FINLAND – Huhtamaki has been recognized as a Climate Leader in Europe by the prestigious Financial Times, an honor reserved for top-tier European companies with revenues exceeding €40 million (US$43.45m).
The Climate Leader Award, a prestigious accolade, is not easily earned. It is bestowed upon companies that have made significant strides in reducing their Scope 1 and 2 emissions intensity over a five-year period. Huhtamaki’s inclusion on this list is a testament to its dedication to sustainability.
Huhtamaki’s inclusion on this list was driven by the validation of its climate targets by the Science Based Targets initiative (SBTi) and its strong CDP Climate score.
Notably, achieving a CDP Climate score of at least B- is mandatory for inclusion, and Huhtamaki surpassed this threshold with a B rating.
Huhtamaki’s commitment to reducing emissions has been unwavering and fruitful. Between 2017 and 2022, the company achieved a significant 9.5% decrease in emissions intensity overall and an 8.9% reduction in core emissions.
These achievements, reflected in a score of 63.8 points from the Financial Times, are a testament to Huhtamaki’s effective sustainability efforts.
Despite increasingly stringent criteria, maintaining its B rating from CDP over the past three years, underscores Huhtamaki’s dedication to sustainability.
“Our global ranking is a testament to our ongoing commitment to sustainability. However, it also reminds us that our journey towards climate leadership is ongoing,” states Huhtamaki.
“In recent years, we have focused on further reducing our emissions through Virtual Power Purchase Agreements and other renewable electricity projects. We remain committed to reducing our Scope 1 and 2 emissions through additional renewable electricity projects.”
Last month, the company announced the closure of its production facility in Port Klang, Malaysia, as part of its strategy to consolidate its production footprint.
This consolidation effort aims to combine production within the Fiber Foodservice Europe-Asia-Oceania segment and is scheduled for completion by the end of the second quarter (Q2) of 2024.
The company emphasizes that this strategic move will streamline its manufacturing footprint, enhance competitiveness, and lay a stronger foundation for future growth in the Asia Pacific region.
Despite the closure of the Port Klang facility, Huhtamaki remains committed to serving the region through its distribution centers in Malaysia and Thailand, along with a sales office in Singapore.
Regrettably, this decision will impact 93 employees. Huhtamaki has pledged to provide comprehensive support to these affected individuals during the transition.
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