Sonoco Releases 2022 Corporate Responsibility Report Detailing Progress on ESG and Sustainability Initiatives

Sonoco (NYSE: SON), a diversified global packaging company recognized for its leadership in sustainability, today released its 2022 Corporate Responsibility Report which highlights progress made in support of its environmental, social, and governance (ESG) initiatives.

This report was prepared in reference to the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) Containers and Packaging 2018 Sustainability Accounting Standard. The report also follows the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and details the Company’s progress on initiatives to reduce greenhouse gas emissions and energy usage by 2030 in line with the Science Based Targets initiative, which aligns with the Paris Climate Agreement. Recent achievements highlighted in the report include:
*Reducing Scope 1 and Scope 2 emissions by 0.7% in 2022 excluding the acquisition of Sonoco Metal Packaging, and reducing emissions intensity (tCO2e / thousand $ revenue) by 20%
*Joining the United Nations (UN) Global Compact to advance support for the UN’s Sustainable Development Goals and Ten Principles Compact
*Discontinuing the use of virgin pulp in mill operations with the completion of Project Horizon; all mills now utilize 100% recycled fiber
*Conducting water risk studies at 100% of our paper mills using the World Resource Institute (WRI) assessment; building future improvement plans based on findings
*Investing in renewable energy through one completed and three additionally approved solar installations projects
*Further expanding our Envirosense® portfolio of more sustainable packaging with new paper-based flexible packaging offerings, which supports our customers’ sustainability goals
*Launching a new Executive Safety Leadership Playbook to progress our world-class safety culture
*Spending more than $240 million with certified diverse suppliers through Sonoco’s Supplier Diversity program; almost $2 billion spent since 2010
*Strengthening our commitment to education and our communities through $2 million in donations from our Sonoco Foundation and global volunteer efforts through our Sonoco Cares program
*Advancing progress towards women and minority representation in the workplace; in 2022, women were 32% of new hires and in the United States, 42% of new hires belonged to a minority group
*Recognition by industry organizations including Fortune®, which ranked Sonoco first on Fortune’s World’s Most Admired Companies for the packaging sector, Barron’s®, which included Sonoco on Barron’s 100 Most Sustainable Companies for the fourth consecutive year, and Ecovadis®, which rewarded Sonoco with Gold for the second year in a row
more at: https://investor.sonoco.com/news-releases/news-release-details/sonoco-releases-2022-corporate-responsibility-report-detailing

Related Posts

Creating a Transatlantic Powerhouse – Trioworld to acquire Canadian based Malpack

Trioworld Group has signed an agreement to acquire the Canadian based Malpack Ltd. and US based Malpack Corp. (collectively, Malpack), a leading player in solutions for high-performance stretch film in the transit packaging segment. Malpack supports customers in the areas of distribution, beverage, food, consumer goods, e-commerce, and other industrial packaging. Trioworld is very pleased to welcome Malpack to the Trioworld group. As a North American leader in high-performance stretch film, Malpack has grown impressively over the past years. Based on a superior product portfolio consisting of innovative stretch films and a superior service level, Malpack now serves customer from coast to coast in US and Canada. The company is well-invested, and management is focused on strengthening their offering with circular solutions which is in line with Trioworld’s ambition to be the circular leader in the load security and transit packaging market.

A Clear Pathway to Packaging Innovation and Sustainability

In today’s market, consumers are continuously seeking safe, innovative and convenient packaging that aligns with their different lifestyles and environmental values. To remain competitive and increase market share, brands around the world are searching for attractive and highly functional packaging solutions that enable them to stand out and attract consumers while helping them reach their sustainability targets. At Aptar Closures, we are dedicated to partnering with brands to provide innovative, high-performing and sustainable dispensing closures for a range of applications and markets around the world. We use our exceptional in-house expertise, consumer insights and industry partnerships to design, manufacture and commercialize solutions that improve consumers’ experience while unlocking growth opportunities for brands. In addition to creating memorable consumer experiences, Aptar Closures’ is committed to designing innovative solutions to help brands achieve their sustainability targets without compromising on quality or performance.

International Paper Reports Second Quarter 2023 Results

*Net earnings of $235 million ($0.68 per diluted share); Adjusted operating earnings* (non-GAAP) of $204 million ($0.59 per diluted share) *$55 million of earnings achieved from Building a Better IP initiatives, bringing year-to-date to $120 million *Cash provided by operations of $528 million, bringing year-to-date to $873 million; Free cash flow** (non-GAAP) of $265 million year-to-date 2023 *Returned $200 million to shareholders through $40 million share repurchases and $160 million in dividends, bringing year-to-date to $519 million
Back To Top
×Close search
Search