Smurfit Kappa (Cont’d from Page 1)
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launched its Green Finance Framework, which was accompanied by a strong second party opinion with its product and circular business model being reported as a “significant contributor” to UN SDG 12 “Responsible consumption and production”. • In September, Smurfit Kappa launched its inau- gural green bond ,which was over-subscribed mul- tiple times and secured the lowest ever coupon for a corporate issuer of its credit rating, along with strong participation from “dark green” investors. • In December, Smurfit Kappa had its emissions reduction targets validated by the Science Based Target initiative (SBTi) as consistent with the objec- tives of the Paris Agreement, and well below 2°C.
Smurfit Kappa has published an enhanced dis- closure consistent with the Task Force on Cli- mate-Related Financial Disclosures (TCFD) recom- mendations in its 2021 Annual Report, including a comprehensive top-down identification and pro- cess review of climate-related risks and opportu- nities and an evaluation of the potential impact on Smurfit Kappa assets from physical and transition risks under different climate scenarios. Highlights from the 2021 SDR include: • Social projects received €4.9 million during 2021; • Reduction of 41.3 percent in fossil fuel emission intensity since 2005, or 6 percent year-on-year; • SBTi approval of its emission reduction targets in line with the Paris Agreement; • Reduction in water consumption of 6.2 percent year-on-year; and • Decrease in waste to landfill intensity of 29.2 percent since 2013, or 7 percent year-on-year. Smurfit Kappa continues to invest in sustainability to deliver on its long-term goals. One such example from 2021 was an investment of €11.5 million into a multi-fuel boiler at Smurfit Kappa’s Zülpich paper mill, which provides a more sustainable fuel source for generating steam and electricity.
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Greg Kishbaugh / 317-306-1060 / flexo@nvpublications.com
Robyn Smith / 910-553-4055 / rsmith@nvpublications.com
4 April 25, 2022 Flexo Market News
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