REG-Smurfit Kappa Group PLC Statement re 2021 Sustainable Development Report

Smurfit KappaAnnouncement

20/04/2022 07:00

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Statement re 2021 Sustainable Development Report

 

PRESS RELEASE

20(th) April 2022

Smurfit Kappa reports significant progress in its Sustainability goals

2021 Sustainable Development Report highlights reduction of over 40% in CO(2)
emissions since 2005 and an improvement of over 6% year-on-year

Smurfit Kappa continues to make significant progress on achieving its
sustainability goals according to its 15th Sustainable Development Report
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com%2F-%2Fm%2Ffiles%2Fpublications---global%2Fsustainability-reports%2Fsmurfit_kappa_sustainable_development_report_2021.pdf%3Frev%3D73d0a758d2e44af0b8950a654bc942f1&esheet=52690812&newsitemid=20220419005964&lan=en-US&anchor=Sustainable+Development+Report&index=1&md5=0fbc3f3029dd5a3f920e39bdec29af33)
(SDR). The report highlights the company’s progress towards its
long-standing goal of driving change and supporting a greener planet through
the three main pillars of Planet, People and Impactful Business. It shows that
the company’s actions are delivering today, and together with its ongoing
investments and continuous improvement, it is well positioned to deliver on
its long-term ambition to have net zero emissions by 2050.

Smurfit Kappa made significant progress in reducing its fossil CO(2) emission
intensity in 2021. The Group is the first in its industry to have announced
targeting at least net zero emissions by 2050 and, compared to its baseline
year 2005, it reduced its emissions intensity by 41.3% by the end of 2021. The
reduction in 2021 versus 2020 was 6%, another significant step towards its net
zero target.

During 2021, Smurfit Kappa delivered several landmark achievements
highlighting its continued leadership in sustainability, such as:


 * In March, Smurfit Kappa became the first FTSE 100 company to be awarded 5
stars by “Support the Goals” in recognition of the Group’s support of
the United Nations Sustainable Development Goals

 * In September, the Group launched its Green Finance Framework which was
accompanied by a very strong second party opinion with its product and
circular business model being reported as a “significant contributor” to
UN SDG 12 “Responsible consumption and production”

 * In September, Smurfit Kappa launched its inaugural green bond which was
over-subscribed multiple times and secured the lowest ever coupon for a
corporate issuer of its credit rating, along with strong participation from
“dark green” investors

 * In December, Smurfit Kappa had its emissions reduction targets validated by
the Science Based Target initiative (SBTi) as consistent with the objectives
of the Paris Agreement, and well below 2°C. This validation is further
evidence of its long-term ambition coupled with delivery today.

Tony Smurfit, Group CEO, said: “This report highlights our continued
leadership in sustainability, and how it extends from our products and
manufacturing into the local communities in which we operate. Our circular
business model helps us to address many of the challenges our stakeholders
face. With continued focus on sustainability and through close collaboration
with our value chain partners, Smurfit Kappa can deliver an even greater
social, economic and environmental impact.”

Smurfit Kappa has published a significantly enhanced disclosure consistent
with the Task Force on Climate-Related Financial Disclosures (TCFD)
recommendations in its 2021 Annual Report, including a comprehensive top-down
identification and process review of climate-related risks and opportunities
and an evaluation of the potential impact on Smurfit Kappa assets from
physical and transition risks under different climate scenarios.

Highlights from the 2021 SDR include:


 * Social projects received €4.9 million during 2021

 * Reduction of 41.3% in fossil fuel emission intensity since 2005, or 6%
year-on-year

 * SBTi approval of its emission reduction targets in line with the Paris
Agreement

 * Reduction in water consumption of 6.2% year-on-year

 * Decrease in waste to landfill intensity of 29.2% since 2013, or 7%
year-on-year

As a leader in packaging, Smurfit Kappa continues to invest in sustainability
to ensure continued delivery on its long-term goals. One such example from
2021 was an investment of €11.5 million into a multi-fuel boiler at Smurfit
Kappa’s Zülpich paper mill which provides a more sustainable fuel source
for generating steam and electricity. The investment will remove 55,000 tonnes
of CO(2) emissions from 2022 onwards, delivering a 25% reduction of CO(2)
emissions at the mill.

Commenting on the release of the report, Garrett Quinn, Chief Sustainability
Officer at Smurfit Kappa, said: “Sustainability is at the heart of all we do
and how we think across our business. The progress outlined in this report is
testament to the dedication and commitment of everyone in our company, our
increasingly circular business, the benefits of our investments and our
end-to-end approach to sustainability. In Smurfit Kappa we focus on long-term
ambition coupled with action and delivery today, which is evidenced throughout
the 2021 SDR.”

Smurfit Kappa is a leader in the circular economy providing sustainable,
renewable, recyclable and biodegradable paper-based packaging solutions for
over 65,000 customers.

To read more about Smurfit Kappa’s sustainability targets and achievements,
or to download a summary or the full version of the Sustainable Development
Report
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com%2F-%2Fm%2Ffiles%2Fpublications---global%2Fsustainability-reports%2Fsmurfit_kappa_sustainable_development_report_2021.pdf%3Frev%3D73d0a758d2e44af0b8950a654bc942f1&esheet=52690812&newsitemid=20220419005964&lan=en-US&anchor=Sustainable+Development+Report&index=2&md5=c86e3a0fde1441a46e6e06def6a5d5c7)
please visit Smurfit Kappa’s website
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com&esheet=52690812&newsitemid=20220419005964&lan=en-US&anchor=website&index=3&md5=83c669f832ada82c68ef709db671d8d1)
.

-ENDS-

Media contact:

Sinead Gill

Smurfit Kappa

T: +353 87 117 3389

E: sinead.gill@smurfitkappa.com (mailto:sinead.gill@smurfitkappa.com)

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of
paper-based packaging solutions in the world, with approximately 48,000
employees in over 350 production sites across 36 countries and with revenue of
€10.1 billion in 2021. We are located in 23 countries in Europe, and 13 in
the Americas. We are the only large-scale pan-regional player in Latin
America. Our products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.

With our proactive team, we relentlessly use our extensive experience and
expertise, supported by our scale, to open up opportunities for our customers.
We collaborate with forward-thinking customers by sharing superior product
knowledge, market understanding and insights in packaging trends to ensure
business success in their markets. We have an unrivalled portfolio of
paper-based packaging solutions, which is constantly updated with our
market-leading innovations. This is enhanced through the benefits of our
integration, with optimal paper design, logistics, timeliness of service, and
our packaging plants sourcing most of their raw materials from our own paper
mills.

We have a proud tradition of supporting social, environmental and community
initiatives in the countries where we operate. Through these projects we
support the UN Sustainable Development Goals, focusing on where we believe we
have the greatest impact.

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