Smurfit Kappa has been named as a leading environmental, social and governance (ESG) performer by research and analytics firm Morningstar Sustainalytics.
This is the third year in a row the packaging giant has been recognised in this category. It achieved both industry and regional top-rated status.
The company was classified as “low risk” with a score of 10.7, placing it first among its paper packaging industry peers. It was also one of the top-rated companies overall.
The news comes after Smurfit Kappa announced its adoption of new sustainability goals and its €54 million investment in its bag-in-box plant.
The investment aims to expand the plant, enhance its waste management system and improve savings in energy consumption.
'Ongoing Dedication'
The chief sustainability officer at Smurfit Kappa Garrett Quinn commented on the rating, “We are pleased to receive continued strong ESG ratings from leading third-party providers, in this instance, from Morningstar Sustainalytics.”
Quinn continued, “The year-on-year improvement reflects our ongoing dedication to delivering best-in-class ESG performance for all our stakeholders.”
Morningstar Sustainalytics, one of the leading ESG rating companies in the world, assessed over 14,000 companies across 42 industries worldwide.
Morningstar appraised the ESG rating on multiple criteria, including financial strength, circular business practices and business ethics.
Smurfit Kappa provides renewable, recyclable and biodegradable paper-based packaging solutions to customers worldwide. The company has over 350 production sites across 36 countries and had a revenue of €12.8 billion in 2022.
Read More: GS1 And ENSO Announce Partnership To Drive Sustainability In Ireland
