9th Jun 2021 10:46
(Alliance News) - DS Smith PLC on Wednesday outlined a number of "ambitious climate targets", including a commitment to reach at least net zero emissions by 2050.
The packaging firm also pledged a 40% reduction of carbon dioxide emissions per tonne of product by 2030, compared to 2019 levels.
"It is widely recognised that heavy manufacturing is one of the most challenging sectors to de-carbonise, but we are committed to playing our part by taking action to net zero with a clear plan and roadmap," commented Chief Executive Miles Roberts.
"We make sustainable packaging that is fibre-based and fully recyclable and believe that through combined leadership in the circular economy and climate action, we are uniquely positioned to have a real impact in helping to reduce the rise in global temperatures."
The climate targets will be validated by the Science Based Targets initiative to ensure they are in line with the goals of the Paris Agreement, DS Smith said. To achieve the targets, it will adopt a number of engineering solutions, including the use of local biomass and biogas, and renewable electricity.
As part of its existing efforts first announced in 2017, it achieved a 23% reduction in carbon emissions per tonne of product by the end of 2020, well ahead of its plans, it said.
DS Smith also announced its membership of the UN's Race to Zero.
Shares in the company were 1.0% lower at 433.50 pence each in London on Wednesday morning.
By Will Paige; [email protected]
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