Sonoco Releases 2021-22 Corporate Sustainability Report, Renews 2030 Commitments
August 03 2022 - 6:45AM
Sonoco (NYSE: SON), one of the largest diversified global packaging
companies, today released its 2021-22 Corporate Responsibility
Report, renewing ambitious 2030 commitments to reduce greenhouse
gas emissions and energy usage. The Science Based Targets align
with the Paris Climate Agreement, which seeks to limit global
warming temperatures well below -2 degrees Celsius above
pre-industrial levels.
Beyond performance metrics, Sonoco further
increased packaging sustainability and recycling with the $1.35
million acquisition of Ball Metalpack in January 2022. This
expanded Sonoco’s can-making franchise and sustainable product
portfolio with the addition of tinplate steel packaging – the
world’s most recycled substrate. Funds for the acquisition came
from $1.2 billion in certified Green Bonds, one of the largest
sustainable offerings to date in the U.S. packaging sector.
“We believe that we can grow our global
sustainable packaging business while we work to lessen our impact
on the environment,” said Howard Coker, President and
CEO. “Our journey to achieve these mutually beneficial goals
continued over the past year despite unprecedented head winds from
supply chain disruptions, inflation and the continuing effects of
the pandemic.”
Nearing completion is a $125 million investment to
upgrade Sonoco’s Hartsville Mill complex, including the conversion
of a corrugated medium machine into a state-of-the-art, 180,000
ton-per-year uncoated recycled paper (URB) mill. The initiative,
known as Project Horizon, enables URB production at the lowest cost
worldwide and creates an estimated 16 percent reduction in
electricity consumption and emissions and 1-million-gallon
reduction in water.
Last year, Sonoco also made significant progress
toward its Diversity and Inclusion goals despite a challenging
labor market. In the US, female new hires made up 44% of talent
while 34% belonged to a minority group. Efforts to reduce
environmental social and governance risks have led to Sonoco’s top
ranking in Fortune’s World’s Most Admired Companies for the
packaging sector, a mention in Barron’s 100 Most Sustainable
Companies for the fourth consecutive year and a spot in Newsweek’s
list of America’s Most Responsible Companies.
Download our 2021-22 Corporate Responsibility
Report: Better Packaging. Better Life. Building a Better World for
detailed guidelines used to measure the economic, environmental and
social standards of the Company.
About Sonoco Founded in 1899,
Sonoco (NYSE: SON) is a global provider of consumer, industrial,
healthcare and protective packaging. With annualized net sales of
approximately $5.2 billion, the Company has approximately
22,000 employees working in more than 300 operations in 32
countries, serving some of the world’s best-known brands in some 85
nations. Sonoco is committed to creating sustainable products,
services and programs for our customers, employees and communities
that support our corporate purpose of Better Packaging. Better
Life. The Company was ranked first in the Packaging Sector on
Fortune’s World’s Most Admired Companies for 2022 as well as being
included in Barron’s 100 Most Sustainable Companies for the
third-consecutive year. For more information, visit
www.sonoco.com.
Contact:
Lisa Weeks
843-383-7524
lisa.weeks@sonoco.com
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