/C O R R E C T I O N -- Amcor/

Rhea-AI Summary

Amcor (NYSE: AMCR) has issued a correction to its 2024 Sustainability Report regarding post-consumer recycled (PCR) plastic usage. The company clarified it is on track to reach its 10% PCR plastics goal by fiscal year 2025, rather than having already achieved it. The report highlights significant sustainability achievements, including:

- Over 94% of flexible packaging portfolio has recycle-ready solutions
- 95% of rigid packaging is recyclable in practice
- 9% reduction in absolute greenhouse gas emissions vs FY23
- 14% renewable electricity usage (64% increase from previous year)
- Purchase of 224,000+ metric tons of recycled material

The company's net-zero targets have been approved by the Science Based Targets initiative, and they published a Decarbonization Roadmap outlining their path to net-zero by 2050.

In the news release, "Amcor released 2024 Sustainability Report highlighting key achievements and progress," issued on Oct. 18, 2024, by Amcor over PR Newswire, we are advised by the company that as of Oct. 23, 2024, the amounts of post-consumer recycled (PCR) plastic used in fiscal years 2024, 2023 and 2022 have been corrected. Amcor is on track to reach its goal of using 10% PCR plastics in fiscal year 2025. An earlier version of the 2024 report stated Amcor had already achieved it. Complete, corrected release follows:

Amcor released 2024 Sustainability Report highlighting key achievements and progress

ZURICH, Oct. 23, 2024 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, released today its 2024 Sustainability Report. The report shows significant achievements and continued progress in the company's sustainability aspirations.

In addition to having its safest year ever, more than 94% of Amcor's flexible packaging portfolio by area had a recycle-ready solution available, and 95% of rigid packaging by weight was recyclable in practice and at scale. Amcor also progressed on its goal of including 10% post-consumer recycled plastic by 2025 and purchased more than 224,000 metric tons of recycled material for its solutions.

Amcor Chief Executive Officer Peter Konieczny said, "Amcor has led the way in making incredible progress designing our products to be recyclable and more efficient, but design alone is not enough. Society needs consumer participation and infrastructure development to make circularity real—to make sure used packaging is not left in nature but recycled to become new packaging. Sustainability is at the heart of our company and drives a sense of purpose, inspiration and energy in everything we do."

Amcor's short-term and net-zero targets have been approved by the Science Based Targets initiative and the company published a Decarbonization Roadmap to share its approach to reach net-zero by 2050. In addition, the company achieved a 9% reduction in absolute greenhouse gas emissions compared to FY23. 14% of the electricity used was renewable, which represents a 64% increase compared to the previous year.

Amcor Chief Sustainability Officer David Clark added, "Amcor is committed to leading the packaging industry toward a circular society. We are ramping up our efforts in advocating for consistent and effective regulations, encouraging infrastructure development, and educating both customers and consumers. We can all contribute to a more sustainable future."

Read Amcor's 2024 Sustainability Report and discover more sustainable packaging solutions on Amcor.com.

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 
www.amcor.com I LinkedIn I YouTube

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SOURCE Amcor

FAQ

What percentage of Amcor's (AMCR) flexible packaging is recycle-ready in 2024?

According to Amcor's 2024 Sustainability Report, more than 94% of their flexible packaging portfolio by area has a recycle-ready solution available.

How much did Amcor (AMCR) reduce its greenhouse gas emissions in FY24?

Amcor achieved a 9% reduction in absolute greenhouse gas emissions compared to FY23.

What is Amcor's (AMCR) target for post-consumer recycled plastic usage by 2025?

Amcor aims to include 10% post-consumer recycled plastic in their products by fiscal year 2025.

What percentage of Amcor's (AMCR) electricity usage was renewable in 2024?

14% of Amcor's electricity usage was renewable in 2024, representing a 64% increase compared to the previous year.