Graham Packaging awarded top ESG rating from Sustainalytics
Blow molder Graham Packaging received top marks in its first environmental, social and governace rating from Sustainalytics.
The ESG rating measures a company's exposure to industry-related material risks and how the company fares in managing those risks. In recent years, the rating has become important to companies in regard to carbon neutrality pledges.
Headquartered in Lancaster, Pa., Graham Packaging ranked No. 1 out of 54 other companies in the plastic, metal and glass packaging category, according to a release from the company.
"Our ESG risk rating is a clear sign of our dedication to creating sustainable packaging that minimizes harm to the planet," said Tracee Auld, Graham Packaging's chief sustainability officer. "As a packaging company, we understand the important role we play in taking steps necessary to reduce emissions and manage climate risks."
Graham serves a broad spectrum of end markets including automotive, beverage, food, health and home.
The company ranked third in the containers and packaging segment for the ranking. Graham ranked 169 out of more than 13,560 global companies assessed.
Graham received good marks for its low ESG risk rating, which measures how the company manages sustainability issues.
Graham Packaging aims to achieve a 25 percent energy reduction by 2028 through increasing use of post-consumer recycled plastic; lightweighting and reusability; designing for recyclability; and reducing greenhouse gas emission.
The company has pledged to use 20 percent post-consumer resin across all bottles by 2025, along with 100 percent recyclability.
These moves continue to further the company's sustainability measures from 2019 including the use of 25 percent more ocean plastic, a 56 percent increase in the use of recycled PET and a 6 percent reduction in energy, among others.
Plastics News ranks Graham as North America's third-largest blow molder, with 66 locations and annual sales of almost $2.1 billion.