International Flavors & Fragrances Inc. (IFF) is a leading global creator of flavors and fragrances for a wide range of consumer products, including food and beverages, personal care products, and household and industrial goods. The company was founded in 1958 and is headquartered in New York City, with operations in more than 30 countries around the world.
IFF's mission is to create unique sensory experiences that enhance the quality of life for consumers. The company's products are used by some of the world's most well-known brands, including Coca-Cola, Nestle, Unilever, and Procter & Gamble.
In recent years, IFF has made a strong commitment to sustainability and decarbonisation. The company has set ambitious goals to reduce its carbon footprint and increase its use of renewable energy. In 2020, IFF announced that it had achieved carbon neutrality in its operations, meaning that it has offset all of its direct and indirect greenhouse gas emissions.
One of the key ways that IFF has achieved carbon neutrality is through its corporate energy strategy. The company has implemented a range of energy efficiency measures across its operations, including upgrading lighting and HVAC systems, optimizing production processes, and reducing waste. IFF has also invested in renewable energy projects, such as wind and solar farms, to offset its remaining emissions.
Another important aspect of IFF's sustainability strategy is its use of corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for electricity generated by a specific renewable energy project. By signing a PPA, companies like IFF can support the development of new renewable energy projects and reduce their reliance on fossil fuels.
In 2019, IFF signed a 12-year PPA with a wind farm in Texas, which will provide the company with 50% of its electricity needs in North America. This is one of the largest corporate PPAs in the fragrance and flavor industry, and demonstrates IFF's commitment to decarbonisation and renewable energy.
In addition to its energy and climate goals, IFF is also committed to sustainability across its entire value chain. The company has set ambitious targets to reduce its water usage, waste generation, and greenhouse gas emissions from its supply chain. IFF is also working to improve the sustainability of its raw materials, by sourcing ingredients from suppliers who meet its high standards for environmental and social responsibility.
Overall, IFF is a leading player in the flavors and fragrances industry, with a strong commitment to sustainability and decarbonisation. The company's corporate energy strategy, use of corporate PPAs, and focus on sustainability across its value chain demonstrate its leadership in this area. As the world continues to transition to a low-carbon economy, IFF's sustainability efforts will be critical in ensuring a more sustainable future for all.