Crown Becomes First Metal Packaging Manufacturer to Activate Renewable Power in 100% of its U.S. and Canadian Beverage Can Plants

Rhea-AI Summary

Crown Holdings, Inc. (CCK) announced its achievement of operating all 14 beverage can plants in the U.S. and Canada on 100% renewable energy, marking a first in the metal packaging industry. This transition is supported by a 15-year Virtual Power Purchase Agreement (VPPA) with Longroad Energy, generating over 440,000 MWhs of electricity annually. As part of its sustainability goals, Crown aims for 60% renewable electricity by 2030, 90% by 2040, and 100% by 2050, alongside a 50% reduction in Scope 1 and Scope 2 greenhouse gas emissions. The initiative will help prevent over 310,000 metric tons of carbon emissions each year.

Positive

• First in the metal packaging industry to operate all U.S. and Canadian beverage plants on renewable energy.
• 15-year VPPA with Longroad Energy generates over 440,000 MWhs of renewable electricity annually.
• Supports Crown's goal of achieving 60% renewable electricity by 2030 and full transition by 2050.

Negative

• None.

YARDLEY, Pa., Nov. 20, 2020 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) is now operating all 14 of its beverage can plants in the U.S. and Canada on renewable energy. It is the first metal packaging manufacturer to achieve this milestone, which is the result of a 15-year wind power Virtual Power Purchase Agreement (VPPA) with Longroad Energy. With the VPPA in effect and all of Crown's manufacturing facilities in the U.K. already completing a similar transition, 27.5% of the Company's global operations are now using renewable electricity.

This accelerated usage of alternative power sources serves as a major step in Crown's plan to employ 60% renewable electricity by 2030, 90% by 2040 and 100% by 2050—targets established in Crown's Twentyby30 initiative, a comprehensive sustainability program that addresses climate issues among other areas of urgent global concern. The action also supports Crown's Twentyby30 goal to decrease Scope 2 greenhouse gas (GHG) emissions within its global operations, targeting a 50% combined reduction in absolute Scope 1 (fuel) and Scope 2 (electricity) emissions. The transition reflects Crown's commitment to the RE100, which is led by The Climate Group and CDP and focuses on accelerating the transition to zero carbon grids at global scale.

Relying on a Texas-based wind farm, the VPPA generates more than 440,000 MWhs of electricity, helping prevent over 310,000 metric tons of carbon emissions each year—the equivalent to taking at least 67,000 passenger vehicles off the road for one year. The renewable power offsets 100% of the energy usage within Crown's U.S. and Canadian beverage plants, which account for over 20% of the Company's global Scope 2 greenhouse gas emissions.

"This VPPA, which makes us the first in our industry to complete an energy transition for all U.S. and Canadian beverage can manufacturing facilities, is a major milestone on our journey to utilize 100% renewable electricity by 2050 and will play a critical role in reducing GHG emissions from our operations," stated John Rost, Ph.D., Vice President, Global Sustainability and Regulatory Affairs at Crown. "Making a pledge to the RE100 initiative, setting science-based emission reduction targets and now implementing wind power across our U.S. and Canadian beverage plants—these are all actions we view as critical for driving measurable progress against climate change for our planet."

Crown will continue to report progress against its journey to using 100% renewable electricity via www.crowncork.com/sustainability and its biennial sustainability reports.

About Crown Holdings, Inc. 

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Yardley, Pennsylvania. For more information, visit www.crowncork.com.

For more information, contact sustainability@crowncork.com.

For editorial inquiries: Mallory Schindler, Account Supervisor, FINN Partners; Tel: (212) 529-2634; Email: mallory.schindler@finnpartners.com

View original content:http://www.prnewswire.com/news-releases/crown-becomes-first-metal-packaging-manufacturer-to-activate-renewable-power-in-100-of-its-us-and-canadian-beverage-can-plants-301178165.html

SOURCE Crown Holdings, Inc.

FAQ

What significant milestone did Crown Holdings (CCK) announce on November 20, 2020?

Crown Holdings announced it is operating all 14 beverage can plants in the U.S. and Canada on 100% renewable energy.

What is the purpose of the Virtual Power Purchase Agreement (VPPA) Crown signed?

The VPPA supports Crown's transition to renewable energy by generating over 440,000 MWhs of electricity annually.

What are Crown Holdings' renewable energy targets for the future?

Crown targets 60% renewable electricity by 2030, 90% by 2040, and 100% by 2050.

How does Crown Holdings plan to reduce greenhouse gas emissions?

Crown aims for a 50% reduction in absolute Scope 1 and Scope 2 greenhouse gas emissions through its sustainability initiatives.

What environmental impact does the renewable energy usage at Crown's plants have?

The transition offsets over 310,000 metric tons of carbon emissions annually, equivalent to removing 67,000 vehicles from the road.