Greif Commits to SBTi‑Approved Emissions Targets, Including First Scope‑3 Goal, After $1.8B Containerboard Divestiture

Greif, a leading industrial packaging company, commits to establishing new near- and long-term greenhouse gas emissions reduction targets. These goals will undergo approval by the Science Based Targets initiative (SBTi), an organization that validates corporate emissions reduction targets against current climate science. This strategic move follows Greif's $1.8 billion divestiture of its containerboard business to Packaging Corporation of America, completed in September 2025.

The company plans to submit these new targets alongside its 2025 sustainability report. The commitments include Greif's first target for Scope 3 emissions, which cover all indirect emissions occurring in a company's value chain, both upstream and downstream. This expands on its existing focus on Scope 1, direct emissions from owned or controlled sources, and Scope 2, indirect emissions from purchased energy.

A Greif spokesperson stated the company avoided claiming emissions reductions that stemmed solely from organizational changes, such as the containerboard divestiture, or its shortened 11-month fiscal year. This careful approach meant the 2025 report excluded comparisons to previous emissions baselines. The company's previous 2030 goals, which included a 28% reduction in Scope 1 and Scope 2 emissions from a 2019 baseline, will now be retired in favor of these more comprehensive, SBTi-aligned targets.

Product innovation also supports these environmental goals. Greif introduced new EcoBalance drums, which contain at least 75% recycled steel. These drums deliver approximately a 60% lower cradle-to-gate carbon footprint, measuring emissions from raw material extraction through manufacturing to the factory gate. This initiative demonstrates a tangible step towards reducing product-specific environmental impact.

Greif's decision to pursue SBTi-approved targets, particularly including a Scope 3 goal, signifies a broader accountability for its full value chain emissions. The divestiture and careful reporting strategy highlight a precise accounting of environmental performance, ensuring reported reductions reflect genuine operational improvements. This commitment establishes a new, independently validated baseline for future environmental performance. Investors and stakeholders will now watch for the public disclosure and official validation of these targets by the SBTi.