Crown Elevates Emissions Reduction Initiatives By Signing The Climate Pledge

Rhea-AI Summary

Crown Holdings (NYSE: CCK) announced its commitment to The Climate Pledge, aiming for net-zero carbon by 2040, ten years ahead of the Paris Agreement. This initiative involves collaboration with over 200 organizations, focusing on measurable greenhouse gas (GHG) emissions reductions. The company emphasizes the sustainability of metal packaging, which can preserve 70% to 90% of the energy used in production when utilizing recycled materials. Their 'Twentyby30' program establishes science-based targets to enhance production efficiency and reduce emissions.

Positive

• Crown is committed to net-zero carbon operations by 2040, which aligns with growing market emphasis on sustainability.
• Participation in The Climate Pledge enhances Crown's reputation as a leader in sustainability within the packaging industry.
• The use of metal packaging supports a circular economy, offering energy-efficient and recyclable solutions.

Negative

• None.

YARDLEY, Pa., Sept. 20, 2021 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) has announced it will take further action against climate change in conjunction with Amazon, Global Optimism and more than 200 other signatories through The Climate Pledge, a commitment to be net-zero carbon across business operations by 2040, 10 years ahead of the Paris Agreement.  Joining a cross-sector network of organizations collaborating to address the climate crisis and solve the challenges of decarbonizing the economy, Crown will lend its bold Twentyby30 sustainability commitments, responsible business strategies and best practices to the community to achieve actionable results.

As part of The Climate Pledge platform, participating organizations must commit to three principal areas of action to advance the goal of reaching net-zero carbon by 2040.  Expected to measure internal greenhouse gas (GHG) emissions and issue reports on a regular basis, The Climate Pledge signatories will implement operational changes and technologies that prioritize GHG reduction and elimination strategies.  Additionally, each member of the network must neutralize and offset remaining emissions to ensure that net-zero can be achieved.

"To decrease global GHG emissions at the rate needed to reach net-zero by 2040, it's crucial for the packaging sector to take aggressive action," said Timothy J. Donahue, President and Chief Executive Officer of Crown.  "Crown has seen – in our lifetime – the key benefits and impact of metal as a sustainable packaging material.  Our decision to engage and grow with members of The Climate Pledge is the natural next step as we work with our stakeholders, consumers and peers to reduce emissions and fight climate change."

Crown's premier, sustainable solution of metal packaging plays an increasingly important role in decarbonizing production cycles for packaging manufacturers.  The recyclable material provides manufacturers with a responsible, energy-efficient asset for participation in a circular economy, as the chemical makeup of metal allows it to be recaptured and easily and infinitely repurposed without degrading the value of the material.

Investing in, producing and subsequently recapturing metal packaging not only extends the lifecycle of a manufacturer's product, but it also reduces dependency on sourcing raw materials and the energy required to do so.  Producing metal packaging with recycled materials preserves 70% to 90% of the energy used for packaging made from raw materials, reducing manufacturing carbon emissions.  From the production line to the shelves of consumers and back again, Crown provides a wide range of industries with a desperately needed, energy-saving packaging solution.

"Solving this challenge cannot be accomplished by one company; it requires all of us to act together, and it's one of the reasons we're so excited to announce that more than 200 businesses have joined us in signing The Climate Pledge—a commitment to reach the goals of the Paris Agreement 10 years early," said Andy Jassy, Amazon CEO.

Through the Twentyby30 program, Crown has set science-based climate targets to reduce carbon emissions from the combustion of fossil fuels in operations, emissions generated from the production of non-renewable electricity and emissions sourced from the value chain.  The program's Climate Action pillar focuses on production efficiency, product and process innovation, strategic material procurement and utilization of renewable electricity.

To learn more about Crown's Twentyby30 program and commitments to reaching net-zero, please visit crowncork.com/sustainability.

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, Associate Vice President, FINN Partners; Tel: (212) 529-2634; Email: mallory.schindler@finnpartners.com

 

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SOURCE Crown Holdings, Inc.

FAQ

What is Crown Holdings' commitment regarding climate change?

Crown Holdings commits to achieving net-zero carbon emissions by 2040 as part of The Climate Pledge.

How does Crown Holdings plan to reduce emissions?

Crown will measure internal greenhouse gas emissions and implement strategies to prioritize GHG reduction as part of its Twentyby30 program.

What is the significance of The Climate Pledge for Crown Holdings?

By joining The Climate Pledge, Crown Holdings aims to collaborate with over 200 organizations to accelerate climate action and enhance its sustainability efforts.

How does Crown Holdings' metal packaging contribute to sustainability?

Crown's metal packaging can be recycled multiple times, reducing the need for raw materials and saving energy in production.