Klöckner Pentaplast (kp or the company), a leading global manufacturer of high barrier protective packaging solutions with industry-leading use of recycled content, has announced the launch of its new sustainability strategy, ‘Investing in Better’. This follows on from the recent announcement of the successful completion of kp’s entire capital structure refinancing, which is the first of its kind to incorporate an ESG-Ratchet Linked Term Loan marketed to US investors.
With the new ‘Investing in Better’ sustainability strategy, the company has set itself 10 clear targets for long-term improvement grouped into three key objectives: Close the Loop, which commits kp to using more recycled material, closing the packaging loop and taking every opportunity to make packaging recyclable. Work Smarter encompasses targets that focus on using less energy, cutting carbon emissions and ending landfill. And Act Responsibly builds on the cornerstone of kp culture of continuous improvement in the areas of employee engagement, safety and will enable kp to become a more diverse and inclusive company.
kp CEO Scott Tracey said: "Our new sustainability strategy is inextricably linked to our purpose, the sustainable protection of everyday needs, and sustainability has been a core value at kp for many years. For the last three years, our ‘Positive Plastics Pledge’ initiative helped advance our sustainability agenda and this new strategy serves as a roadmap to build and expand on the progress we’ve already made. Ultimately, ‘Investing in Better’ will enable us to meet the long-term needs of our people, our communities and our planet. Based on our track-record, kp is well-positioned to deliver on these aims.”
Prior to the launch of ‘Investing in Better’, kp drove key initiatives to raise awareness of the value of plastic waste and recycling and opportunities to work closely with stakeholders to develop the infrastructure, education and incentives around recycling plastic for a circular economy.
Adam Elman, kp Group Director of Sustainability, added: "We recognise that the environmental and social challenges of today call for more urgent action and a broader, science-based plan. Just in the last year, the global pandemic has triggered many profound changes and exposed significant global inequities. It’s critical that we’re embarking on this journey now, expanding beyond our recycling efforts. Going forward, our commitments now include the continuation of work to raise awareness and collaborate with key stakeholders on recycling for a circular economy, as well as reducing our carbon footprint, supporting the communities where we live and work, becoming more diverse and inclusive as a company, and ensuring a safe environment where all kp colleagues can thrive."
