Sonoco, one of the largest diversified global packaging companies, has released its 2013-14 Corporate Responsibility Report, outlining the company's continued progress towards achieving its global sustainability targets.
"The progress highlighted in this report is a testament to our people," says Jack Sanders, president and CEO. "Throughout Sonoco's115-year history, we've held firmly to the principle that People Build Businesses. As we enter the next 115 years, we will continue to follow our guiding principle of doing the right thing as we seek progress in all areas of economic, environmental and social responsibility."
Sanders adds, "One area of significant progress to note is our work to reduce normalized greenhouse gas emissions by 15 percent by year-end 2014. As of the end of 2013, we had reduced GHG emissions by 13.8 percent. We believe we will surpass this goal now that the Company's $75 million biomass boiler cogeneration system in our hometown of Hartsville has become operational."
Other highlights from the report include:
- The company reduced normalized landfill by 3.16 percent and have 26 plants diverting 95 percent or more from landfills. Ten of those plants are sending less than 1 percent to landfills.
- Sonoco Recycling recovered the equivalent by weight of more than half 63 percent of the products Sonoco places into the marketplace.
- The company's supplier diversity spend increased to 8.8 percent of total vendor spend in 2013.
- The Sonoco Foundation contributed nearly $2.6 million to 65 nonprofit organizations supporting education, health and welfare, environment,
- cultural and civic organizations.
- Sonoco donated $45,000 to assist local home fire victims through the American Red Cross.
- The company provided a 45.2 percent total return, nearly 30 percent better than the return on the S&P 500.
- Sonoco was listed in the Dow Jones Sustainability World Index for fifth consecutive year.
- Sonoco was named one of America's 100 Most Trustworthy Companies 2014 by Forbes magazine.
The report's content is defined by Global Reporting Initiative G3 Guidelines, which form a voluntary framework of principles and indicators that Sonoco uses to measure and report economic, environmental and social performance.
Sonoco Products Co.