WestRock Commits to Emissions Reductions; Pledges to Set a Science-Based Target
24 June 2021 - 9:00PM
Business Wire
Recognized by the Science Based Target
initiative, Company will develop, validate and publish target
aligned with latest climate science
WestRock Company (NYSE: WRK), a leading provider of
differentiated paper and packaging solutions, today announced its
commitment to setting a new greenhouse gas emissions reduction
target that is aligned with current climate science. WestRock has
confirmed its commitment with the Science Based Targets initiative
(SBTi) and will develop, validate and publish a science-based
target within 24 months.
“Building on a proud legacy in sustainable forestry and fiber
management, we believe in the promise of a sustainable future, and
we are committed to working with our customers, our supply chain
and the communities where we work to get there together,” said
David B. Sewell, chief executive officer of WestRock. “That’s why
we have prioritized setting emissions reduction targets to help
reduce this critical element impacting climate change.”
This latest commitment builds on the progress WestRock has made
as a sustainability leader within the packaging industry. As
fiber-based packaging continues to grow in popularity, WestRock has
been taking active steps for—and with—its customers to work toward
a more circular economy. Pivotal to this progress is the company’s
commitment to offering fiber-based alternatives to plastic
packaging.
WestRock’s sustainability progress and performance is
highlighted in its latest sustainability report prepared in
accordance with Global Reporting Initiative (GRI) Standards – the
world’s leading sustainability reporting framework – and shows the
company’s ongoing commitment to transparency and
accountability.
The Science Based Targets initiative is a collaboration between
CDP, the World Resources Institute (WRI), Worldwide Fund for Nature
(WWF), and the UN Global Compact (UNGC). During the 2015 Paris
Agreement, 195 of the world’s governments committed to reducing the
most dangerous impacts of climate change by limiting global warming
to below 2 degrees Celsius signaling an acceleration in
expectations surrounding the transition to a low carbon
economy.
For more information on science-based targets and the SBTi’s
Call to Action visit the SBTi website.
About SBTi
The Science Based Targets initiative (SBTi) is a collaboration
between CDP, the United Nations Global Compact (UN Global Compact),
World Resources Institute (WRI) and the World Wide Fund for Nature
(WWF) and is one of the We Mean Business Coalition commitments. The
initiative champions science-based target setting as a powerful way
of boosting companies’ competitive advantage in the transition to
the low-carbon economy. Science-based targets are greenhouse gas
emissions reduction targets that are in line with the level of
decarbonization required to meet the goals of the Paris Agreement –
to limit global warming to well-below 2°C above pre-industrial
levels and pursue efforts to limit warming to 1.5°C.
About WestRock
WestRock (NYSE: WRK) partners with our customers to provide
differentiated, sustainable paper and packaging solutions that help
them win in the marketplace. WestRock’s team members support
customers around the world from locations spanning North America,
South America, Europe, Asia and Australia. Learn more at
westrock.com/sustainability.
Cautionary Statements
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on our current expectations,
beliefs, plans or forecasts and are typically identified by words
or phrases such as "may," "will," "could," "should," "would,"
"anticipate," "estimate," "expect," "project," "intend," "plan,"
"believe," "target," "prospects," "potential" and "forecast," and
other words, terms and phrases of similar meaning. Forward-looking
statements involve estimates, expectations, projections, goals,
forecasts, assumptions, risks and uncertainties. The Company
cautions readers that a forward-looking statement is not a
guarantee of future performance and that actual results could
differ materially from those contained in the forward-looking
statement. Such forward-looking statements include, but are not
limited to, that we will develop, validate and publish an approved
science-based target within 24 months. The Company’s businesses are
subject to a number of risks that would affect any such
forward-looking statements, including, among others, the level of
demand for our products; our ability to respond effectively to the
impact of COVID-19; our ability to successfully identify and make
performance and productivity improvements; increases in energy, raw
materials, shipping and capital equipment costs; reduced supply of
raw materials; the Company’s ongoing assessment of the recent
ransomware incident, adverse legal, reputational and financial
effects on the Company resulting from the incident or additional
cyber incidents and the effectiveness of the Company’s business
continuity plans during the ransomware incident; fluctuations in
selling prices and volumes; intense competition; the potential loss
of certain customers; the scope, costs, timing and impact of any
restructuring of our operations and corporate and tax structure;
the occurrence of severe weather or a natural disaster or other
unanticipated problems, such as labor difficulties, equipment
failure or unscheduled maintenance and repair, which could result
in operational disruptions, including those related to COVID-19;
our desire or ability to continue to repurchase company stock; the
scope, timing and outcome of any litigation, claims or other
proceedings or dispute resolutions and the impact of any such
litigation; our ability to realize anticipated synergies from the
KapStone acquisition; and adverse changes in general market and
industry conditions. Such risks and other factors that may impact
management's assumptions are more particularly described in our
filings with the Securities and Exchange Commission, including in
Part I, Item 1A “Risk Factors” in our Annual Report on Form 10-K
for the fiscal year ended September 30, 2020. The information
contained herein speaks as of the date hereof and the Company does
not have or undertake any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210624005464/en/
Investors: James Armstrong, 470-328-6327 Vice President,
Investor Relations james.armstrong@westrock.com
Media: Courtney James, 470-328-6397 Senior Manager,
Corporate Communications and Public Relations
courtney.james@westrock.com
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