Crown Holdings Supports Europe’s Packaging & Packaging Waste Regulation

Rhea-AI Summary

Crown Holdings has expressed support for the European Union's new Packaging & Packaging Waste Regulation (PWR), which mandates that over 90% of beverage cans be collected separately by 2029. This regulation is part of a broader set of legislative measures aimed at promoting sustainability in the EU. Additionally, other significant acts have been passed, including the Net-Zero Industry Act (NZIA) to enhance EU production of decarbonization technologies, and the Corporate Due Diligence Directive (CDDD), which obligates firms to address human rights and environmental impacts throughout their supply chains. These measures align with the EU's goals of achieving zero air pollution by 2050 and fostering a greener, more competitive economy.

Positive

• Crown Holdings supports new EU regulations aiming for >90% separate collection of beverage cans by 2029, showing commitment to sustainability.
• The regulation aligns with broader EU goals of zero air pollution by 2050, promoting environmental responsibility.
• Other significant legislative measures passed this week include the Net-Zero Industry Act and Corporate Due Diligence Directive, which could enhance Crown Holdings' ESG (Environmental, Social, and Governance) profile.
• Emphasizing separate collection and recycling can potentially reduce Crown Holdings' future costs and improve operational efficiencies.
• Crown Holdings' proactive stance may enhance its reputation among environmentally conscious consumers and investors.

Negative

• The new regulations will likely require Crown Holdings to invest in new processes to meet the >90% separate collection target, leading to increased costs.
• Potential operational disruptions as the company adjusts to comply with new regulatory requirements.
• Increased compliance and reporting obligations may strain resources and impact profitability in the short term.
• Financial implications of adhering to the Corporate Due Diligence Directive (CDDD) affecting the entire supply chain could be significant.
• Failure to meet the new standards could result in penalties, negatively impacting the company’s financial health and stock performance.

NORTHAMPTON, MA / ACCESSWIRE / June 5, 2024 / Crown Holdings, Inc.

By Sandrine Duquerroy-Delesalle

With six weeks to go before the European Elections, MEPs have had a busy week in Strasbourg, with many texts on the agenda for the final plenary session of the legislature (2019-2024) !

Among the texts voted was the Packaging & Packaging Waste Regulation PWR. And even if it is not the final step in the legislative process, it signs the end of a long negotiating process ! Among the notable new obligations, Member States will need to ensure that >90% of beverage cans are collected separately by 2029 (via deposit-return systems or other solutions that ensure the collection target is met).

A lot of other important texts were adopted this week among which:

• The Net-Zero Industry Act NZIA to bolster EU production in technologies needed for decarbonisation,
• The new Corporate Due Diligence Directive CDDD, requiring firms and their upstream and downstream partners, including supply, production and distribution to prevent, end or mitigate their adverse impact on human rights and the environment,
• A new law to reduce air pollution in the EU to achieve a clean and healthy environment for citizens as well as zero air pollution by 2050.

An important week for the EU on its pathway to a cleaner, greener and more competitive future!

https://www.europarl.europa.eu/news/en/press-room/20240419IPR20589/new-eu-rules-to-reduce-reuse-and-recycle-packaging

View original content here.

View additional multimedia and more ESG storytelling from Crown Holdings, Inc. on 3blmedia.com.

Contact Info:
Spokesperson: Crown Holdings, Inc.
Website: https://www.3blmedia.com/profiles/crown-holdings-inc
Email: info@3blmedia.com

SOURCE: Crown Holdings, Inc.

View the original press release on accesswire.com

FAQ

What is the new EU Packaging & Packaging Waste Regulation (PWR)?

The PWR mandates that over 90% of beverage cans in the EU be collected separately by 2029, among other sustainability measures.

How does the PWR affect Crown Holdings (CCK)?

Crown Holdings supports the regulation, which will likely require them to invest in new processes for separate collection to meet the >90% target by 2029.

What other legislative measures were passed alongside the PWR?

Other measures include the Net-Zero Industry Act (NZIA) and the Corporate Due Diligence Directive (CDDD).

What is the goal of the Net-Zero Industry Act (NZIA)?

The NZIA aims to bolster EU production in technologies needed for decarbonization.

What are the implications of the Corporate Due Diligence Directive (CDDD) for companies?

The CDDD requires companies to address human rights and environmental impacts throughout their supply chains, which may increase compliance costs.

How does Crown Holdings' support for PWR align with its ESG goals?

Supporting the PWR aligns with Crown Holdings' commitment to sustainability and improving its Environmental, Social, and Governance (ESG) profile.

What are the potential financial impacts of the new EU regulations on Crown Holdings (CCK)?

The regulations could lead to increased costs due to new processes and compliance requirements, potentially impacting profitability in the short term.