Klöckner Pentaplast (kp or the company), a global leader in high barrier protective packaging solutions, today announced the release of its 2020 Sustainability Report, detailing its progress and commitment to key sustainability initiatives. The report provides details of performance relating to topics that are material to its business and has been prepared in accordance with the Global Reporting Initiative (GRI) Standards.
Sustainability has been a focus at kp for many years. Recently the company has doubled down on its efforts with the launch of a new sustainability strategy, Investing in Better, consisting of ten ambitious goals. Those efforts are already beginning to show results, with a 14% year-on-year reduction of CO2 emissions and the incorporation of more than 120,000 tonnes of rPET into products.
“We’ve worked hard to ensure that sustainability is firmly embedded in how we do business and in our commercial strategy.” said Scott Tracey, CEO. “We’ve integrated our goals into our refinancing, which was the first of its kind in the US to incorporate an ESG-Ratchet Linked Term Loan. We know that kp will be much more effective in reaching and succeeding our goals as we collectively engage across our organisation, with our suppliers and with our customers in driving the sustainability agenda.”
This year, the company was also gratified to be recognised by EcoVadis – the independent provider of global sustainability ratings for environmental, social, and ethical performance – with a Gold award, putting them in the top 3% of plastic product manufacturers assessed.
Adam Elman, Group Director of Sustainability at kp states, “I am proud of the progress that we are able to show against our Investing in Better sustainability strategy. We know there is more to be done and we will keep pressing forward with the changes required to reach our ambitious goals, whilst sharing progress and challenges transparently.”