Daily Newsletter

20 November 2023

Daily Newsletter

20 November 2023

IFCO releases ESG report for 2023 financial year

The company increased its average recycled content for each RPC to 40% during the year.

Jangoulun Singsit November 17 2023

Reusable packaging containers (RPCs) provider IFCO has published its environmental, social and governance (ESG) report for financial year 2023 (FY23).

Titled 'Thriving through circularity', the report provides details of the progress made by the company on its ESG 2025 Strategy.

The company aims to achieve carbon-neutral operations by 2025.

The IFCO ESG 2023 Report provides an overview of the company's activities and achievements in three core areas, including Thriving Business, Thriving Planet, and Thriving Society, with 2020 as the base year.

During FY23, IFCO replaced two billion single-use packaging units with its RPCs and scaled up the average recycled content for each RPC to 40%.

When used in the fresh grocery supply chain, the company’s RPCs are claimed to generate more carbon dioxide savings compared with the combined scope 1, 2, and 3 emissions across its entire global operations.

The company also diverted 1.6 million tonnes of single-use packaging waste from the supply chain and reduced overall scope 3 emissions by 12% in FY23.

IFCO CEO Michael Pooley said: "As we look back over the past year, I am immensely proud of the progress we have made on our ESG goals. As we step up our activities, we continue to scale up our positive impact on the global fresh grocery supply chain, on our society and on our planet.

“We are absolutely determined to inspire our industry to reject harmful single-use packaging as a way to reduce waste, protect fresh products and combat climate change. But we are not finished yet.

“By continuously striving to improve the IFCO SmartCycle, our sustainable circular pooling system for reusable packaging containers, we want to bring more partners along with us. Together, we will ensure that future generations get to live on a thriving planet."

In September this year, IFCO achieved Cradle to Cradle Certified Silver (Version 3.1) recertification for its European Lift Lock RPCs.

Global food packaging industry witnessing an uptick in demand for personalized packaging

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

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