Ardagh Metal Packaging Announces Approval of Science Based Targets to Reduce Greenhouse Gas Emissions

Rhea-AI Summary

Ardagh Metal Packaging (AMBP) has received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emission reduction targets. The company aims to reduce absolute scope 1 and 2 GHG emissions by 42% and scope 3 emissions by 12.3% by 2030, aligning with the Paris Climate Agreement. This milestone highlights AMBP's dedication to sustainability and enhancing its customers' environmental efforts. The company operates 24 facilities worldwide, employing over 5,000 people and generating approximately $4.1 billion in sales.

Positive

• Approval of GHG emission reduction targets by SBTi, indicating a strong commitment to sustainability.
• Target to reduce scope 1 and 2 emissions by 42% and scope 3 by 12.3% by 2030 enhances environmental credibility.
• Supports global climate goals, including the Paris Agreement's objective of net zero emissions by 2050.

Negative

• None.

LUXEMBOURG, Aug. 25, 2022 /PRNewswire/ -- Ardagh Metal Packaging S.A. (AMP) (NYSE: AMBP) a leading global supplier of infinitely recyclable metal beverage cans, received approval from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emission reduction targets. 

SBTi has approved AMP's plan to reduce absolute scope 1 and 2 GHG emissions by 42% as consistent with achieving a trajectory to limit global warming to 1.5 degrees Celsius. The plan to reduce absolute scope 3 by 12.3% by 2030 meets the SBTi's criteria for ambitious value chain goals and is in line with best practice. This supports the United Nations and Paris Climate Agreement of 2015 objective of net zero emissions by 2050.

This achievement by AMP is indicative of the company's commitment to building on the beverage can's already strong sustainability characteristics of leading recycling and recycled content rates. "We're focused on further strengthening our customers' own environmental performance and emission reductions strategies when they choose AMP beverage cans," said Jennifer Cumbee, Chief Sustainability Officer, AMP. "This SBTi approval is another step on the journey, serving as a positive example in the communities we do business in as we help to create a circular economy with recycling excellence."

This latest sustainability news from AMP follows the publication of its Green Bond Report which is available here. For more information regarding AMP's sustainability initiatives, please click here.

Notes to the editor

Ardagh Metal Packaging is a leading supplier of sustainable and infinitely recyclable beverage cans globally. Ardagh Metal Packaging operates 24 production facilities in nine countries, employing more than 5,000 people with sales of approximately $4.1bn.

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) which defines and promotes best practice in emission reductions and net-zero targets in line with climate science and independently assesses and validates companies' targets.

 

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SOURCE Ardagh Metal Packaging S.A.

FAQ

What are Ardagh Metal Packaging's emission reduction targets?

Ardagh Metal Packaging aims to reduce absolute scope 1 and 2 GHG emissions by 42% and scope 3 emissions by 12.3% by 2030.

When did Ardagh Metal Packaging receive SBTi approval?

Ardagh Metal Packaging received SBTi approval on August 25, 2022.

How does Ardagh Metal Packaging's sustainability efforts align with global goals?

The company's efforts support the United Nations and Paris Agreement's objective of achieving net zero emissions by 2050.

What is the significance of SBTi approval for Ardagh Metal Packaging?

The SBTi approval validates AMBP's commitment to ambitious sustainability targets, enhancing its reputation in the market.

What other sustainability initiatives has Ardagh Metal Packaging undertaken?

AMP has published its Green Bond Report and is focused on enhancing recycling and environmental performance for its customers.