Sonoco Releases 2023 Corporate Sustainability Report Detailing Progress on Sustainability Initiatives
24 April 2024 - 6:15AM
Sonoco Products Company (“Sonoco” or the “Company”)
(NYSE:SON), one of the largest global sustainable packaging
companies, today released its 2023 Corporate Sustainability 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:
- Achieved 8% year-over-year (YOY) decrease in greenhouse gas
(GHG) emissions driven by projects across our facilities globally
geared towards energy and emissions reduction
- Continued our commitment to GHG reduction through a Virtual
Power Purchase Agreement (VPPA) with ENGINE
- Co-founded the Poly Coated Paper Alliance (PCPA), an industry
collaboration focused on widespread recycling of poly-coated paper
in the U.S.
- Redesigned our iconic stacked chip package to allow for greater
recyclability
- Introduced our EnviroFlex® Paper solution for curbside
recyclable flexible packaging.
- Launched our Doing Safety Differently initiative
- Continued our commitment to support
diverse suppliers with over 10% of total supplier spend in the U.S.
and Canada
“Sonoco continues our commitment to promoting accountability and
transparency by communicating and engaging regularly with our
stakeholders about our sustainability efforts. We continued to make
progress during the year toward our sustainability and corporate
responsibility goals, which are designed to advance Sonoco’s
purpose: Better Packaging. Better Life.®,” said Howard Coker,
President and CEO. “Sonoco’s achievements in 2023 were made
possible by our dedicated employees around the world who work hard
to keep our commitments to customers, shareholders, suppliers and
communities. I want to thank them and all our stakeholders for your
efforts and support of our sustainability and corporate
responsibility goals.”
For detailed information on the frameworks and guidelines used
to measure and report on the economic, environmental, social and
governance standards, download our 2023 Corporate Sustainability
Report at
https://www.sonoco.com/na/sustainability/impact/reports.
About Sonoco Products CompanyWith net
sales of approximately $6.8 billion in 2023, the Company
has approximately 23,000 employees working in more than 300
operations around the world, serving some of the world’s best-known
brands. With our corporate purpose of Better Packaging. Better
Life., Sonoco is committed to creating sustainable
products and a better world for our customers, employees and
communities. Sonoco was named one of America's Most
Responsible Companies by Newsweek. For more information on the
Company, visit our website at sonoco.com.
Contact InformationLisa WeeksVice President of
Investor Relations &
Communicationslisa.weeks@sonoco.com843-383-7524
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