Smurfit Kappa is making significant progress in reducing its relative CO2 emissions, according to its 13th annual Sustainable Development Report (SDR) which was published today.

The company has reported a 32.9% reduction in fossil CO2 emission intensity between 2005 and 2019. To put these figures into context, Smurfit Kappa seeks to reduce relative CO2 emissions by 40% by 2030, in comparison to the 2005 baseline.

Smurfit Kappa also plans to discuss its current CO2 reduction target with the Science Based Targets initiative (SBTi) to confirm that it is aligned with the Paris Agreement and the recommendations of the latest climate science findings.

In addition to seeking SBTi validation, the company says that it will support the Taskforce for Climate-related Financial Disclosures, a global body that develops climate-related financial risk disclosures which are used to provide information for investors, lenders, and insurers.

Tony Smurfit, Group CEO, said: "We have been deemed an ‘essential business’ during the Covid-19 pandemic and at this challenging time, our immediate, primary focus is to protect our employees and meet our customers’ needs. I am immensely proud of how our 46,000 employees are playing their part to maintain vital supply chains during the Covid-19 pandemic.

“Sustainability remains a key focus for us. Today’s report gives an insight into how it continues to underpin our business operations and outlines the progress we are making in the areas of environmental, social, and governance criteria.”