IPG Demonstrates Packaging Leadership in 2022 Annual Sustainability Report

Rhea-AI Summary

IPG (Intertape Polymer Group) has released its 2022 sustainability report, highlighting its achievements and future commitments to sustainability. The report emphasizes IPG's dedication to responsible manufacturing, environmental stewardship, and the well-being of its workforce. IPG has expanded its Cradle to Cradle Certified product lines, increased its sales of certified products, and received the ENERGY STAR Partner of the Year award. The company has also made significant progress in reducing its carbon footprint, improving waste diversion rate, and prioritizing safety. IPG's commitment to diversity and inclusion and renewable energy utilization is evident in its actions.

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• IPG expanded its Cradle to Cradle Certified product lines and increased sales of certified products. The company received the ENERGY STAR Partner of the Year award for the eighth consecutive year. IPG significantly reduced its carbon footprint and improved its waste diversion rate. The company prioritized safety and saw a decrease in the total case incident rate. IPG reaffirmed its commitment to diversity and inclusion and made progress in renewable energy utilization.

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IPG Commits to Zero Waste, Zero Carbon, and Enhanced Sustainability Impact

SARASOTA, Fla., July 25, 2023 (GLOBE NEWSWIRE) -- IPG (Intertape Polymer Group) a leading manufacturer of packaging and protective solutions, has issued its 2022 sustainability report, unveiling the company’s achievements and reinforcing its future commitments to create a positive impact through materials and manufacturing. The report, titled 'Safe, Circular and Responsible,' underscores IPG's unwavering dedication to responsible manufacturing, environmental stewardship, and the well-being of its workforce by providing a detailed account of IPG’s sustainability efforts and areas for improvement.

"We are proud to reflect on the transformative year of 2022, which marked a significant milestone for IPG as we transitioned from a publicly traded to a privately held company through a strategic acquisition led by an affiliate of Clearlake Capital Group, L.P. in June 2022. This shift set the stage for a new chapter of growth and opportunity. I joined IPG in November, as the new CEO, and renewed our commitment to sustainability including the CEO Water Mandate, CEO Action for Diversity and Inclusion, and our steadfast support for the United Nations Global Compact," said Pete Durette, CEO of IPG. "Our resolve remains unyielding in our pursuit to minimize our environmental footprint, nurture the well-being of our valued employees and communities, and deliver sustainable products that seamlessly align with the evolving needs of our esteemed customers."

In 2022, IPG demonstrated a heightened dedication to customer-centricity and sustainability, upholding its commitment to ethical conduct. By prioritizing tangible actions instead of mere promises, the company bolstered its position as an industry leader through active pursuit of the Cradle to Cradle Certified^® Products Program. IPG's dedication to accountability and ambitious objectives were evident in its participation as a signatory to various agreements, which included the pursuit of zero waste manufacturing and the attainment of a net zero carbon footprint. These resolute endeavors solidify IPG's prominent standing at the forefront of sustainable practices.

"IPG takes immense pride in the significant strides made towards our commitments in product sustainability, fostering an inclusive workforce, and driving environmental stewardship throughout the past year," said Jay Bolus, VP of Sustainability at IPG. "Our dedication to tackling challenging goals has propelled us to not only advance existing initiatives but also embrace new endeavors in 2022. We recognize the demanding nature of these commitments and continuously explore innovative strategies to achieve them. At IPG, we firmly believe in maximizing the potential of every resource, optimizing clean and renewable energy utilization, and fostering a culture that celebrates diversity. These guiding principles underpin our actions as we persistently pursue a sustainable and inclusive future."

Highlights from the 2022 IPG Sustainability Report include:

• IPG significantly expanded its Cradle to Cradle Certified product lines, increasing from eight to twelve, which is by far the most in the industry.
• IPG’s Cradle to Cradle Certified products accounted for 58% of total sales in 2022, demonstrating a notable increase from 50% in 2021.
• IPG achieved the prestigious ENERGY STAR Partner of the Year: Sustained Excellence award for the eighth consecutive year, recognizing its unwavering commitment to excellence.
• Through various energy efficiency projects, IPG successfully reduced its collective Scope 1 and Scope 2 carbon footprint, demonstrating its dedication to mitigating environmental impact.
• IPG's proactive reporting to CDP Climate resulted in a strong score of B, surpassing both the global average and the specific industry average.
• IPG significantly improved its waste diversion rate from 41% in 2021 to an impressive 59% in 2022, further enhancing its sustainable practices.
• In 2022, 65% of packaging products manufactured by IPG, based on revenue, were recyclable, reusable, or compostable.
• IPG prioritized safety with around 15,000 safety contacts conducted and implemented daily formal safety walks at each site. These collective efforts resulted in a notable decrease in the total case incident rate from 1.8 in 2021 to 1.7 in 2022.
• By signing the CEO Action for Diversity & Inclusion™ in 2022, IPG's CEO reaffirmed the company's unwavering dedication to fostering inclusivity and diversity within the workplace. This commitment, as the largest CEO-driven business initiative for promoting diversity and inclusion, showcases IPG's ongoing efforts to cultivate an inclusive and equitable environment.
• IPG made substantial progress in renewable energy utilization, with renewable energy accounting for 3.1% of total energy use. Moreover, energy intensity decreased from 6.02 in 2021 to an improved rate of 5.87 in 2022.

About IPG

Headquartered in Sarasota, Florida, IPG is a global provider of packaging and protective solutions across a diversified set of geographies and end-markets. The Company develops, manufactures, and sells a variety of solutions including paper and film-based pressure-sensitive and water-activated tapes, stretch and shrink films, protective packaging, woven and non-woven products and packaging machinery.
For information about the Company, visit www.itape.com.

IPG’s full 2022 Sustainability Report is available at https://www.itape.com/sustainability

Cradle to Cradle Certified^® is a registered trademark of the Cradle to Cradle Products Innovation Institute.

FOR FURTHER INFORMATION CONTACT:
Jay Bolus
Vice President Sustainability
jbolus@itape.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/507dffc3-11b6-46e4-aef3-cdffd6c3600c

FAQ

What is IPG's sustainability report about?

IPG's sustainability report highlights the company's achievements and future commitments to sustainability.

What awards did IPG receive?

IPG received the ENERGY STAR Partner of the Year award for the eighth consecutive year.

What progress did IPG make in reducing its carbon footprint?

IPG successfully reduced its collective Scope 1 and Scope 2 carbon footprint through various energy efficiency projects.

How did IPG improve its waste diversion rate?

IPG significantly improved its waste diversion rate from 41% in 2021 to 59% in 2022.

What commitment did IPG make to diversity and inclusion?

IPG's CEO signed the CEO Action for Diversity & Inclusion™ in 2022, reaffirming the company's dedication to fostering inclusivity and diversity within the workplace.

What progress did IPG make in renewable energy utilization?

IPG made substantial progress in renewable energy utilization, with renewable energy accounting for 3.1% of total energy use.