SWITZERLAND – Amcor, a leader in sustainable packaging solutions, has released its Decarbonization Roadmap, detailing its strategy to reduce greenhouse gas (GHG) emissions.
The roadmap introduces a ‘4 + 1’ decarbonization strategy, which focuses on renewable electricity, supply chain sustainability, recycled content, and product redesign. The ‘+1’ component is dedicated to enhancing operational efficiency.
The company is committed to transitioning to renewable electricity sources and collaborating with suppliers to meet sustainability standards and achieve its decarbonization goals.
Amcor also aims to increase the use of recycled materials in its products and innovate designs to minimize their carbon footprint.
The ‘+1’ lever targets scope 3 emissions, encompassing waste and water management, energy efficiency, and equipment electrification.
Amcor’s new decarbonization targets are aligned with the latest climate science, which aims to limit global temperature rise to 1.5°C. The Science Based Targets initiative (SBTi) has validated these targets.
Peter Konieczny, Amcor’s interim CEO, stated, “Sustainability is a constant motivation for everyone at Amcor. We want the environment to be better off because of our leadership and products.
“We have successfully reduced our carbon footprint for years, and this Decarbonization Roadmap will help us, and our partners make faster and more lasting progress.”
Amcor has been monitoring and reporting on its operations’ environmental impacts since 2008. In the financial year 2023 (FY23), the company achieved several significant milestones, including 22 Amcor sites reaching 100% renewable electricity use and a 10.2% reduction in absolute GHG emissions compared to FY22.
The company also reported a 54.6% reduction in absolute scope 1 and 2 GHG emissions from the 2022 baseline year and a 244% increase in renewable electricity use compared to FY22.
Additionally, Amcor highlighted that 95% of its rigid packaging, by weight, is recyclable in practice and at scale.
Despite these achievements, Amcor recently announced a 7% decline in net sales for FY24, dropping to US$13.64 billion from US$14.69 billion in the previous year.
Multiple factors affected the company’s net sales, including a 1% favourable impact from foreign exchange rate movements and a 1% unfavourable impact from items affecting comparability.
Additionally, the pass-through of lower raw material costs, amounting to approximately $220m, contributed to a 1% negative impact.
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