introduced a new Water Policy set for roll-out in 2024.

The company reported full traceability for palm oil from all refineries and direct mill sources. It also achieved a 61% volume of deforestation-free oil from refineries according to NDPE IRF standards. For soy, corn, and sunflower, IFFCO reached 50% traceability to the origin of harvest and 100% for wheat.

Social Initiatives

IFFCO has made strides in social responsibility by increasing the number of women in management roles by 25% over two years. The company was recognised for its impact on Sustainable Development Goal (SDG) 2, Zero Hunger at the ESG World Summit and GRIT Awards.

"The milestones presented in our 2023 ESG report not only reflect our dedication to sustainable practices and responsible business operations but also underscore our efforts to integrate the highest of ESG standards into our business. Our ESG strategy demonstrates our steadfast dedication to sustainable growth, transparency and continuous improvement. We aim to lead by example by setting benchmarks in our industry and exemplifying global best practices, and to build and strengthen our sustainability agenda so we can drive positive change through our operations," said Rizwan Ahmed, Executive Director at IFFCO Group.

Governance Efforts

A significant milestone for IFFCO in 2023 was launching its Climate Roadmap 2030. This roadmap aims to foster innovation, improve efficiency, and drive positive change. It sets clear targets for energy efficiency initiatives, renewable energy share, transportation decarbonisation, and reducing emissions from sourcing palm, wheat, and soy.

The company's targets have been submitted to the Science-Based Targets initiative (SBTi) for validation. IFFCO also participated actively at COP28, supporting global policymakers and signing the UAE Climate-Responsible Companies Pledge.

IFFCO's comprehensive approach towards sustainability is evident through these detailed efforts across various sectors. Their commitment is further highlighted by their continuous improvements and strategic initiatives aimed at fostering a more sustainable future through responsible business practices.