LEADING THE TRANSITION TOWARDS A CIRCULAR ECONOMY

At PACCOR, sustainability plays an important role in leading and advancing the transition towards a circular economy. It is our driver for growth, innovation and productivity, and an essential part of our employees‘ value proposition. We focus on meeting the needs of the present without compromising the future generations' abilities to meet their needs.

In order to achieve sustainable growth, we developed our PACCOR CARE strategy. It is in alignment with the UN Sustainable Development Goals (SDGs), which act as a guide in analyzing challenges, building strong growth strategies, and accessing new markets along the way.

For a long time, plastic will continue to play an essential role in the future economy, especially when it comes to protecting our food and other valuable goods. In order to make sure that the material does not end up in our environment, therefore damaging it, we must move away from a linear economy towards a circular economy. In this way, we can establish a protective environment for our people and our planet.

Being ahead is a way of ensuring differentiation versus competitors and a long-term survival in the market. By constantly driving towards ambitious and well-communicated goals together with our business partners, we are implementing the required business transition for our own business and our supply chain. We know that this change is the right step on behalf of our future generations and our environment.

CIRCULAR ECONOMY

At PACCOR, we focus on creating positive client, society, and world benefits, while protecting and preserving our goods and the environment. On the path towards a circular economy, PACCOR’s main driver is sustainability, which encourages growth, innovation, and productivity.

The main principles that we follow are minimizing waste and pollution, reusing the products and materials, and implementing them in the economy again, in this way extending the life cycle of products and goods. A circular economy is a regenerative approach that benefits the environment, business, and the society, in practice reducing waste to a minimum. And aims at slowly lowering the consumption of our planet’s limited resources.

PACCOR'S SUSTAINABILITY ACHIEVEMENTS

We have closed the water loops

As of 2019, all our factories have circular cooling water loop systems, bringing our impact on water bodies to a minimum.

SUPPORTING OUR CIRCULAR CLAIMS WITH SCIENCE-BASED FACTS

Starting in 2019, we have included lifecycle assessment in a range of processes and in support of our value proposition.

PACCOR's Sustainability Reports

In June 2021, PACCOR published its first GRI compliant Sustainability Report. By exceeding most of its sustainability targets year after year, the company is on a clear and ambitious path forward with its sustainability strategy CARE. The Annual Sustainability Reports of global packaging industry leader PACCOR provide a transparent and detailed overview of the company’s sustainability work in each of its four strategic fields of action: Circularity, Alliances, Resources, and Employees.

The reports were compiled in accordance with the guidelines of the Global Reporting Initiative (GRI). PACCOR details the Group’s non-financial goals and measures, which are core elements of its integrated sustainability strategy. Key focus areas of the PACCOR’s sustainability strategy included – among other things – the acceleration of the company’s improvements in sustainable plastic packaging, resource use, and climate change impacts.

In May 2022, PACCOR released its second Sustainability Report, which now reflects the fiscal year 2021.

Sustainability Report 2020

Sustainability Report 2021

PACCOR'S "CARE" STRATEGY

For PACCOR, sustainability means creating common values for all our stakeholders, our main focus areas being key risks and opportunities, strategy, sustainability agenda, and sustainability key topics and indicators. Together, we want to protect our society and our planet, which leads to our sustainability CARE strategy. Its main four key points being: Circularity, Alliances, Resources, and Employees, as well as non-financial indicators.

Our strength lies in working with a whole value-chain perspective and our value creation is based on partnership. Consequently, we are focusing on topics that have the biggest impact in terms of accelerating and guiding our strategy of creating shared value for all our stakeholders, building our core principles of safety, sustainability, and integrity, as well as including respect for human rights.

Circularity

Alliances

resources

Employees

SUSTAINABILITY COMMITMENT

PACCOR is taking sustainability to the next level through the Sustainable Development Goals (SDGs). It is an ambitious and transformative agenda requiring the participation of all sectors and represents the basis of our strategies and targets. PACCOR uses the SDGs as a lens to help analyze challenges, build a strong growth strategy, and access new markets along the way.

Therefore, we base our marketing and innovation decisions on our understanding of the development needs of the markets where we operate – using local insights to tailor the solutions we offer. At PACCOR, it is all about making informed innovation choices – and the SDGs provide a unique perspective on the future.

We continue to develop business opportunities in alignment with the UN Sustainable Development Goals and explore new collaborations with a range of stakeholders to build partnerships that will help drive SDGs' impact at scale. The areas we have the biggest impact in are SDG 3 – Good Health and Well-Being, SDG 7 – Affordable and Clean Energy, SDG 8 – Decent Work and Economic growth, SDG 12 Responsible Consumption and Production, SDG 13 – Climate Action, and SDG 17 – Partnership for Goals.

Through the "Good Health and Well-Being" Goal we establish our commitment to product stewardship. Our technical experts constantly analyze new technologies and turn market trends into viable circular, healthy, and more sustainable applications, formulations, and solutions.

The "Decent Work and Economic growth" Goal is achieved at PACCOR through the employment of around 4,000 people globally and through our operational activities, we reach more than 2,000 suppliers and more than 2,500 customers. As such, we play a key role in providing rewarding work opportunities, high quality working conditions, and delivering an important contribution to economic growth, both directly and indirectly.

In order to achieve the "Partnership for Goals" Goal, we are actively partnering with suppliers, brand owners, retailers, consumers, NGOs, and universities as the sustainable basis of our daily business. We take great pride in the fact that innovation in our company results in effective and sustainable product solutions that create value for our customers and society.

With regards to the "Affordable and Clean Energy", "Responsible Consumption and Production" and "Climate Action" Goals, PACCOR is creating a culture of care for materials along the value chain and leading to improved resource usage as well as reductions in emissions, energy use, and waste.