Siegwerk achieves CDP B Score for Climate Change Performance 2023

Commitment to minimize environmental impact gets recognition

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Siegwerk
The scoring recognizes Siegwerk’s extensive and ongoing efforts to reduce emissions, as well as stewardship in developing and promoting circular and low climate impact products

Siegwerk, a leading global provider of printing inks and coatings for packaging applications and labels, has received a CDP Scoring B for its actions and contributions to minimize impact on climate change. It was the first year that the company voluntarily participated in disclosing its climate-related strategy and initiatives through CDP, one of the most widely commended and internationally recognized climate and environmental disclosure and scoring platforms.

The CDP scoring scale ranges from A to D, where companies with an A score are among the most transparent when it comes to disclosure and performance of their climate actions. Siegwerk’s CDP B score reflects its commitment to sustainability and climate action, as well as its efforts to increase industry transparency.

Noteworthy are the high scores (absolute and relative to peers) awarded for the following categories out of a total of 17 evaluated categories:

Emission Reduction Initiatives and Low Carbon Products

Siegwerk Score: A-

Activity Peer Average : C

Risk and Opportunity Management

Siegwerk Score : A

Activity Peer Average: B

Siegwerk’s risk and opportunity management score is attributed to effective oversight on climate transition risks, incorporation of climate considerations into our business models, and engagement with stakeholders on climate reduction opportunities.

The scoring recognizes  Siegwerk’s extensive and ongoing efforts to reduce emissions, as well as stewardship in developing and promoting circular and low climate impact products. On top of that it is a validation of its decision to adopt climate change and sustainability as a value driver for its business and growth strategy.

The CDP score is a boost for Siegwerk to continue its efforts and focus to realize the seven ambitious targets set by its Sustainability Management Program HorizonNOW for 2025, including carbon neutrality Scope 1 and 2 emissions and achieving 75 percent of sales from products and services enabling circular packaging. HorizonNOW, with its clear targets, is aligned with the Science Based Target Initiative (SBTi) and United Nations Sustainable Development Goals (UN SDG).

Packaging South Asia — resilient, growing and impactful — daily, monthly — always responsive

The multi-channel B2B in print and digital 17-year-old platform matches the industry’s growth trajectory. The Indian, South Asian, Southeast Asian, and Middle East packaging industries are looking beyond the resilience of the past three years. They are resuming capacity expansion and diversification, with high technology and automation in new plants and projects.

As we present our 2024 publishing plan, India’s real GDP growth for the financial year ending 31 March 2024 will exceed 6%. The packaging industry growth will match the GDP growth in volume terms and surpass it by at least 3% in terms of nominal growth allowing for price inflation in energy, raw materials, consumables, and capital equipment.

The capacity for flexible film manufacturing in India increased by 45% over the past four years. With orders in place, we expect another 20% capacity addition in 2024 and 2025. Capacities in monocartons, corrugation, aseptic liquid packaging, and labels are growing similarly. As the consumption story returns over the next six months, we expect demand to return and exceed the growth trajectory of previous years. The numbers are positive for most of the economies in the region – and as shown by our analytics, our platform increasingly reaches and influences these.

For responsible and sustainable packaging, with its attendant regulations and compliances, there is significant headroom to grow in India and the region. Our coverage includes the entire packaging supply chain – from concept to shelf and to waste collection, sorting, and recycling.

We target brand owners, product managers, raw material suppliers, packaging designers and converters, and recyclers. This is a large and complex canvas – the only thing that can work is your agile thinking and innovation together with our continuous learning and persistence.

The coming year looks to be an up year in this region, and this is the right time to plan your participation and marketing communication – in our rich and highly targeted business platform with human resources on the ground. Share your thoughts and plans to inspire and mobilize our editorial and advertising teams!

For editorial info@ippgroup.in — for advertisement ads1@ippgroup.in and for subscriptions subscription@ippgroup.in

– Naresh Khanna (25 October 2023)

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