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    SK3   IE00B1RR8406

SMURFIT KAPPA GROUP PLC

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Smurfit Kappa : receives SBTi approval for carbon reduction targets

01/13/2022 | 02:01pm EDT

Smurfit Kappa has had its emissions reduction targets approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement. The targets covering greenhouse gas emissions from Smurfit Kappa's operations (scopes 1 and 2) are consistent with reductions required to keep global warming to well-below 2°C.

The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) which defines and promotes best practice in science-based target setting and independently assesses companies' targets.

The initiative mobilises companies to set science-based targets in the transition to a low-carbon economy. Emission reduction targets are considered 'science-based' when their CO2 reduction targets are in line with what the latest climate science says is needed to meet the goals of the Paris Agreement.

SBTi approval is the latest validation of Smurfit Kappa's leadership in sustainability in the paper-based packaging sector. In 2020 the company was the first in the industry to announce its target of at least Net Zero fossil emissions by 2050 and also introduced ambitious new sustainability targets under its Better Planet 2050 initiative. Smurfit Kappa was also the first FTSE 100 company to receive 5 stars from "Support the Goals" in recognition of its support of the United Nations' Sustainable Development Goals, building on the company's leading performance across third party rating companies such as MSCI, ISS ESG and Sustainalytics.

Tony Smurfit, Group CEO, said: "The SBTi validation builds on our well-established sustainability credentials and is an extremely positive development for Smurfit Kappa and all our stakeholders. The world must move to circular business activities with low carbon emissions. SBTi is further evidence of our ability to deliver on this goal, and for our customers, through our increasingly sustainable operating footprint and packaging solutions.

"Sustainability is at the heart of all our operations, and we have a long-term commitment to protect the planet, its people and all our stakeholders."

Garrett Quinn, Chief Sustainability Officer at Smurfit Kappa, added: "In Smurfit Kappa we focus on long-term ambition coupled with action and delivery today. The strength of our continued delivery across our sustainability metrics has been further underlined by SBTi's approval.

"Since starting our corporate sustainability reporting journey over 15 years ago, we have been collaborating with like-minded organisations to tackle critical issues such as climate change, waste reduction and water scarcity.

"SBTi approval provides us with a solid foundation to build towards our Better Planet 2050 targets and plays an increasingly important part in the delivery of our customers' sustainability goals."

Smurfit Kappa is a leader in the circular economy providing sustainable, renewable, recyclable, and biodegradable paper-based packaging solutions for over 65,000 customers.

Disclaimer

Smurfit Kappa Group plc published this content on 13 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2022 19:00:01 UTC.


ę Publicnow 2022
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Sales 2022 11 888 M 12 368 M 12 368 M
Net income 2022 910 M 946 M 946 M
Net Debt 2022 2 787 M 2 899 M 2 899 M
P/E ratio 2022 10,6x
Yield 2022 3,80%
Capitalization 9 704 M 10 101 M 10 096 M
EV / Sales 2022 1,05x
EV / Sales 2023 0,99x
Nbr of Employees 48 000
Free-Float 99,3%
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Anthony Paul James Smurfit Group Chief Executive Officer & Executive Director
Kenneth Bowles Group Chief Financial Officer & Executive Director
Irial Finan Chairman
Arco Berkenbosch Vice President-Marketing, Research & Development
Richard Schouten Group Vice President-Information Systems
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