Berry Global Awarded Top ISS ESG Rating

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by Aaroshi Rathor,

Berry Global Group Inc

Source: https://www.sustainableplastics.com/news/berry-global-switch-certified-circular-pp-repsol-its-european-packaging-facilities

Prominent packaging and global innovative solutions company, Berry Global Group, Inc, has been awarded a top environmental, social, and governance (ESG) rating from the Institutional Shareholder Services group of companies (ISS) for its overall efforts for implementing ESG and bringing the company to the second position for such implementation within the packaging sector. It is important to note that the company has received good ratings from top global agencies like MSCI, but attaining the ISS award is a huge victory as it is a strict and well-known ESG rating agency that benchmarks minimum sustainability-related risks, opportunities, and standards for companies to achieve the top ESG scores for companies amongst their competitors.  It is an annual rating that covers a wide range of ESG and industry-related factors such as resource-conserving production, environmental impacts of production, responsible sourcing of raw materials, packaging life cycle, and product safety for the packaging industry. 

The company’s rating was marked by considerable targeted effort, such as including increased transparency in the company’s Impact Report of 2021, along with the implementation of ESG policies like environmental management, the listing of restricted substances, and publishing a global code of business ethics in 25 languages. Along with the ISS award, the company has also bagged a top-decile Governance Quality Score from ISS. The company’s ESG rating was based on more than 260 factors including Shareholder Rights, Board Structure, Compensation, and Audit and Risk Oversight.  In comparison to other publicly traded companies, Berry has higher quality governance standards and reduced governance risk, as indicated by its first decile governance score.  

Talking about the win, Chairman and CEO of Berry Global, Tom Salmon, said, “This recognition reflects the enormous strides made across Berry to increase transparency and prioritize environmental, social, and governance efforts at every level of our business. Ratings designations such as this are valuable guides for those trying to better understand which companies are driving positive change by embedding ESG principles throughout their organization.” 

The company is continuously making efforts toward its commitment to sustainability, which includes environmental initiatives and an overall focus on employee well-being. To check out their overall ESG ratings and compare them with their peers, access their sustainability report here.  

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