The Science Based Targets initiative (SBTi) has validated Spanish sustainable packaging company Hinojosa Packaging’s emission reduction targets.
SBTi is a global initiative that assists businesses in setting scientifically based goals to combat the climate crisis.
With its approved climate action targets, Hinojosa Packaging aims to achieve the SBTi Net-Zero Standard by 2050, which entails a 90% reduction in emissions across scopes 1, 2, and 3.
The packaging company also established a near-term target to reduce its scope 1 and 2 absolute emissions by 60% by 2030, taking 2020 as the baseline year.
Scope 1 encompasses direct emissions from the consumption of fossil fuels while scope 2 pertains to indirect emissions from purchased energy.
In addition, the company aims to decrease its scope 3 emissions, which are related to fuel, transport, and distribution, by 42% by 2030.
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The company also commits to source all its electricity from renewable sources within the same timeframe and aims to align 80% of emissions from its procured goods and services with SBTi targets by 2028.
The Intergovernmental Panel on Climate Change (IPCC) has indicated that limiting the global temperature rise to 1.5°C is still within reach.
Hinojosa Packaging specialises in designing and manufacturing sustainable packaging solutions.
With a workforce of 2,900 employees, the company operates through two divisions, Paper and Packaging. It has 24 production plants situated across Spain, Portugal, France, and Italy.
The company said that it will engage stakeholders to support the achievement of these ambitious sustainability targets.
In March this year, Hinojosa Packaging solidified its international presence with the acquisition of Italy’s MS Packaging.
