Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34

LSE share code: MNDI              ISIN: GB00B1CRLC47
JSE share code: MNP

16 December 2022

Mondi’s science-based Net-Zero targets for greenhouse gas emissions reduction
validated by SBTi

          Mondi among the first packaging and paper companies with validated Net-Zero
           targets
          Near-term targets by 2030: 46.2% reduction of absolute Scope 1 and 2 GHG
           emissions and 27.5% reduction of Scope 3 GHG emissions
          Long-term targets by 2050: 90% reduction of absolute Scope 1, 2 and 3 GHG
           emissions

Mondi, a leading global packaging and paper solutions provider, confirms that the Science
Based Targets initiative (SBTi) has assessed and approved its science-based Net-Zero
targets. The targets covering greenhouse gas (GHG) emissions from Mondi’s operations and
supply chain (Scopes 1, 2 and 3) are consistent with a reduction required to keep global
warming to 1.5oC, needed to prevent the most damaging effects of climate change according
to the latest climate science1. Mondi announced its commitment to Net-Zero GHG emissions
reduction in January 2022 and is among the first companies in the packaging and paper sector
to have validated Net-Zero targets from the SBTi.
In the near-term, Mondi has committed to reduce absolute Scope 1 and 2 GHG emissions by
46.2% and Scope 3 GHG emissions by 27.5% by 2030 from a 2019 base year2. Our long-term
target is to reduce absolute Scope 1, 2 and 3 GHG emissions by 90% by 2050.
Mondi has already made strategic energy-related investments across its pulp and paper mills
with more than €650 million invested since 2015. We generate most of our energy needs in
energy plants on-site and our pulp and paper mills are largely electricity self-sufficient.

The IPCC special report on 1.5°C highlights the necessity to reach net-zero emissions by
2050. The setting of a science-based reduction target is an important step in supporting
achievement of Sustainable Development Goal (SDG) 13 Climate Action and is an important
next step on our decarbonisation trajectory, while supporting transparency and accountability
through annual disclosures.

Andrew King, Mondi Group CEO, said: “The approval of our science-based Net-Zero targets
according to SBTi’s Net-Zero Standard underlines our long-term commitment to taking action
on climate. Mondi has already made significant progress, achieving a 46% reduction of our
specific CO2e emissions to 2021 against our initial 2004 baseline. We are pleased to be among
the first in our sector to have approved Net-Zero targets and recognise that much more needs
to be done swiftly and urgently as we move towards a low-carbon, circular economy.”



1
    https://www.ipcc.ch/sr15/
2
  The target boundary for Scopes 1 and 2 includes biogenic land-related emission and removals from bioenergy
feedstocks
Enquiries
Susan Brunner
Senior Sustainability Positioning Manager
susan.brunner@mondigroup.com


Greg Salmon
Senior Investor Relations Manager
gregory.salmon@mondigroup.com


Chris Gurney
Senior Corporate Communication Manager
chris.gurney@mondigroup.com


About Mondi

Mondi is a global leader in packaging and paper, contributing to a better world by making
innovative solutions that are sustainable by design. Our business is integrated across the
value chain – from managing forests and producing pulp, paper and films, to developing and
manufacturing sustainable consumer and industrial packaging solutions using paper where
possible, plastic when useful. Sustainability is at the centre of our strategy, with our ambitious
commitments to 2030 focused on circular driven solutions, created by empowered people,
taking action on climate.
In 2021, Mondi had revenues of €7.0 billion and underlying EBITDA of €1.2 billion from
continuing operations, and employed 21,000 people worldwide. Mondi has a premium listing
on the London Stock Exchange (MNDI), where the Group is a FTSE100 constituent, and also
has a secondary listing on the JSE Limited (MNP).
mondigroup.com
Sponsor in South Africa: Merrill Lynch South Africa Proprietary Limited t/a BofA Securities.



About Science Based Targets initiative
The Science Based Targets Initiative (SBTi) is a collaboration between CDP, the United
Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for
Nature (WWF). SBTi defines and promotes best practice in science-based target setting,
offers resources and guidance to reduce barriers to adoption, and independently assesses
and approves companies’ targets.