Amcor publishes Decarbonization Roadmap

Rhea-AI Summary

Amcor (NYSE: AMCR, ASX:AMC), a global leader in responsible packaging solutions, has published its Decarbonization Roadmap to reduce greenhouse gas emissions. The roadmap, aligned with the Science-Based Targets initiative (SBTi), focuses on five key areas: product redesign, increased use of recycled content, transition to renewable electricity, supply chain collaboration, and operational efficiency enhancements.

In fiscal year 2023, Amcor achieved significant progress, with 22 sites reaching 100% renewable electricity use and a 10.2% reduction in absolute GHG emissions compared to FY22. The company also increased its renewable electricity use by 244% year-over-year. This roadmap demonstrates Amcor's ongoing commitment to sustainability and climate mitigation efforts.

Positive

• 22 Amcor sites achieved 100% renewable electricity use in FY23
• 10.2% reduction in absolute GHG emissions in FY23 compared to FY22
• 244% increase in renewable electricity use compared to FY22
• Decarbonization targets aligned with Science-Based Targets initiative (SBTi)

Negative

• None.

ZURICH, Aug. 20, 2024 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, announced the publication of its Decarbonization Roadmap to reduce greenhouse gas (GHG) emissions. Amcor's targets are aligned with the latest climate science aiming to limit global temperature rise to 1.5 degrees Celsius and validated by the Science-Based Targets initiative (SBTi).

Amcor's Decarbonization Roadmap features "4 + 1" focus areas:

1. Product redesign: Innovating Amcor's product designs to lower their carbon footprint.
2. Recycled content: Increasing the use of recycled materials in Amcor's packaging solutions.
3. Renewable electricity: Transitioning to renewable sources to power its operations.
4. Supply chain collaboration: Partnering closely with suppliers to ensure they meet high sustainability standards and align with Amcor's decarbonization targets.

The "+1" area focuses on enhancing operational efficiency through actions such as improving water and waste management, boosting energy efficiency and upgrading equipment.

"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 been successfully reducing our carbon footprint for years and this Decarbonization Roadmap will help us and our partners make faster and longer-lasting progress," said Peter Konieczny, Amcor Interim Chief Executive Officer.

The publication of the Decarbonization Roadmap serves as another tangible expression of Amcor's commitment to sustainability and climate mitigation.

Amcor has been tracking and reporting on the environmental impacts of our operations since 2008. In fiscal year 2023 (FY23), 22 Amcor sites achieved 100% renewable electricity use and a 10.2% reduction in absolute GHG emissions compared to FY22. In addition, it increased its renewable electricity use by 244% compared to FY22.

Access the full Decarbonization Roadmap here.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated $13.6 billion in annual sales from operations that span 212 locations in 40 countries.  NYSE: AMCR; ASX: AMC

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SOURCE Amcor

FAQ

What are the main focus areas of Amcor's Decarbonization Roadmap?

Amcor's Decarbonization Roadmap features '4 + 1' focus areas: product redesign, increased use of recycled content, transition to renewable electricity, supply chain collaboration, and operational efficiency enhancements.

How much did Amcor (AMCR) reduce its greenhouse gas emissions in fiscal year 2023?

Amcor achieved a 10.2% reduction in absolute greenhouse gas emissions in fiscal year 2023 compared to the previous year.

What percentage increase did Amcor (AMCR) see in renewable electricity use in FY23?

Amcor increased its renewable electricity use by 244% in fiscal year 2023 compared to fiscal year 2022.

How many Amcor sites achieved 100% renewable electricity use in fiscal year 2023?

In fiscal year 2023, 22 Amcor sites achieved 100% renewable electricity use.