REG-Smurfit Kappa Group PLC Statement re 2020 Sustainable Development Report Smurfit Kappa accelerates CO2 emissions reduction in 2020

Smurfit KappaAnnouncement

05/05/2021 07:15

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Statement re 2020 Sustainable Development Report Smurfit Kappa accelerates
CO2 emissions reduction in 2020

2020 Sustainable Development Report demonstrates continued year-on-year
delivery on CO2 reduction of 7% and reinforced commitment to sustainability
targets

 

Smurfit Kappa continues to make significant and tangible progress on achieving
its sustainability targets according to its 14th Sustainable Development
Report ("SDR"). It highlights the company’s long-standing objective to be an
impactful business that drives change and nurtures a greener planet through
the three key pillars of Planet, People, and Impactful Business. Furthermore,
Smurfit Kappa’s end-to-end approach to sustainability is evident in its
innovative products and processes that support customers and positively impact
the entire value chain.

Compared with 2019, Smurfit Kappa made significant progress in reducing its
fossil CO2 emission intensity. 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 37.3% by the end of
2020. The reduction in 2020 versus 2019 was 7% which is an acceleration
compared with the previous year. The Group is well on its way to reach its
intermediate 2030 target of 55% reduction, in line with the EU Green Deal
objectives.

Compared with 2019, the Group also made continued progress during 2020 on a
number of its other key sustainability targets:


 * Water discharge quality improved by 5%

 * Waste to landfill intensity decreased by 18%

 * Chain of Custody certified packaging deliveries to customers increased by 2%

 * Safety performance improved by 29%

 * Social projects received €7.7 million in donations, including €3 million
in various COVID-related projects during the financial year.

Tony Smurfit, Group CEO, said: “During the pandemic, the importance of
sustainability has become even clearer. Climate change, has become, in the
eyes of many, a climate crisis, and diversity, inclusion and equality are
urgent issues for global society. Circular economy and sustainable forestry
management are at the heart of our business principles, and directly addresses
legitimate concerns of our customers and indeed of the broader public. With a
focus on sustainability, and by collaborating with our value chain partners,
we can create greater social, economic and environmental value.”

While the SDR has been independently assured since 2009, the 2020 SDR is the
company’s first to report in line with recommendations of the Taskforce for
Climate related Financial Disclosures(1) and the Sustainable Accounting
Standards Board(2) criteria.

Smurfit Kappa also aligned its sustainability ambitions and targets into its
financing by embedding its sustainability targets via Key Performance
Indicators into its existing €1.35 billion Revolving Credit Facility
(“RCF”), creating a Sustainability Linked RCF, at the end of 2020.

Smurfit Kappa has been contributing to making the UN 2030 Sustainable
Development Goals (SDGs) a reality since 2015. This contribution was
recognised by the Support the Goals movement in 2020 when the company became
the first FTSE 100 company to receive a five-star rating.

Steven Stoffer, Group VP of Sustainable Development at Smurfit Kappa, said:
“This five-star rating from Support the Goals, our continued listing on the
FTSE4Good, Euronext Vigeo Europe 120 and others, and the recent upgrading by
ISS ESG to the highest rating in the environmental category, is testament to
the commitment of everyone in our company and our end-to-end approach to
sustainability.”

By committing to these sustainability targets, the company’s Better Planet
Packaging
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com%2Fsustainability%2Fbetter-planet-packaging-2020&esheet=52423475&newsitemid=20210504006395&lan=en-US&anchor=Better+Planet+Packaging&index=1&md5=89dc2e848b7d9873bf78c844f343e519)
portfolio of sustainable products will continue to help its customers to
deliver on their own short- and long-term sustainability goals. The company
recently showcased these innovative solutions to over 2,700 attendees at its
Better Planet Packaging 2021 virtual event.

To read more about Smurfit Kappa’s sustainability targets and achievements,
a summary of the Sustainable Development Report can be found here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com%2F-%2Fm%2Ffiles%2Fpublications---global%2Fsdr-2020-dowloads%2Fsdr-2020-report-highlights.pdf&esheet=52423475&newsitemid=20210504006395&lan=en-US&anchor=here&index=2&md5=10e0b7b3c0843df6563a3a5ce88d8044)
, with the full version available to download here
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.smurfitkappa.com%2Fsustainability%2Freport-2020&esheet=52423475&newsitemid=20210504006395&lan=en-US&anchor=here&index=3&md5=f14f3f2047656efc42e48346a7f0ca5d)
.

ENDS

Note to Editor:


 1. The Financial Stability Board created the Task Force on Climate-related
Financial Disclosures (TCFD) to improve and increase reporting of
climate-related financial information. The TCFD is committed to market
transparency and stability. (Source: 
https://www.fsb-tcfd.org/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.fsb-tcfd.org%2F&esheet=52423475&newsitemid=20210504006395&lan=en-US&anchor=https%3A%2F%2Fwww.fsb-tcfd.org%2F&index=4&md5=61a56757c4523718e2299a101fd9ccf2)

)

 2. The Sustainability Accounting Standards Board (SASB) is an independent
nonprofit organisation that sets standards to guide the disclosure of
financially material sustainability information by companies to their
investors. SASB Standards identify the subset of environmental, social, and
governance (ESG) issues most relevant to financial performance in each of 77
industries. (Source: 
https://www.sasb.org/
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.sasb.org%2F&esheet=52423475&newsitemid=20210504006395&lan=en-US&anchor=https%3A%2F%2Fwww.sasb.org%2F&index=5&md5=57df2986f00b1b794c2bdbbb7034aa86)

)

Media contact:

Nicki Labram

Smurfit Kappa

T: +353 87 164 4672

E: nicki.labram@smurfitkappa.com (mailto:nicki.labram@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 46,000
employees in over 350 production sites across 35 countries and with revenue of
€8.5 billion in 2020. We are located in 23 countries in Europe, and 12 in
the Americas. We are the only large-scale pan-regional player in Latin
America.

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.

Our products, which are 100% renewable and produced sustainably, improve the
environmental footprint of our customers.

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