“We are delighted to welcome you to the second IFFCO ESG report, which marks another important milestone on our sustainability journey and demonstrates our commitment to bringing about sustainable change in the food system, driven by our vision of “Investing in the future.
The year 2023 was one of upheaval and volatility worldwide. IFFCO and our customers are navigating significant opportunities as we actively address evolving economic conditions, adapt to supply chain dynamics, enhance energy strategies, and overcome conflicts to build a resilient future. Climate change presents its own challenges. We operate in regions that are particularly vulnerable to its impacts, including rising temperatures, droughts, and water shortages, all of which have serious implications for the agricultural production on which our business depends. This volatility underscores the vital importance of advancing sustainable practices across our operations and value chains.
We made significant strides in our commitment to mitigating climate change, including developing a decarbonization roadmap and submitting ambitious targets for emissions reductions to the Science Based Targets initiative. We are proud to be signatories of the UAE Climate-Responsible Companies Pledge, committing to the UAE’s drive for decarbonization in line with the UAE Net Zero 2050 strategy. Our roadmap includes increasing the energy efficiency of our operations, such as switching to renewable energy sources, and working closely with suppliers to encourage responsible sourcing, aiming for a deforestation-free supply chain. We have also accelerated innovation with the launch of our first THRYVETM 100% plant-based meat factory in the UAE and other healthy, environmentally conscious products.
As we progress, sustainability continues to gain traction in our region. We were honored to participate in COP28, held in Dubai at the end of 2023, where we contributed to sessions and dialogues to impact the narrative and support policymakers globally. It was a privilege to welcome delegates Alexey Korokin and Federico Marcon at our headquarters to hear their insights on implementing sustainable practices and creating roadmaps to net zero.
Our commitment to sustainability extends beyond the environment to encompass social impact. We recognize that our people are our greatest asset, and we strive to create a safe, supportive, and inclusive environment. Our new Group Standard Operating Procedure, Safe Space, reflects the value we place on everyone connected with our operations.
By sharing the progress made over the last year and looking forward to what still needs to be accomplished, this report aims to stimulate discussion and encourage a collaborative approach to tackling the challenges ahead. We trust you will find it a thought-provoking read.”
