02/27/2020 | Press release | Distributed by Public on 02/27/2020 08:31
O-I Receives Approval for Science-Based Emissions Reduction Targets
PERRYSBURG, OH, O-I Glass, Inc.(NYSE: OI) is the first glass packaging company to receive approval from the Science Based Targets initiative for its emission reduction targets. O-I commits to reduce absolute scope 1,2 and 3 GHG emissions by 25% by 2030 from a 2017 base year. The SBTi's Target Validation Team classified O-I's company's scope 1 and 2 (infographic below) target ambition and has determined that it is in line with a 2°C trajectory and in accordance with the Paris Agreement.
'SBTi approval is one of many important steps O-I is taking to shape a healthier world,' said Jim Nordmeyer, VP, Global Sustainability. 'We are committed to improving our processes and our products to ensure we are responsibly doing our part in the food and beverage packaging industry, for our customers, our employees and our shareholders.'
Science-based targets provide companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions.
The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies' competitive advantage in the transition to the low-carbon economy. SBTi is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC).
O-I recently furthered its commitment to invest in sustainability projects by issuing a Green Bond. Some of those initiatives include replacing fossil fuel energy with renewable energy and incorporating other energy efficient solutions.
At O-I Glass, Inc., we love glass and are proud to make more of it than any other glass bottle or jar producer in the world. We elevate products by creating sustainable packaging with emotions, transforming brands into icons, transcending the day-to-day to create meaningful, magical moments. We help food and beverage brands fully express themselves so they can build an emotional bond with consumers. Globally headquartered in Perrysburg, Ohio, our team of more than 27,500 employees at 78 plants in 23 countries worldwide has achieved revenues of $6.7 billion in 2019. We are dedicated to make what matters, to step-by-step shape a healthier and more exciting world. For more information, visit o-i.com.