Crown tops Minimising ESG Risk table
Crown Holdings has claimed top position for mitigating environmental, social and governance (ESG) risk within the metal and glass packaging sector, following a new assessment from ESG ratings provider Sustainalytics.
The organisation advanced Crown to the Negligible Risk category—a designation achieved by only 1% of global corporations—and placed the Company ahead of 55 other reviewed peers in its subindustry group of Metal and Glass Packaging.
In addition, Crown Beverage Packaging North America, a Division of Crown Holdings, recently ranked within the U.S. Environmental Protection Agency’s (U.S. EPA’s) top 25 Green Power Partners from the Fortune 500 list for demonstrating a commitment to advancing the green power market.
These latest industry rankings follow Crown’s avid work around climate change, product stewardship, resource efficiency and other areas of focus that comprise the Company’s robust Twentyby30 sustainability program, which outlines 20 measurable ESG goals to be completed by 2030, if not sooner.
Since launching the initiative, the Company has elevated an array of commitments, including reducing its carbon footprint and fostering responsibility, resource efficiency and safety across its value chain.
In its review, Sustainalytics notes Crown’s demonstration of minimal risk in E&S impact of products and services, as well as in occupational health and safety. The assessment also highlights strong performance in ESG risk management. Combined with low ESG risk exposure, Crown received a total ESG risk ratings score of 9.8, a near two-point improvement between August 2020 and 2021 that landed Crown in the highest-performing ratings category and first-place position within its sector.
The US EPA also acknowledges Crown Beverage Packaging North America’s efforts in supporting industry sustainability goals, ranking the Division 21st out of its 71 Fortune 500 partners. In November 2020, Crown became the first metal packaging manufacturer to operate 100% of its beverage can plants in the U.S. and Canada on renewable energy.
“The US EPA cites this annual alternative energy usage, which for Crown’s US beverage operations equates to nearly 403 million kilowatt-hours (kWh), as a contributor in growing the voluntary green power market and reducing the negative health impacts of air emissions including those related to ozone, fine particles, acid rain, and regional haze.
“Minimising our ESG risks and combatting the effects of climate change are two commitments central to our continued evolution as a corporation,” said Dr. John M. Rost, Vice President, Global Sustainability and Regulatory Affairs at Crown. “To be recently recognised for our leading performance by both Sustainalytics and the EPA, two organisations that serve as major industry guideposts and drivers of change, reinforces our approach to sustainability and the targets we are setting on a global level.
“We look forward to making greater progress against our goals and to moving the needle even further within our market.