Crown Recognized As Leader By CDP For Supplier Engagement In Managing Climate Risk

YARDLEY, Pa., Feb. 18, 2021 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) has been identified as a global leader for its actions and strategies to reduce emissions and manage climate risks in its supply chain. CDP, a leading global environmental impact non-profit organization, has awarded Crown a Supplier Engagement Rating (SER) of A as part of its annual climate change assessment of companies globally. This rating earns Crown a spot on the 2020 Supplier Engagement Leaderboard and puts the Company in the top 7% of 8,033 companies assessed by CDP.

The SER provides a rating for how effectively companies engage their suppliers on climate change. CDP assessed performance on supplier engagement using a company's response to select questions on governance, targets, Scope 3 emissions and value chain engagement in the CDP Climate Change 2020 questionnaire.

Climate Action is one of five central pillars of action under Crown's Twentyby30 sustainability strategy. As part of its commitments in this area, the Company has pledged to reduce absolute greenhouse gas emissions (GHGs) from its supply chain (Scope 3) by 16% by 2030 from a 2019 baseline. To achieve this goal, Crown is joining together with suppliers to reduce the GHG footprint of materials (focused on steel and aluminum, coatings and varnishes) and its capital goods, therefore streamlining downstream logistics, distribution and transportation and reducing fuel consumption and mileage.

"Climate change is the most significant risk of our time," stated John Rost, Ph.D., Vice President, Global Sustainability and Regulatory Affairs at Crown. "Corporate action to reduce GHG emissions will have a meaningful impact on the fight against climate change, but no company can do it alone. Data from CDP shows that a company's supply chain emissions are over 11.4 times greater than its direct emissions on average, so it is critical that we look at ways we can work with our suppliers around the world to advance our collective progress. For the last several years, we have been working hard to increase our activity and transparency when it comes to supplier engagement. This recognition from CDP demonstrates that we have taken notable strides toward that objective."

Crown's inclusion on the 2020 CDP Supplier Engagement Leaderboard is the latest recognition for the Company's sustainability efforts. In October 2020, Crown was named as one of the 100 most sustainably managed companies in the world by The Wall Street Journal. Crown was also included in the publication's list of the 10 best companies at managing environmental risk and was the only U.S.-based company on the list. Sustainalytics, the environmental, social and governance (ESG) ratings provider, ranked Crown as the number one low-risk organization of 48 reviewed companies operating in the metal and glass packaging sector in 2020. Crown placed in the top 1.4% of scores within Sustainalytics' total research universe of more than 12,500 companies.

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

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SOURCE Crown Holdings, Inc.