ZURICH, Nov. 2, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, today released its Fiscal Year (FY) 2023 Sustainability Report. Entitled "The Future of Packaging is Here," the report details how Amcor is delivering on the ambitious, industry-leading sustainability commitments it has made during the past decade.
"Amcor recognized years ago that our commitment to shaping the future of packaging required rethinking our present and taking meaningful action," said Amcor CEO Ron Delia.
"We are integrating sustainability and innovation into our business and it goes beyond just imagining more sustainable packaging solutions – we are bringing them to life."
The FY23 Amcor Sustainability Report provides tangible evidence of that progress across multiple dimensions, including carbon footprint reduction, innovative product design and recycled content use.
Within its manufacturing operations, Amcor achieved a 10% reduction in absolute greenhouse gas emissions from FY22 to FY23, with 22 Amcor sites achieving 100% renewable electricity use. In the area of waste, the company achieved a 46% reduction in FY23 compared to the FY19 baseline.
Every year, Amcor invests approximately USD $100 million in research and development to bring to market innovative solutions that help customers meet their sustainability goals. At the end of FY23, Amcor's global portfolio of products designed to be recycled, reusable or compostable reached 90%, with a goal of 100% by 2025. By segment, 89% of Amcor's flexible packaging portfolio has a recycle-ready design solution available and 95% of rigid packaging by weight is recyclable in practice. Compared to the prior year, the company also increased by almost 30% the amount of recycled material it purchased for its products.
Amcor made strides in broadening the availability of paper-based packaging that is recyclable in most waste streams. Over 92% of purchased fibers were certified to an external sourcing standard (up from 75% in FY22), and the company launched its AmFiber™ Performance Paper in Asia, Latin America and North America while expanding its offering in Europe. Additionally, 100% of packaging produced by Amcor Specialty Cartons is certified as recyclable by Institute cyclos-HTP.
In addition, Amcor continues to expand its partnerships across the value chain. Along with Mondelez International, Inc., Amcor announced an investment in advanced recycling technology pioneer Licella to construct one of the first advanced recycling facilities in Australia. Amcor also entered into a multi-year deal to secure access to high-performance certified-circular material from ExxonMobil globally.
"Sustainability is the driving force in how we approach packaging and think about the future," said David Clark, vice president, Sustainability at Amcor. "Amcor's commitment to a more sustainable future is made possible through our talented teams, our investments in product development and the strategic partnerships with our value chain partners, investors and customers. Together, we are getting closer to a circular economy."
View the FY23 Amcor Sustainability Report here.
Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2023, 41,000 Amcor people generated $14.7 billion in annual sales from operations that span 218 locations in 41 countries. NYSE: AMCR; ASX: AMC
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