Crown ranks highly on climate change index
Crown Holdings has been named to the 100 Best Corporate Citizens of 2021 list by 3BL Media, headlined by its strong performance in the Climate Change pillar, within which it ranked ninth place.
The annual ranking recognises outstanding environmental, social and governance (ESG) transparency and performance among Russell 1000 Index companies. Qualifying organisations, which represent the 1,000 largest U.S. public companies, are divided into 24 industry groups for the ranking. The recognition reaffirms the commitments that Crown has made to advance its sustainability efforts on a global scale.
The 2021 methodology considered 146 ESG factors across eight pillars, with the categories of Employees, Climate Change and Environment having the highest relative weights. Other pillars include Stakeholders and Society, Human Rights, ESG Performance, Governance, and Financial. 3BL’s partner, Institutional Shareholders Services (ISS) ESG, conducted the research and processed the ranking based on publicly available information and data gathering by reputable third-party sources, including CDP, GRI and the U.S. EPA.
“Being a good corporate citizen is a critical part of who we are and how we operate on a global scale,” said Dr. John M. Rost, Vice President, Global Sustainability and Regulatory Affairs at Crown. “To continue to do our part, we have taken bold steps to bring our sustainability performance to the next level, including accelerating our activity around climate action. This recognition demonstrates that the roadmap we have outlined can effect meaningful change and we are honored to be counted among other companies committed to the same goal.”
Crown’s performance in the ranking follows the conclusion of the measurement period for the Company’s 2020 sustainability goals on December 31, 2020. The inaugural goals, which were both surpassed, aimed to reduce greenhouse gas emission (GHGs) and energy consumption levels across the Company’s global operations. Crown has also elevated its sustainability commitments with the launch of its Twentyby30 strategy, which includes climate as one of its five central pillars of action.
As part of its targets in this area, the Company has pledged to achieve a 50% combined reduction in absolute Scope 1 (fuel) and Scope 2 (electricity) GHG emissions, as well as a 16% reduction in absolute Scope 3 (supply chain) GHG emissions from a 2019 baseline by 2030. Additional climate-related targets also include reaching 100% renewable electricity by 2050, with milestones along the way, and reducing Volatile Organic Compound (VOC) emissions by 10% per unit of product.
“Achieving the transformational targets in the Paris Agreement and UN Sustainable Development Goals in this decade requires all companies truly embed ESG issues into the core of their business,” said Dave Armon, CEO of 3BL Media. “The best corporate citizens of 2021 are answering the call by demonstrating the societal and bottom-line value of leadership and transparency around ESG topics.
“They are setting ambitious goals, outlining robust strategies for achieving them, disclosing data to measure progress, and accounting for all stakeholders in business decisions.”