Statement re SBTi approval for carbon reduction...

Statement re SBTi approval for carbon reduction targets

Smurfit Kappa Group PLC

Smurfit Kappa receives SBTi approval for carbon reduction targets

Smurfit Kappa Group plc ('Smurfit Kappa' or ‘the Group’) has had its emissions reduction targets approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement. The targets covering greenhouse gas emissions from Smurfit Kappa’s operations (scopes 1 and 2) are consistent with reductions required to keep global warming to well-below 2°C.

The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) which defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

The initiative mobilises companies to set science-based targets in the transition to a low-carbon economy. Emission reduction targets are considered ‘science-based’ when their CO₂ reduction targets are in line with what the latest climate science says is needed to meet the goals of the Paris Agreement.

SBTi approval is the latest validation of Smurfit Kappa’s leadership in sustainability in the paper-based packaging sector. In 2020 the company was the first in the industry to announce its target of at least Net Zero fossil emissions by 2050 and also introduced ambitious new sustainability targets under its Better Planet 2050 initiative. Smurfit Kappa was also the first FTSE 100 company to receive 5 stars from “Support the Goals” in recognition of its support of the United Nations’ Sustainable Development Goals, building on the company’s leading performance across third party rating companies such as MSCI, ISS ESG and Sustainalytics.

Tony Smurfit, Group CEO, said: "The SBTi validation builds on our well-established sustainability credentials and is an extremely positive development for Smurfit Kappa and all our stakeholders. The world must move to circular business activities with low carbon emissions. SBTi is further evidence of our ability to deliver on this goal, and for our customers, through our increasingly sustainable operating footprint and packaging solutions.

“Sustainability is at the heart of all our operations, and we have a long-term commitment to protect the planet, its people and all our stakeholders.”

Garrett Quinn, Chief Sustainability Officer at Smurfit Kappa, added: “In Smurfit Kappa we focus on long-term ambition coupled with action and delivery today. The strength of our continued delivery across our sustainability metrics has been further underlined by SBTi’s approval.

“Since starting our corporate sustainability reporting journey over 15 years ago, we have been collaborating with like-minded organisations to tackle critical issues such as climate change, waste reduction and water scarcity.

“SBTi approval provides us with a solid foundation to build towards our Better Planet 2050 targets and plays an increasingly important part in the delivery of our customers’ sustainability goals.

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

ENDS

Contact for media:

Sinead Gill
Smurfit Kappa
T: [phone]
E: [e-mail]

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 36 countries and with revenue of €8.5 billion in 2020. 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 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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www.smurfitkappa.com

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC).

The SBTi champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. Offering a range of target-setting resources and guidance, the SBTi independently assesses and approves companies’ targets in line with its strict criteria.

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