IG International’s near-term carbon commitment goals validated by SBTI

Mumbai, July 1st, 2022: IG International, one of the leading fresh fruit importers, has recently submitted its carbon reduction targets to the independent Science Based Targets initiative (SBTi), a partnership between the UN Global Compact, the World Resources Institute (WRI), CDP, and the Worldwide Fund for Nature (WWF). The SBTi assessed IG International’s near-term carbon commitments, the applied methodology and target setting against the Paris Climate Agreement—aimed at limiting global warming to 1.5 °C. After a meticulous review, SBTi has affirmed and validated the behemoth fruit importing brand’s near-term goals.

IG International has committed to improving various parameters mentioned in the SBTi criteria and recommendations version 5.0. In its near-term goals, IG International will focus on operating efficiently and keeping global warming well below 2 degrees Celsius. The comprehensive set of commitments also includes 23% reductions in scope 1 and scope 2 from the base year. The company has assiduously mapped and followed the Greenhouse Gas (GHC) protocol in conformity with the corporate standards and Scope 2 guidance (Scope 2 Guidance standardizes how corporations measure emissions from purchased or acquired electricity, steam, heat, and cooling) to estimate and report GHG emissions. The plan for the future is to reduce scope 1 and scope 2 emissions by 90% by the year 2050.

In accordance with climate science, the Science-Based Objectives initiative (SBTi) defines and supports best practices in carbon reductions and net-zero targets. It provides corporations with strategies and support for establishing science-based objectives in accordance with the most recent climate insights. These science-based targets are the touchstones and show companies and financial institutions how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climate change.

Acclaimed as the leading fresh fruit importer in India, IG International is entrenched with a renowned reputation for more than 50 years in this market segment. The company’s organized and strategic sourcing system, augmented by a seamless supply chain with a well-connected overseas procurement network, enables them to import best-of-breed fruits from 22 different countries.

Mr. Tarun Arora, Director of single-family office, IG International was quoted on this recent development, he said, “The fruits that we nurture and grow give us business and use the resources of nature and the environment. By conforming to environmental sustainability parameters adjudicated by the SBTi, we are committing to the persistent opportunities for our growth, the amelioration of the environment, and, above all, a better world for the future. A climate that favours the growth of fresh fruits, healthy soil, and organic biodiversity are all that is required for us and we are taking a step towards enhancing the same.”

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.