Iffco Group, a leading FMCG multinational company headquartered in the UAE, has announced the launch of its second ESG (environmental, social, and governance) report, with milestones achieved across environmental, social and governance indicators, detailing its significant successes in sustainability throughout its operations and sourcing practices.

In 2023, Iffco increased its waste recycling rate to 64%, reduced its water intensity by 13% compared to the previous year, maintained 100% traceability for palm oil to mills, and covered 30% of its facilities in the report's scope with solar panels.

In addition, the company increased the number of women in management roles by 25% compared to two years. Iffco also earned recognition for Best Sustainable Development Goal (SDG) Impact – SDG2, Zero Hunger at the ESG World Summit and GRIT Awards.

A key landmark in 2023 was the launch of Iffco’s Climate Roadmap 2030, created to act as a catalyst for innovation, greater efficiency and positive change.

The roadmap sets out clear targets for the company’s sustainability goals across its key areas of focus – energy efficiency initiatives and renewable energy share, transportation decarbonisation, and reducing emissions in the sourcing of palm, wheat and soy – and targets have been submitted to the Science-Based Targets initiative (SBTi) 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.

“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 a positive change through our operations."

Five solar plants were finalised in Pakistan, Italy and Indonesia in 2023, meaning a full 30% of Iffco’s production facilities now have solar plants in operation.

Alongside achieving a 13% reduction in water intensity, Iffco finalised its new Water Policy ready for roll-out in 2024, and reached a 64% post-manufacturing waste recycling rate – up from 52% in 2022 – as well as an overall reduction of 14% in solid waste production.

Iffco also reported 100% traceability for palm oil from all refineries; 100% traceability to plantation for all direct mill sources; a 61% volume of verified deforestation-free oil coming from refineries in line with NDPE IRF standard; 50% traceability to origin of harvest for soy, corn and sunflower; and 100% traceability to origin of harvest for wheat sourced by the company.

The company was an active participant at COP28, supporting policymakers globally and signing the UAE Climate-Responsible Companies Pledge. – TradeArabia News Service