Elopak emissions down by a third since 2020

(Oslo, 10 April 2024) Global packaging company Elopak has reduced its direct emissions by a third from 2020 as part of its ongoing efforts to reach net zero emissions by 2050.

Elopak’s direct Scope 1 and Scope 2 emissions are down 33% compared to a 2020 baseline, according to the company’s combined annual and sustainability report. This includes major sources of greenhouse gas emissions such as electricity usage, natural gas, and waste incineration. The decrease puts Elopak well on the way to achieving a 42% reduction in direct emissions by 2030 and reaching net zero emissions by 2050, under goals approved by the Science Based Targets initiative (SBTi).

People, Planet, Profit

The environmental milestone was publicized in Elopak’ s first ever combined annual and sustainability report. This document details progress towards the company’s sustainability commitments across the key areas of people, planet, and profit.

“These developments reflect our continued commitment to environmental, social, and ethical excellence in our journey towards becoming a net zero company by 2050”

2023 marked 15 years of structured sustainability reporting at Elopak. In the same year the company was awarded an A+ score for ESG reporting by sustainability consultancy Position Green, placing it in the top 5% of companies best prepared for the introduction of European Sustainability Reporting Standards (ESRS).

The combined report also recounted strong financial results for Elopak during the year, despite significant economic and geopolitical headwinds. Organic revenues for the company increased by 9.4% to EUR1.13 billion and the adjusted EBITDA margin was 15.1%.

Additionally, in 2023, Elopak welcomed 166 new employees – the most for the company ever in a single year – and is set to bring on even more staff when production begins at its plant in Little Rock, Arkansas, which is slated for the first half of 2025.

Note to Editors
The full 2023 annual report can be downloaded here.

About Elopak
Elopak is a leading global provider of sustainable packaging solutions specialized in carton packaging and filling equipment. Working in partnership with brands and retailers we empower consumers to make environmentally conscious choices in sectors ranging from food and drink to personal and homecare.

Our iconic Pure-Pak® cartons are made using renewable, recyclable and sustainably sourced materials, providing a natural and convenient alternative to plastic bottles that fits within a low carbon circular economy.

Founded in Norway in 1957, Elopak was listed on the Oslo Stock Exchange in 2021. Today we employ 2,700 people and sell in excess of 14 billion cartons annually across more than 70 countries.

Elopak is a UN Global Compact participant and has been carbon neutral since 2016. For more information, visit elopak.com or follow us @Elopak on LinkedIn.

_{This press release was updated April 19, 2024}