Sonoco Awarded Gold EcoVadis Medal

Rhea-AI Summary

Sonoco (NYSE: SON) has achieved a Gold Medal rating from EcoVadis, placing it in the top 5% of paperboard and container manufacturers globally. This significant recognition stems from Sonoco's extensive efforts in sustainability across its 300 operations in 34 countries. Key improvements in Labor and Human Rights and Sustainable Procurement were highlighted, contributing to the company's commitment to corporate responsibility. With annual net sales of approximately $5.2 billion, Sonoco continues to prioritize sustainable practices to serve renowned global brands.

Positive

• Achieved Gold Medal rating from EcoVadis for the first time, placing in the top 5% of manufacturers.
• Improvements noted in Labor and Human Rights and Sustainable Procurement.
• Annual net sales approximately $5.2 billion, indicating strong financial health.

Negative

• None.

Improvements Recognized in Labor and Human Rights, Sustainable Procurement

HARTSVILLE, S.C., Oct. 05, 2021 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it has earned a Gold Medal rating by EcoVadis for the first time, the leading platform for environmental, social and ethical performance ratings for global supply chains.

The rating puts Sonoco among the top 5 percent of manufacturers of paperboard and containers rated by EcoVadis, which monitors sustainability practices across 200 industries and 160 counties on behalf of 75,000 companies. According to Elizabeth Rhue, Sonoco’s staff vice president of sustainability, the Company’s improved rating is a result of a global effort by Sonoco’s more than 300 operations in 34 countries to achieve exceptional levels of corporate responsibility and sustainability.

“We are proud to be included in the 96^th percentile of companies assessed by EcoVadis,” said Rhue. “Specifically, our improvements in the areas of Labor and Human Rights and Sustainable Procurement along with continued strong efforts in Ethics and the Environment allowed us to achieve a Gold Medal rating for the first time. EcoVadis and our customers continue to raise the bar and our people—across all functions and operations—are embracing the challenge to further improve all aspects of sustainability.”

About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global provider of consumer, industrial, healthcare and protective packaging. With annual net sales of approximately $5.2 billion, the Company has 19,000 employees working in approximately 300 operations in 34 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging. Better Life. The Company was listed as one of Fortune’s World’s Most Admired Companies for 2021 as well as being included in Barron’s 100 Most Sustainable Companies for the third year in a row. For more information, visit www.sonoco.com.

FAQ

What is Sonoco's recent achievement regarding sustainability?

Sonoco recently earned a Gold Medal rating from EcoVadis for its sustainability practices.

How does Sonoco rank among manufacturers according to EcoVadis?

Sonoco is in the top 5% of paperboard and container manufacturers rated by EcoVadis.

What financial performance does Sonoco report?

Sonoco reports annual net sales of approximately $5.2 billion.

In which areas has Sonoco made improvements to achieve the Gold Medal rating?

Sonoco has made improvements in Labor and Human Rights and Sustainable Procurement.

What is EcoVadis and its role in evaluating Sonoco?

EcoVadis is a leading platform for assessing environmental, social, and ethical performance in global supply chains.