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IFF Publishes First External Sustainability Report
NEW YORK, Oct 18, 2011 (BUSINESS WIRE) --
International Flavors & Fragrances Inc (NYSE: IFF), a leading global creator of flavors and fragrances for consumer products, today announced the publication of its first external sustainability report.
The report, Sustainability: The Essence of IFF, describes the company's sustainability strategy and outlines its accomplishments for IFF's operations worldwide through the end of 2010. The Company undertook an extensive review of its sustainability practices around the world and incorporated them into the accelerated strategy presented in this report. Going forward, IFF intends to report on sustainability annually.
"IFF has a history rich in innovation, customer focus and sense of responsibility. Our collective goal should be that we achieve excellent sales, profitable growth, and game-changing innovation and do so in ways that benefit our customers, employees, shareholders, the environment, and society. I know this is within our reach," said Doug Tough, CEO and chairman.
"Our longstanding commitment to sustainable business practices is the essence of who we are at IFF," said Nicolas Mirzayantz, group president, fragrances, and the leader of the sustainability initiative at IFF. "And going forward we will accelerate our commitment for the benefit of all our current stakeholders and future generations."
IFF's strategy consists of four pillars:
- Creating innovative customer solutions - creating differentiating, innovative products and processes that support the health and wellness of consumers while enhancing our customers' brands
- Engaging and inspiring our employees - attracting and retaining the best talent by creating a culture of sustainability that maximizes our employees' engagement
- Sourcing responsibly - seeking to source our materials and product ingredients in a manner that is socially and environmentally sustainable
- Strengthening our eco-efficiency and community relationships - leveraging innovation to continually improve the environmental efficiency and social responsibility of our facilities
"We believe our sustainability strategy can advance the needs of the planet and all its inhabitants while being economically beneficial to the company," said Kip Cleverley, director of global sustainability. "Our four pillars address IFF's environmental, social and financial sustainability."
The Company prepared the report at a self-checked application level of "B" using the G3 guidelines of the Global Reporting Initiative (GRI), the respected global standard for such reporting. The full report is available online at http://www.iff.com/company/sustainability.aspx.
About International Flavors & Fragrances Inc.
International Flavors & Fragrances Inc. (NYSE: IFF) is a leading global creator of flavors and fragrances used in a wide variety of consumer products. Consumers experience these unique scents and tastes in fine fragrances and beauty care, detergents and household goods, as well as beverages, confectionery and food products. The Company leverages its competitive advantages of consumer insight, research and development, creative expertise, and customer intimacy to provide customers with innovative and differentiated product offerings. A member of the S&P 500 Index, IFF has more than 5,500 employees working in 33 countries worldwide. For more information, please visit our website at www.iff.com.
SOURCE: International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
Carol Brys, 212-708-7121
Denise Gillen, 212-515-7308