SMURFIT Kappa is making ‘significant’ progress on achieving its sustainability goals, according to the company’s 15th sustainable development report (SDR).
The report highlights the firm’s progress towards its goal of driving change and supporting a greener planet through the three main pillars of planet, people, and impactful business.
It detailed Smurfit Kappa making ‘significant’ progress in reducing its CO2 emission intensity in 2021. It added that the group is the first in its industry to have announced targeting at least net zero emissions by 2050 and, compared to its baseline year 2005, it reduced its emissions intensity by 41.3% by the end of 2021. The reduction in 2021 versus 2020 was 6%.
During 2021, Smurfit Kappa delivered several ‘landmark achievements’ such as:
- In March, Smurfit Kappa became the first FTSE 100 company to be awarded five stars by “Support the Goals” in recognition of the group’s support of the United Nations Sustainable Development Goals
- In September, the group launched its Green Finance Framework which was accompanied by a ‘very strong’ second party opinion with its product and circular business model being reported as a ‘significant contributor’ to UN SDG 12 ‘Responsible consumption and production’
- Also in September, Smurfit Kappa launched its inaugural green bond which was over-subscribed multiple times and secured the lowest ever coupon for a corporate issuer of its credit rating, along with strong participation from ‘dark green’ investors
- In December, Smurfit Kappa had its emissions reduction targets validated by the Science Based Target initiative (SBTi) as consistent with the objectives of the Paris Agreement, and well below 2°C.
Tony Smurfit, Group CEO, said, “This report highlights our continued leadership in sustainability, and how it extends from our products and manufacturing into the local communities in which we operate. Our circular business model helps us to address many of the challenges our stakeholders face. With continued focus on sustainability and through close collaboration with our value chain partners, Smurfit Kappa can deliver an even greater social, economic and environmental impact.”
