Sonoco Report highlights notable progress to sustainability goals

SEATTLE (Scrap Monster): Hartsville-headquartered global packaging firm Sonoco has released its 2016- ‘17 Corporate Responsibility Report. The yearly report highlights the significant progress achieved by the company in meeting its long-term sustainability goals. The report details the economic, environmental and social performance of the company. It also outlines the various successful projects undertaken by the company during the past one year.

The 2016- ‘17 Corporate Responsibility Report states that the company has made significant progress in reducing its impact on the environment. Further, it targets to reduce environmental impacts by promoting increased recycling of its packaging. Conversion of its Hartsville operations into biomass fuel will also result in significant environmental gains, the report noted. The ongoing process of updating lighting and air compressors at its facilities is expected to improve overall energy efficiency.

Commenting on the report, Jack Sanders, Sonoco's president and CEO noted that the report shows great progress in its journey to achieve 2020 sustainability goals. He noted that the principle ‘People Build Businesses’ guides all of company’s actions towards doing the right things. Sonoco is fully committed to deliver better value to its shareholders, customers and communities, Sanders added.

Sonoco achieved 4% reduction in emission of normalized greenhouse gas in 2016 alone. Since 2009, the company has reduced the emissions of normalized greenhouse gas by 21%. Further, it has contributed to 6.7% reduction in total greenhouse gas emissions since 2009. The 2020 goal envisions 1% annual reduction in normalized global energy usage, which in turn will lead to a further 1% reduction in GHG gases.

Sonoco has reduced normalized water usage by 4.7% in 2016. Since 2009, it has reduced normalized water usage by 42% per metric ton of production. Further, it has achieved 31% reduction in total water usage since 2009. The company aims to reduce normalized water usage by 5% through 2020.

As per this year’s report, the company recorded notable progress in safety. When compared with the previous year, 21 fewer employees were reported injured across the worldwide company facilities. Incidentally, the company targets to create a zero-injury environment by declaring safety as one of the key focus areas.

The 2016- ‘17 Corporate Responsibility Report states that the company returned $253 million to shareholders in the form of dividends and share purchases in 2016. The total returns to shareholders including reinvested dividends amounted to 32.9% in 2016. Sonoco has produced total returns of 88.6% to its shareholders over the past five years.