Pactiv Evergreen Releases Environmental Social Governance (ESG) Report

Rhea-AI Summary

Pactiv Evergreen Inc. (NASDAQ: PTVE) released its latest ESG Report, 'Packaging a Better Future,' showcasing progress towards sustainability goals. The report highlights advancements across the company's three strategic ESG pillars - Protect Our Planet's Resources, Deliver Sustainable Products Essential to Consumers, and Value Our People and Communities. Key highlights include reductions in emissions and energy use, sustainable forestry practices, new sustainable products, community support, and ESG governance practices.

Showcases continued progress against ESG goals while embedding sustainability throughout our business

LAKE FOREST, Ill., Nov. 16, 2023 (GLOBE NEWSWIRE) -- Today, Pactiv Evergreen Inc. (NASDAQ: PTVE) released its latest Environmental, Social and Governance (“ESG”) Report, 'Packaging a Better Future,' sharing progress toward the Company’s ambitious goals in 2021 and 2022. The report highlights advancements across the Company's three strategic ESG pillars – Protect Our Planet’s Resources, Deliver Sustainable Products Essential to Consumers and Value Our People and Communities, supported by strong ESG governance practices.

“Our commitment to sustainability is foundational to our Purpose of Packaging a Better Future and is guided by our Value to Do What’s Right to deliver sustainably manufactured products with ethics and integrity,” said Mike King, President and Chief Executive Officer of Pactiv Evergreen. “Every day we strive to operate with respect for the environment and are dedicated to sustainability across our product portfolio, manufacturing and supply chains.”

Planet Pillar Highlights
Pactiv Evergreen believes in reducing emissions and energy use, protecting the sustainability of our forests, minimizing water use, decreasing waste going to landfill and fostering environmental stewardship across the enterprise. Highlights include:

• Reducing Energy Use and Emissions: Reduced Scope 1 and 2 greenhouse gas emissions by 21% from 2015 to 2022. In 2022, we committed to set science-based targets for greenhouse gas emissions reductions with the goal to achieve Net Zero emissions by 2050.
• Sustainable Forestry: Established and made progress towards three new goals that support responsible forest management. In 2022, more than 99% of fiber sourced to make our paper products met fiber sourcing standards, and 100% of our applicable facilities in North America were chain-of-custody certified.
• Operational Excellence: Selected over 100 Sustainability Champions dedicated to supporting our goals in our facilities and driving sustainability excellence across the enterprise.
• Keeping Plastic Out of the Environment: 100% of applicable facilities signed the Operation Clean Sweep pledge.

Products Pillar Highlights
Pactiv Evergreen is committed to offering a wide array of sustainable products and materials to meet our customers’ needs, designing innovative materials and products, and collaborating across the value chain to expand the opportunities to recycle or compost our products. Highlights include:

• Packaging for the Future: Achieved 66% net revenues from products made from recyclable, recycled or renewable materials, and launched over 40 new certified compostable products in 2022.
• Certifying Circularity: Received ISCC PLUS certifications at four manufacturing facilities to handle and track circular and/or bio-based resins.
• Collaborating for a Sustainable Future: Engaged with numerous organizations to advocate for our, and our industry’s, interests.
  

People Pillar Highlights
Pactiv Evergreen is committed to attracting, empowering and retaining the best team. We embrace diversity, equity, inclusion and belonging, and we support the communities in which we work and live. Highlights include:

• Our Communities: Thousands of employees across all of our facilities donated approximately 95,000 pounds of food and volunteered over 3,300 hours during our inaugural Give Back Month of Action – Hunger Action Month in September 2022.
• Our Suppliers: Started Tier 1 and 2 supplier audits through Sedex to gain visibility into labor, health and safety, environmental and business ethics practices in our supply chain.
• Leadership and Development: Launched new Leadership Development programs for front line and mid-level leaders.
• Tuition Assistance: Launched a tuition assistance program for U.S. salaried and non-union hourly employees.
• Championing Safe Operations: Strengthened Zero Harm Culture through the Company’s operational excellence program.
  

ESG Governance Highlights
Pactiv Evergreen is committed to owning our culture of integrity and ethics, setting high standards for compliance and publishing transparent and regular ESG disclosures.

• Transparency: Published first report based on Global Reporting Institute index and informed by the Sustainability Accounting Standards Board’s Containers and Packaging and Pulp and Paper Products standards.
• Climate Risk: Published climate-related risks and opportunities in TCFD report.
• Water Risk: Analyzed water risk exposure through the World Resources Institute.
• United Nations Sustainable Development Goals (UN SDGs): Provided updates on alignment to UN SDGs.
• External assurance: Received third-party limited assurance on scope 1 and scope 2 (location-based) emissions, energy consumed for Scope 1 and 2 (location-based) emissions and energy intensity for scope 1 and scope 2 (location-based) emissions.
  

Our ESG progress is outlined in further detail in Pactiv Evergreen’s new Environmental, Social and Governance Report at pactivevergreen.com/sustainability and we invite you to view a video overview of our ESG Report.

About Pactiv Evergreen Inc. Pactiv Evergreen Inc. (NASDAQ: PTVE) is a leading manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America. The Company produces a broad range of on-trend and feature-rich products that protect, package and display food and beverages for today’s consumers. Its products, many of which are made with recycled, recyclable or renewable materials, are sold to a diversified mix of customers, including restaurants, foodservice distributors, retailers, food and beverage producers, packers and processors. Learn more at www.pactivevergreen.com.

Media Contact:
Beth Kelly, Senior Director, Communications
beth.kelly@pactivevergreen.com

A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/3364e52a-a745-4abe-a4e6-f6268009e53d

FAQ

What are the key highlights of Pactiv Evergreen's latest ESG Report?

The report showcases reductions in emissions and energy use, sustainable forestry practices, new sustainable products, community support, and ESG governance practices.

Where can I find Pactiv Evergreen's new Environmental, Social and Governance Report?

You can find the report at pactivevergreen.com/sustainability.

What are the sustainability goals highlighted in the report?

The report highlights goals related to reducing emissions and energy use, sustainable forestry practices, new sustainable products, community support, and ESG governance practices.

What are some of the environmental initiatives mentioned in the report?

The report mentions initiatives such as reducing energy use and emissions, sustainable forestry practices, and keeping plastic out of the environment.

How is Pactiv Evergreen supporting its communities?

The company's highlights include employees donating food and volunteering hours, supplier audits, leadership development programs, and tuition assistance.