Berry Global Commits to Reducing Scope 3 Emissions by 25% by 2025

Rhea-AI Summary

Berry Global Group, Inc. (NYSE:BERY) has exceeded its initial target by achieving an 8% reduction in Scope 3 greenhouse gas emissions ahead of schedule. The company now aims for a 25% reduction by 2025, based on 2019 levels. This new target is validated by the Science Based Targets initiative and aligns with Berry's existing Scope 1 and 2 commitments. Berry also plans to achieve 100% reusable, recyclable, or compostable packaging by 2025 and 30% circular plastic use by 2030. These efforts underscore Berry’s commitment to sustainability and supporting its customers’ climate goals.

Positive

• Achieved an 8% reduction in Scope 3 emissions ahead of schedule.
• New target of 25% reduction in Scope 3 emissions by 2025.
• Commitment to sustainable packaging goals: 100% reusable, recyclable, or compostable by 2025.

Negative

• None.

EVANSVILLE, Ind.--(BUSINESS WIRE)-- Surpassing its initial goal of an 8% reduction in Scope 3 greenhouse gas (GHG) emissions four years ahead of schedule, Berry Global Group, Inc. (NYSE:BERY) commits to reducing its absolute Scope 3 GHG emissions 25% by 2025 (from the same 2019 baseline).

The new Scope 3 target is aligned with Berry’s existing Scope 1 and 2 commitments and validated by the Science Based Targets initiative (SBTi). SBTi approval confirms Berry’s ambitious value chain goal is in line with current best practice and consistent with actions required to help limit warming to 1.5°C and prevent the most damaging effects of climate change.

“Climate change is one of the greatest challenges of our time. And we are committed to advancing the transition to a net-zero economy,” said Robert Flores, Berry Global’s Vice President of Sustainability. “Quickly surpassing and increasing our Scope 3 emissions target is a testament to Berry Global’s hard work, dedication, and collaboration across the plastics value chain to significantly reduce emissions.”

Berry’s efforts to minimize the environmental impact of its operations, including more efficient use of energy and water as well as increased renewable energy, are critical to the success of the Company’s Impact 2025 sustainability strategy. The Company has also set sustainable packaging goals to achieve 100% reusable, recyclable, or compostable fast-moving consumer packaging by 2025 and 30% circular plastic use across its fast-moving consumer goods packaging by 2030. Circular plastics include recycled and renewable resins like bioplastics.

“As sustainability rightfully becomes more of a priority for our customers, reducing supply chain emissions is critical to helping them achieve their climate goals,” said Tarun Manroa, Berry Global’s EVP Chief Strategy Officer and Head of Global Purchasing. “This new target reinforces our alignment with a net zero economy and providing solutions for our customers’ sustainability commitments.”

The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Initiative, and World Wildlife Fund that defines and promotes best practice in science-based target setting and independently assesses companies’ emissions reduction targets.

"We congratulate Berry Global on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Alberto Carrillo Pineda, Managing Director, Science Based Targets at CDP, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Berry Global is taking action to prevent the most damaging effects of climate change."

About Berry

At Berry Global Group, Inc. (NYSE: BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of 47,000 global employees across more than 300 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website, or connect with us on LinkedIn or Twitter. (BERY-E)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220512006082/en/

Berry Media Contact:

Eva Schmitz

mediarelations@berryglobal.com

Source: Berry Global Group, Inc.

FAQ

What is Berry Global's new emissions reduction target?

Berry Global aims to reduce its Scope 3 greenhouse gas emissions by 25% by 2025.

What was Berry Global's initial emissions reduction goal?

Berry Global's initial goal was to achieve an 8% reduction in Scope 3 emissions.

How does Berry Global's emissions reduction plan align with climate goals?

Berry's targets are validated by the Science Based Targets initiative, aligning with efforts to limit global warming to 1.5°C.

What are Berry Global's sustainability goals for packaging?

Berry Global aims for 100% of its fast-moving consumer packaging to be reusable, recyclable, or compostable by 2025.

How does Berry Global plan to incorporate circular plastics?

Berry Global plans to incorporate 30% circular plastic use in its fast-moving consumer goods packaging by 2030.