Sustainable Development Report demonstrates delivery across environmental and social targets
Smurfit Kappa announced today that it has achieved four of its mid-term, Better Planet 2050 sustainability targets. The Better Planet 2050 targets quantify the company’s commitment to delivering a sustainable future through: low-carbon, circular packaging solutions; increasing support for the communities in which it operates; and further enhancing the lives of its employees.
According to its 17th Sustainable Development Report published today, Smurfit Kappa has achieved its targets on:
- Waste: achieving a 35.8% reduction in waste sent to landfill, ahead of its 2025 target of 30% (24% in 2022)
- Forestry: achieving 95.5% of packaging sold with Chain of Custody certification, ahead of its 2025 target of 95% (94.3% in 2022)
- Communities: €25.6 million donated to support social, environmental and community initiatives, ahead of its 2025 target of €24 million (€18.4 million in 2022)
- Diversity: 25.1% of management positions were held by women at the end of 2023, ahead of its 2024 target of 25% (23.5% in 2022).
The comprehensive report, which covers January to December 2023, highlights the company’s progress through continued capital investment, ongoing operational improvements and collaboration with customers, suppliers and other key stakeholders.
Dynamically and sustainably delivering
In addition to reaching its key sustainability targets, several landmark achievements are noted in the report, including:
- Becoming an early adopter of the Taskforce for Nature-related Financial Disclosures (‘TNFD’), one of only 180 companies globally
- The installation of 12,000 solar panels at its Sangüesa paper mill in Spain, adding to similar green energy initiatives at plants in Spain, Colombia, Mexico and most recently, in a new facility in Morocco
- The completion of a €27 million investment in a new waste management and recovery facility at the Nervión paper mill in Iurreta, Spain, removing over 70,000 tonnes of material that was previously sent to landfill
- Inauguration of a pioneering purification and wastewater treatment plant in Belgrade, Serbia, the first of its kind in the country
- Continued progress in its US$100 million biomass project in Colombia, which will be the largest decarbonisation project in the Group’s history and is scheduled to start up in 2025
- Publication of the Group’s second Green Bond Impact Report
- Sustainability leadership recognised by Morningstar Sustainalytics who acknowledged Smurfit Kappa as the number one performer in the paper packaging sector, building on its strong performance in MSCI and ISS ESG and its recent improved A- score in CDP across climate, water and forestry.
Commenting on the release of the report, Tony Smurfit, Group CEO, said: “I am immensely proud of the significant progress made towards our sustainability goals during 2023. I am particularly proud that we have already achieved four of our Better Planet 2050 targets. This not only reflects the dedication of our people and the effectiveness of our investment programmes, but it shows our unwavering commitment to supporting our local communities, creating a better planet and delivering a low carbon, circular future.”
Garrett Quinn, Chief Sustainability Officer at Smurfit Kappa, continued: “Our latest Sustainable Development Report highlights several landmark achievements that are delivering today across our sustainability commitments. In addition to the performance in 2023, Smurfit Kappa continues to take action now to deliver on a more sustainable future through areas such as: collaborative projects on decarbonisation; the early adoption of the TNFD; and the focus of all our employees on delivering a manufacturing process that is as sustainable as our product.”
To download a summary or the full interactive version of the Sustainable Development Report, please visit our Sustainability Reporting page
RELATED NEWS
