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BERRY GLOBAL GROUP, INC.

(BERY)
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Berry Global : Surpasses Goal to Eliminate 100 Million Kilowatt Hours of Electricity, Reducing Carbon Emissions by 45,000 Metric Tons

07/28/2021 | 07:31am EDT

Today, Berry Global Group, Inc. (NYSE: BERY) announced the approval of projects that will help the Company achieve its new milestone goal to eliminate 100 million kilowatt hours (kWh) of electricity from its operations. Berry surpassed its initial target to eliminate 1 million kWh from the Company’s operations in 2020 and is leveraging that success to reach its 100 million kWh goal. With an original deadline of September 2021, Berry is ahead of schedule in achieving these project approvals.

Through the sharing of best practices, Berry team members collaborated across 324 energy saving projects to achieve record energy reduction. In addition, five million kWh were saved through improvements that did not require capital investment. These reductions in energy directly reduce Berry’s scope 1 and 2 emissions, which inherently reduce customer’s scope 3 emissions.

The emissions saved from this remarkable reduction in energy is equal to the CO2 emissions to power over 8,500 homes for one year, charge 8.6 billion smartphones, and greenhouse gas emissions of 15,000 passenger vehicles for one year.1

“In line with our Science-Based Targets to minimize our environmental impacts, we are closely evaluating our energy usage as an important step toward a net-zero economy. Achieving a goal such as this requires the collective expertise of team members at all of our 285 facilities working toward the same goal of lower carbon emissions,” said Tom Salmon, Chairman and CEO of Berry Global.

Accomplished through hundreds of small projects, team members from around the world led initiatives to decrease energy use in Berry’s facilities. Just one example can be seen in Berry’s Terno d’Isola, Italy, facility, where team members implemented programming to automatically shut off equipment when not needed, eliminating 70 minutes of energy every day. Through implementation of the Terno d’Isola’s energy project, the site saved a total of 45,000 kWh, equaling a total of 31.9 MT in carbon emissions, or enough energy to fuel 7 cars for one year.1

“The one million kWh challenge was just a reminder of the little things we can all do in our plants and offices to reduce kWh consumption, like turning off the lights, turning off conveyors, and taking advantage of free cooling, but the transition to the 100 million kWh challenge in 2021 was an effort to highlight the results we can realize when we work together with the specific purpose of reducing energy consumption,” said Rodgers Greenawalt, EVP Operations for Berry Global.

Combining its global presence and local agility to solve this 285 site-wide challenge, Berry leveraged employee ideas for saving energy and brought them to life on a global scale, highlighting what can be accomplished when working together toward a common goal.

1Calculated using: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator

About Berry

At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry leading talent of 47,000 global employees across more than 285 locations we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website, or connect with us on LinkedIn or Twitter.


ę Business Wire 2021
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Financials (USD)
Sales 2021 13 667 M - -
Net income 2021 717 M - -
Net Debt 2021 8 417 M - -
P/E ratio 2021 11,9x
Yield 2021 -
Capitalization 8 441 M 8 441 M -
EV / Sales 2021 1,23x
EV / Sales 2022 1,15x
Nbr of Employees 47 000
Free-Float 99,3%
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Mean consensus BUY
Number of Analysts 18
Last Close Price 62,39 $
Average target price 80,88 $
Spread / Average Target 29,6%
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Managers and Directors
Thomas Edward Salmon Chairman & Chief Executive Officer
Mark William Miles Chief Financial Officer & Treasurer
Debbie Garrison Chief Information Officer & Executive VP
Rodgers Greenawalt Executive Vice President-Operations
Birch Evans Bayh Independent Director
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