Smurfit Kappa announces new Better Planet 2050 targets
Broadening Smurfit Kappa’s commitments to sustainability, the group has introduced new and updated, ambitious targets as part of its Better Planet 2050 commitments.
Addressing sustainability in a number of areas, its new targets focus on reducing further its environmental footprint, increase its support for communities and further enhance the lives of its employees. The group’s targets under its Better Planet 2050 commitments builds upon its sustainability efforts which it has been reporting on since 2005.
“Sustainability has always been part of our DNA but concerns about how we treat our planet, how we create a more inclusive world and support greater equality across our communities has never been so important. More needs to be done to address these global challenges. That is why we are setting new, more ambitious short-term targets and longer-term goals. Better Planet 2050 quantifies our commitment to protect what we care about – our planet, our people and our business - through a set of ambitious goals that will drive actions and behaviours that will deliver better outcomes,” commented Tony Smurfit, CEO, Smurfit Kappa Group.
Breaking down Smurfit Kappa’s new targets
Committed to targeting environmental and social sustainability in areas that it believes will have the greatest impact, Smurfit Kappa’s new targets include sustainable packaging, reducing its environmental footprint in water usage, waste and carbon emissions, and supporting communities, by promoting inclusion and diversity as well as health and safety.
“We recognise that good social citizenship, shown in our interactions with employees, business partners and host communities, can improve lives. It is essential to creating a sustainable future for all,” added Smurfit.
Smurfit Kappa’s main targets include:
- Increasing its reduction in fossil CO2 emissions from 40% to 55% in its global paper and board mill system by 2030, and reaching at least net zero fossil emissions by 2050
- Increasing its Chain of Custody Certified delivers to customers from >90% to >95% by 2025,
- Achieving at least a 1% intensity reduction of water intake by its global paper and board mill system yearly
- Establishing a diverse workplace and ensure that female gender representation across the Group is above 30%, as well as having 25% of females holding management positions (a 2% annual increase over the next three years)
- Donating over US$29.18mn to support social, environmental and community initiatives, between 2020 and 2025
Canoo Awards Manufacturing Contract to VDL Nedcar
Canoo, a trailblazing company in the electric vehicle (EVs) manufacturing industry, has officially announced owned and contract manufacturing plans that will ensure the company manages to deliver on its promise to consumers of production and delivery of vehicles in Q4, 2022.
During the company’s first Investor Relations Day, Chairman & CEO of Canoo, Tony Aquila, named VDL Nedcar as its contract manufacturing partner. VDL Nedcar, which I’m sure many of you will already have heard of, is the only independent Vehicle Contract Manufacturer in the Netherlands and has enjoyed fifty years of growth under owners, including Mitsubishi Motors and Volvo cars. According to the report, Nedcar will manufacture the Lifestyle Vehicle for the United States and European Union markets, while Canoo builds a US-based mega micro-factory.
"We conducted an exhaustive search, invested significant amounts of time and resources that span the globe, in our search for our Phase 1 contract manufacturer. VDL Nedcar is the right partner," said Tony Aquila, Investor, Chairman and CEO of Canoo, Inc. "They are the top trusted European manufacturer building high-quality products for leading OEMs, and they significantly outcompeted the other contenders. VDL is also independently owned by the van der Leegte family of entrepreneurs - which aligns with our commitment to support businesses that form the backbone of communities. This strategic partnership will enable us to deliver vehicles to market while we build our Phase 2 factory in Oklahoma. It also strongly positions us for geographic expansion in Europe and builds a lasting relationship with VDL Groep of companies. Our investment will help us scale quickly and fulfil our mission to bring affordable, purpose-built EVs to Everyone."
Canoo and VDL have already gotten to work on vehicle manufacturability and production planning so that Canoo can successfully lay the groundwork for its upcoming US manufacturing operations expansion, which will be completed in Oklahoma in 2022. The Nedcar facility currently expected to produce around 1000 units for both the US and European markets in 2022, with an additional 15000 targeted for the following year.
"Canoo's bold approach to designing and building electric vehicles makes them an ideal partner as we work together to shape the future of mobility," said John van Soerland, CEO of VDL Nedcar. "This partnership advances our strategic vision to provide a contract manufacturing solution and expand our expertise in the EV arena."
Currently, Canoo is entering its GAMMA phase of development and is on track to start production soon. The company intends and expects to launch its Lifestyle Vehicle in Q4 2022, closely followed by the Multi-Purpose Delivery Vehicle and Pickup Truck.
Watch this space.