Report highlights Novolex's progress towards ambitious ESG commitments and details expanded new target for greenhouse gas reductions
HARTSVILLE, S.C., July 26, 2022 /PRNewswire/ -- Novolex® released its fourth annual sustainability report today, detailing progress towards its greenhouse gas reduction target and other environmental, social and governance (ESG) commitments.
The 2021 Novolex Sustainability Report highlights Novolex's expanded new target for greenhouse gas (GHG) reductions from operations — 30% by 2030. The new goal came after the company in 2021 met its original commitment to reduce GHG emissions by 2025. Emissions-related data were verified by a third party.
This year's report also includes a new metric, aligned with Sustainability Accounting Standards Board guidance, sharing that 78% of applicable revenues derive from products that can be recycled, composted or reused.
"Our 2021 report underscores how Novolex continues to make important strides towards our ambitious ESG goals," said Stan Bikulege, Novolex Chairman and CEO. "Sustainability, innovation and choice are the foundation of everything we do at Novolex. Working together every day, our 10,000 employee families are meeting the needs of a changing world and shaping the future of the packaging industry for the better."
The 2021 report covers numerous topics, including raw material sourcing, health and safety, energy use and emissions, diversity, equity and inclusion, and employee and supply chain responsibility. Among the highlights, the report details Novolex's industry-leading capabilities in the use of renewable and recycled content in 2021, noting:
- Over three-quarters (78%) of applicable Novolex revenues came from products that are recyclable, compostable or reusable.
- Nearly half (48%) of Novolex raw materials were from renewable, bio-based or post-consumer recycled (PCR) sources.
- Just over half (51%) of all fiber used in Novolex's products was post-consumer recycled content, representing a 5% improvement since 2019.
- 28% of all resin was recycled content, and another 2% was bio-based resin made from renewable resources, the first time this metric was reported by the company.
The 2021 report also notes that Novolex continues to improve the end-of-life options for products. In 2021, Novolex added to its portfolio of compostable and recyclable products by acquiring Vegware, a leader in compostable foodservice packaging based in Europe; and Flexo Converters, a manufacturer of paper bags and packaging.
In addition, Novolex continues to expand its manufacturing capacity for products such as cold beverage cups made with polylactic acid (PLA), a plastics polymer derived from starch-based plants such as corn, sugarcane and wheat straw. After use, products made with PLA are compostable in commercial composting facilities.
Novolex develops and manufactures diverse packaging products for multiple industries in the foodservice, delivery and carryout, food processor and industrial markets that touch nearly every aspect of daily life. The Novolex family of brands provides customers with innovative food and delivery packaging and performance solutions products for their business needs today while investing in research and development to engineer more sustainable choices for the future. With more than 10,000 employee families, Novolex operates 57 manufacturing facilities in North America and Europe, including two world-class plastic film recycling centers. To learn more about Novolex, visit www.novolex.com.