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Sustainable packaging leader releases 2021 Environmental, Social & Governance Impact Report
CONCORD TOWNSHIP, Ohio, June 09, 2022--(BUSINESS WIRE)--Ranpak Holdings Corp. ("Ranpak") (NYSE: PACK), a global leader of environmentally sustainable, paper-based packaging solutions for e-commerce and industrial supply chains, today released its 2021 ESG Impact Report which announced it made significant progress in 2021 towards achieving the company’s 2030 ESG targets.
The 2021 ESG Impact Report underscores the significant progress made since last year’s report, which announced the company’s commitment to meeting several ambitious targets by 2030. Progress against those targets outlined in 2021 includes:
Post-Consumer Waste (PCW) Content. In 2021, 38% of the pulp used to manufacture Ranpak’s paper supply was derived from PCW, up from 17% in 2020. With these results, Ranpak has already surpassed its previously announced 25% PCW content target.
Recycled Content. In 2021, 60% of the pulp used to manufacture Ranpak’s paper supply was recycled content, including Post-Industrial Waste (PIW) & PCW, up from 55% in 2020. As a result, Ranpak is on track to reach its 2030 target of sourcing 75% of its paper supply with pulp from recycled content.
FSC® Certification. In 2021, 62% of the paper packaging material sold by Ranpak was FSC®-certified, up from only 3% in 2020. This progress puts Ranpak well on the way to meeting its 2030 target of having 100% of its paper packaging material be FSC®-certified.
Greenhouse Gas Emissions. In 2021, Ranpak’s combined scope 1 and scope 2 GHG emissions increased by approximately 11% from 2020, but decreased by 2% from 2019, the last year unaffected by COVID. In announcing these results, Ranpak noted that the renovation of its global headquarters in Ohio and construction of a new facility for its European headquarters in The Netherlands include significant efficiency enhancements – including, in both locations, on-site solar power generation beginning in 2023. These updates will create a pathway to the company meeting its 2030 target to reduce its scope 1 and scope 2 GHG emissions by 46%.
Ranpak’s 2021 ESG Impact Report further highlights the company’s broader mission To Deliver a Better WorldTM by outlining Ranpak’s continued progress in several key ESG areas, including:
Investments in next-generation materials and products
Waste management and recycling
Circularity throughout manufacturing operations
Employee well-being and corporate culture
Diversity and inclusion (D&I)
Expectations for suppliers
Omar Asali, Chairman & CEO of Ranpak, commented, "2021 was a strong year for Ranpak as we made significant progress across the organization towards our ESG goals. Ranpak is committed to providing sustainable packaging solutions for the global supply chain. Our core values are rooted in environmental sustainability as well as the circular economy. Our business model and team are anchored around ethical and inclusive business practices. We are very pleased to issue our 2021 ESG Impact Report."
David Murgio, Ranpak’s Chief Sustainability Officer, added, "Ranpak has been producing more sustainable packaging alternatives since 1972. As our 2021 ESG Impact Report demonstrates, our focus on ESG goes hand-in-hand with our 50-year history of creating innovative solutions for protecting products in ways that benefit businesses, customers and the environment. We are proud of our history, as well as the tremendous efforts we have made in the last year, and we will continue to set a strong example for our industry and our stakeholders with our commitment to continued and measurable progress in the future."
In preparing the 2021 ESG Impact Report, Ranpak incorporated several metrics from the Sustainability Accounting Standards Board (SASB) standards for Containers & Packaging, as well as certain Global Reporting Initiative (GRI) standards. Ranpak is committed to aligning its corporate mission with applicable ESG goals from the United Nations (UN) Sustainable Development goals (SDGs).
Learn more about Ranpak’s 2021 ESG Impact Report at: http://ir.ranpak.com/sustainability/2021-ESG-Impact-Report
Founded in 1972, Ranpak's goal was to create the first environmentally responsible system to protect products during shipment. Ranpak’s mission is to deliver sustainable packaging solutions that help improve supply chain performance and costs, reduce environmental impact, and support a variety of growing business needs globally. The development and improvement of materials, systems and total solution concepts have earned Ranpak a reputation as an innovative leader in e-commerce and industrial supply chain solutions. Ranpak is headquartered in Concord Township, Ohio and has approximately 850 employees. Additional information about Ranpak can be found on its website: https://www.ranpak.com.
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