Board Converting News, July 5, 2021

Diamond Packaging To Purchase Carbon Offsets To Reduce Footprint Rochester, New York based Diamond Packaging has an- nounced a multi-year commitment to purchase carbon off- sets through Climate Action Reserve (CAR) to reduce its carbon footprint. Diamond’s support of high-quality carbon offset projects will help foster reductions in greenhouse gas (GHG) pollution, support activities that reduce local air pollution, spur growth in new green technologies, and al- low emission reduction goals to be met at lower cost. With the purchase, Diamond is taking a significant step on the path to carbon neutral by offsetting its Scope 1 emis- sions. Its Scope 2 emissions are already offset through its long-term commitment to wind energy. Scope 1 emissions are “direct emissions” from sources that are controlled or owned by an organization (e.g., emis- sions associated with fuel combustion in boilers, furnaces, and vehicles). Scope 2 emissions are “indirect” emissions associated with the purchase of electricity, steam, heat, or cooling. They are two of three scopes in determining an organization’s total greenhouse gas inventory. Diamond’s continued commitment to reduce car- bon emissions and mitigate the business risks of climate change is addressed with science-based targets when measuring its Scope 1 and Scope 2 emissions. The com- pany has established both absolute and intensity targets

against a baseline, and these are being achieved through operational factors, including more efficient production, sophisticated HVAC controls, and energy saving methods. As a result of this initiative, Diamond facilities are now carbon neutral (covering Scope 1 and Scope 2 emissions), with ongoing progress towards evaluating Scope 3 emis- sions, which include “indirect emissions” both upstream and downstream of the organization’s activities. Diamond’s carbon offset purchase is a natural evolu- tion of its industry-leading greenbox sustainability initiative to research, design, and implement packaging solutions that are innovative and more sustainable. The core of the initiative – designs, materials, and meth- ods – represents a comprehensive approach to packag- ing that minimizes environmental impact throughout the supply chain. Through creative design, careful material selection, and best practices at the plant level, Diamond is able to minimize waste, reduce shipping costs, and in- crease efficiencies – all of which support a sustainable use of resources and cultivate a positive emotional connection to the brand. Today, Diamond’s packaging is designed utilizing recy- clable or recycled paperboards (many FSC-certified), and manufactured using 100 percent clean, renewable wind energy, in a Zero Waste to Landfill (ZWL) and Carbon Neu- tral (Scope 1 and Scope 2) facility. For more information on Diamond Packaging’s carbon offset inititaives, visit www.diamondpackaging.com .

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July 5, 2021

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