IFFCO Group, the leading Dubai-based consumer staple multinational company, on Monday announced that it increased its waste recycling rate to 64 percent and reduced water intensity by 13 percent last year.
The announcement was part of the launch of its second ESG report, which highlighted the milestones it achieved last year in driving through its operations and sourcing practices.
According to a press release, the company maintained 100 percent traceability for palm oil to mills. In other words, IFFCO ensured that every unit of palm oil purchased last year could be traced back to its source, demonstrating a commitment to responsible and ethical business practices.
The fast-moving consumer goods major also covered 30 percent of facilities with solar panels after transitioning five of its plants in Pakistan, Italy and Indonesia in 2023 to clean energy resources, the statement said.
Additionally, the company increased the number of women in management roles by 25 percent compared to two years.
The statement said these achievements resulted from the launch of IFFCO’s Climate Roadmap 2030, which was created to catalyze innovation, greater efficiency and positive change.
The roadmap sets clear targets for driving energy efficiency initiatives, renewable energy share and transportation decarbonization.
The strategy mainly focused on reducing emissions in sourcing palm, wheat, and soy and submitted its findings to the Science-Based Targets initiative for validation.
“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,” said Rizwan Ahmed, executive director at IFFCO Group, in a statement.
The company actively participated in the UN climate change conference in the UAE last year.
As the company continues to pursue its Climate Roadmap 2030, its focus on innovation, efficiency and positive environmental impact positions it as a leader in driving the industry towards a more sustainable future.
The full ESG report is available here.
