Aptar Surpasses Emissions Reduction Goals and Issues Updated Science-Based Targets in Line with 1.5°C Climate Ambition

Rhea-AI Summary

AptarGroup, Inc. (NYSE: ATR) has updated its science-based targets for emissions reduction, aligning with a goal to limit global temperature rise to 1.5° Celsius by 2030. Originally set in 2020 to align with a well below 2°C scenario, the targets have been revised to demonstrate increased ambition. The company aims to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 82% and Scope 3 emissions by 14% by 2030, using 2019 as the base year. Additionally, Aptar plans to source 100% renewable electricity by 2030. These commitments have been validated by the Science Based Targets initiative (SBTi). Aptar emphasizes its commitment to sustainability through innovative practices.

Positive

• Updated targets align with the 1.5°C scenario, indicating a stronger commitment to sustainability.
• Aptar aims to reduce Scope 1 and 2 GHG emissions by 82% by 2030 from a 2019 base year.
• Commitment to increasing sourcing of renewable electricity from 57% in 2019 to 100% by 2030.

Negative

• None.

CRYSTAL LAKE, Ill.--(BUSINESS WIRE)-- AptarGroup, Inc. (NYSE: ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions and services, announced today that it has updated its Scope 1 and 2 science-based targets, setting an emissions reduction goal consistent with requirements to limit global temperature rise to 1.5° Celsius by year 2030.

Graphic: Science Based Targets

In 2020, Aptar formalized its original science-based targets (SBTs), setting a Scope 1 and Scope 2 emissions reduction goal consistent with well below 2° Celsius (WB2°C); a renewable electricity target and a Scope 3 target in alignment to 2°C – all by 2030.

In 2021, Aptar significantly surpassed the original goals for emissions reduction to the WB2°C scenario and as a result, the Company has worked to update these goals to be more ambitious. Today, Aptar is proud to announce that its Scope 1 and 2 absolute emissions reduction targets align to the 1.5°C scenario and have been validated by the Science Based Targets initiative (SBTi).

“Driven by purpose, we continuously innovate to meet the world’s evolving sustainability needs in more efficient and effective ways,” said Beth Holland, Vice President, Global Sustainability. “We partner with our suppliers and customers to enable consumers to recycle more plastic, we introduce recycled materials in our products where possible, we frequently identify opportunities to reduce greenhouse gas emissions in our operations and we source renewables where available.”

Aptar’s updated targets approved by the SBTi are:

• Aptar commits to reduce absolute Scope 1 and 2 GHG emissions 82% by 2030 from a 2019 base year
• Aptar commits to reduce absolute Scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution, waste generated in operations, and downstream transportation and distribution 14% by 2030 from a 2019 base year
• Aptar also commits to increase annual sourcing of renewable electricity from 57% in 2019 to 100% by 2030

Aptar’s carbon transition plan includes actions that align with climate science and support the transition to a low-carbon economy. In addition, Aptar developed an ISO 14064 compliant energy management system to map global greenhouse gas emissions and ensure accurate carbon accounting and reporting.

The Science Based Targets initiative is a collaboration between the CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets.

This press release contains forward-looking statements. Expressions or future or conditional verbs such as “will” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the regulatory environment; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Aptar

Aptar is a global leader in the design and manufacturing of a broad range of drug delivery, consumer product dispensing and active material science solutions and services. Aptar’s innovative solutions and services serve a variety of end markets including pharmaceutical, beauty, food, beverage, personal care and home care. Using insights, proprietary design, engineering and science to create dispensing, dosing and protective technologies for many of the world’s leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has 13,500 dedicated employees in 20 countries. For more information, visit www.aptar.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230315005789/en/

Investor Relations Contact:

Mary Skafidas

mary.skafidas@aptar.com

+1 347 351 6407

Media Contact:

Katie Reardon

katie.reardon@aptar.com

815-479-5671

Source: AptarGroup, Inc.

FAQ

What new targets has AptarGroup announced for 2023?

AptarGroup has announced updated targets to reduce absolute Scope 1 and 2 GHG emissions by 82% and Scope 3 emissions by 14% by 2030.

How does AptarGroup's emissions reduction goal compare to previous targets?

Previously, Aptar's targets were aligned with a well below 2°C scenario, and they have now been updated to align with a 1.5°C scenario.

What is AptarGroup's plan for renewable electricity sourcing?

AptarGroup plans to increase its sourcing of renewable electricity from 57% in 2019 to 100% by 2030.

When was AptarGroup's original emissions reduction goal set?

AptarGroup's original emissions reduction goal was set in 2020.

Which organization validated AptarGroup's updated targets?

The updated targets have been validated by the Science Based Targets initiative (SBTi).