Pactiv Evergreen Publishes ESG Report

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by KnowESG
KnowESG_Pactiv Evergreen Publishes ESG Report
Image courtesy of Pactiv Evergreen

Pactiv Evergreen Inc. has unveiled its latest report on Environmental, Social, and Governance (ESG) initiatives titled 'Packaging a Better Future,' showcasing the strides made toward the company's ambitious goals in 2021 and 2022.

This comprehensive report underscores advancements within the company's three strategic ESG pillars, namely Protect Our Planet’s Resources, Deliver Sustainable Products Essential to Consumers, and Value Our People and Communities, all underpinned by robust ESG governance practices.

Mike King, President and CEO of Pactiv Evergreen, emphasised, “Our commitment to sustainability is fundamental to our Purpose of Packaging a Better Future and is guided by our Value to Do What’s Right to deliver sustainably manufactured products with ethics and integrity. Every day, we endeavour to operate with respect for the environment and are dedicated to sustainability across our product portfolio, manufacturing, and supply chains.”

Planet Pillar Highlights

Pactiv Evergreen is dedicated to reducing emissions and energy usage, preserving forest sustainability, minimising water consumption, reducing landfill waste, and promoting environmental stewardship. Key achievements include:

  • Reducing Energy Use and Emissions: Achieved a 21% reduction in Scope 1 and 2 greenhouse gas emissions from 2015 to 2022. Committed to setting science-based targets for greenhouse gas emissions to achieve Net Zero emissions by 2050.

  • Sustainable Forestry: Established and progressed toward three new goals supporting responsible forest management. In 2022, over 99% of the fibre used for paper products met sourcing standards, and all applicable North American facilities were chain-of-custody certified.

  • Operational Excellence: Designated over 100 Sustainability Champions to support goals and drive sustainability excellence across the company.

  • Plastic Management: All applicable facilities pledged to the Operation Clean Sweep initiative, keeping plastic out of the environment.

Products Pillar Highlights

Pactiv Evergreen remains committed to offering a diverse range of sustainable products and materials, designing innovative solutions, and collaborating across the value chain to enhance recyclability. Notable achievements include:

  • Packaging for the Future: Achieved 66% net revenues from products made from recyclable, recycled, or renewable materials. Launched over 40 new certified compostable products in 2022.

  • Circularity Certification: Obtained ISCC PLUS certifications at four manufacturing facilities to handle and track circular and/or bio-based resins.

  • Collaborative Initiatives: Engaged with various organisations to advocate for industry interests.

People Pillar Highlights

Pactiv Evergreen is focused on attracting, empowering, and retaining a dynamic team, promoting diversity, equity, inclusion, and supporting communities. Notable achievements include:

  • Community Engagement: Thousands of employees donated approximately 95,000 pounds of food and volunteered over 3,300 hours during the inaugural Give Back Month of Action – Hunger Action Month in September 2022.

  • Supplier Audits: Initiated Tier 1 and 2 supplier audits through Sedex to gain visibility into labour, health and safety, environmental, and business ethics practices in the supply chain.

  • Leadership and Development: Launched new Leadership Development programs for front-line and mid-level leaders.

  • Tuition Assistance: Introduced a tuition assistance programme for U.S. salaried and non-union hourly employees.

  • Safe Operations: Strengthened the Zero Harm Culture through the company’s operational excellence programme.

ESG Governance Highlights

Pactiv Evergreen is committed to maintaining a culture of integrity and ethics, setting high compliance standards, and providing transparent and regular ESG disclosures. Key achievements include:

  • Transparency: Published the first report based on the Global Reporting Institute index, informed by the Sustainability Accounting Standards Board’s Containers and Packaging and Pulp and Paper Products standards.

  • Climate Risk: Published climate-related risks and opportunities in the TCFD report.

  • Water Risk Analysis: Analysed water risk exposure through the World Resources Institute.

  • UN Sustainable Development Goals (UN SDGs): Provided updates on alignment with UN SDGs.

  • External Assurance: Received third-party limited assurance on Scope 1 and Scope 2 (location-based) emissions, energy consumed, and energy intensity, emphasising commitment to accountability and transparency.

For further details on Pactiv Evergreen's ESG progress, refer to the ESG Report available at pactivevergreen.com/sustainability, and a video overview is also available for viewing.

For more investor-related news

To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: Globe Newswire

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