IPG’s Emissions Reduction Targets Validated by The Science Based Targets initiative
Company Sets Near-Term Targets to Reduce Scopes One, Two and Three Emissions
New York, NY, June 15, 2023 (GLOBE NEWSWIRE) -- – Interpublic Group (NYSE: IPG) today announced that the company’s near-term science-based targets were approved by the Science Based Targets initiative (SBTi), the best-practice framework for validating corporate emissions reduction targets. The targets commit IPG to reducing absolute scope 1 and 2 GHG emissions by 50%, and scope 3 GHG emissions by 30%, by 2030 compared to 2019 (baseline year). Through this commitment IPG is also a signatory to the Business Ambition for 1.5°C and a member of the UN-backed Race to Zero campaign.
To reach these targets, IPG continues to focus on its operations, real estate portfolio and business travel. The company has consolidated some of its office spaces for efficiency and introduced new travel and entertainment policies that encourage more sustainable forms of travel. Most recently, IPG launched a supplier engagement program to refine the assessment of the emissions associated with its supply chain. The company will expand this program every year to ultimately drive down collective emissions.
“Validation from the SBTi on our emission reduction targets is an important milestone on our climate journey,” said Jemma Gould, IPG’s Chief Sustainability Officer. “We plan to use these targets to guide our roadmap for emission reduction across our business, and we look forward to continuing cross-company and industry collaboration as we work on these commitments” she continued.
In addition to setting these SBTi-validated emission reduction targets, in 2021, IPG also announced its goal to reach net-zero carbon across its portfolio by 2040, and to source 100% renewable electricity by 2030. IPG reports on its progress against its targets annually in one comprehensive ESG Report that includes GRI Standards, SASB Standards, TCFD recommendations, UN Global Compact and UN Sustainable Development Goals. IPG discloses supplementary climate and emissions information through its annual CDP response. IPG also engages an external third party to perform a limited assurance engagement on certain greenhouse gas (GHG) emissions and employee diversity metrics. In addition to being listed on the Dow Jones Sustainability Index North America, and the FTSE4Good, IPG was also recently named to USA Today’s list of “America’s Climate Leaders 2023.”
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Interpublic (NYSE: IPG) (www.interpublic.com) is a values-based, data-fueled, and creatively-driven provider of marketing solutions. Home to some of the world’s best-known and most innovative communications specialists, IPG global brands include Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative, IPG Health, Jack Morton, Kinesso, MAGNA, Matterkind, McCann, Mediabrands, Mediahub, Momentum, MRM, MullenLowe Group, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with total revenue of $10.93 billion in 2022.
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