Amcor : 2024 Amcor Sustainability Report 2024 Summary

Published: 2024-10-24 04:46:05 ET AMCR

Sustainability Report 2024

TOWARD A

CIRCULAR SOCIETY

People. Purpose. Progress.

Contents

A letter from our CEO

2024 at a glance

Toward a circular society

Discover how Amcor's approach to responsible packaging is driving circularity across the industry. For more in-depth stories and inspiring successes, scan the QR codes throughout this report or visit amcor.com/sustainability-report

Amcor FY24 Sustainability Report

A letter from our CEO

Peter Konieczny

Welcome to Amcor's Sustainability

Report for the Fiscal Year 2024.

Welcome to Amcor's Sustainability Report for the fiscal year 2024,

a period marked by significant achievements and continued progress. Sustainability is at the heart of our company and drives a sense of purpose, inspiration and energy in everything we do.

I'm proud to say that last year was our safest ever - a milestone that reflects our care for one another and our commitment to providing a safe and rewarding working environment for every colleague.

Our packaging plays a critical role in delivering essential food, beverage and healthcare products that improve the lives of millions of people around the world. We firmly believe that packaging will continue to add value to modern life and are passionate about our opportunity to create a better, more circular future.

Looking forward, the sustainability journey at Amcor will build upon our strong foundations. We will continue using the latest scientific insights to innovate more sustainable and unique solutions across multiple materials. That includes plastic, which is often the most effective and responsible way to preserve and transport food and medicine.

Any conversation about sustainability in our industry must acknowledge the need to address the end-of-life for packaging. Over the past five years, Amcor has led the way in making incredible progress designing our products to be recyclable and more efficient - but design alone is not enough. Society needs consumer participation and infrastructure development to make circularity real - to make sure used packaging is not left in nature but recycled to become new packaging.

We are doubling down on our efforts to bring change - advocating for clear, consistent and effective regulations, encouraging infrastructure development and educating both customers and consumers about their vital role. Each one of us has the power to contribute positively to a more circular society and build a more sustainable future.

Thank you for your interest in our company. We look forward to continuing this journey with all of you.

Sincerely,

Peter Konieczny

Chief Executive Officer

Amcor FY24 Sustainability Report

2024 at a glance

95%

of rigid packaging by weight was recyclable in practice and at scale

Over

of plastics purchased were post-consumer recycled

Launched AmFiniti™ portfolio of recycled content packaging

4 global innovation centers and a global network of more than

1,000

research and development professionals

$8.1 billion

in revenue from products

that meet global

recyclability standards 100%

of specialty carton

packaging was certified

Purchased

as recyclable by

Institute cyclos-HTP

224,000

metric tons of

recycled materials

94%

of flexible packaging

portfolio by area had a recycle-ready solution available

Purchased

313,000

metric tons of renewable materials

2024 at a glance

153

77%

sites certified as

of operational

"zero waste-to-disposal"

waste was recycled

Conducted

1,827

reduction in absolute GHG

emissions compared to FY23

ASSET™ life cycle

100%

assessments

of sites had water management

plans in place

Near-term and

14%

net-zeroscience-based

Launched

targets were validated

Decarbonization

of electricity was

renewable, up

by the Science Based

Roadmap

64% from FY23

Targets initiative

Over

Engaged over

99%

110

of fiber materials were

suppliers at Supplier

from suppliers with

Sustainability Summit

third-party certifications

focused on GHG

for responsible forest

emissions reduction

management practices

2024

at a glance

Our sustainability strategy addresses circularity, environment and people.

More than

70%

of sites injury free for

12 months or more

Delivered diversity, equity and

Over

Achieved a record

inclusion training to over

90%

year in safety, with

5,000

of global

12%

production colleagues

workforce

reduction in

participated

recordable injuries

in OurVoice@

compared to FY23

Amcor survey

Partnered with the

Over

Bottles of Love Foundation

Launched Amcor

1,600

in Colombia to turn

Black Employee

1,500

Network for Diversity

volunteers joined 39

and Inclusion

community clean-up events,

metric tons of flexible

(ABENDI)

collecting more than 16

plastic waste into a

metric tons of waste

classroom for local students

Amcor FY24 Sustainability Report

Toward a circular society

The role of industry leaders in shaping a better, more sustainable future has never been more crucial.

As we look to the future, it's clear that establishing a circular economy for packaging is no longer just an ambition - it's an absolute necessity. It requires active participation from every stakeholder in the value chain and a fundamental shift in mindset to create a society where circularity becomes the norm.

At Amcor, we are committed to leading this transformation by example and through actions. By aligning our efforts with environmental, social and governance (ESG) principles and across the value chain, we are not just paving the way for a circular society - we are building a future that benefits society and the planet as a whole.

Progressing circularity

Embracing circularity is at the heart of our environmental stewardship, serving as a catalyst for innovation, growth and progress. We were proud to achieve over 9% post- consumer recycled plastic use, making exciting progress toward our goal of 10% by 2025. This progress fuels our optimism for meeting our ambitious global target of 30% recycled content integration across all substrates by 2030.

Innovating more sustainable packaging solutions that protect products, people and the planet is an integral part of our purpose and drives our robust innovation strategy. We rethink and redesign our packaging solutions to minimize waste and maximize resource efficiency, while also advancing circularity. In FY24, 74% of our packaging production by weight met widely accepted industry recyclability standards, representing $8.1 billion in revenue for Amcor. Through our Catalyst™ program, we have maintained excellent collaboration with our customers, focusing on innovating, optimizing and introducing more sustainable packaging solutions.

Darren O'Brien,

President, Mondelēz International

Australia, New Zealand, and Japan

Moreover, our commitment to progress extends beyond traditional collaborations. We actively partner with start-ups and scale-ups through our corporate venturing approach, identifying and accelerating the growth of innovative technologies aimed at advancing circularity in packaging. By championing these next-generation solutions, we are paving the way toward a truly circular society.

Driving environmental impact

In our ongoing commitment to reduce Amcor's carbon footprint, we are proud to share significant achievements that underscore our progress. In January 2024, our near-termscience-based targets for greenhouse gas (GHG) emission reduction were validated by the Science Based Targets initiative. Our net-zeroscience-based targets were subsequently validated by the same organization in September 2024, committing Amcor to reach net-zero GHG emissions across the value chain by 2050. We developed and published a Decarbonization Roadmap to clarify our strategy and guide our efforts

to reduce GHG emissions as we work to achieve our science-based targets.

Amcor FY24 Sustainability Report

Toward a circular society

GHG emission reduction levers:

Amcor's "4 + 1" decarbonization strategy

Amcor's "4 + 1" decarbonization strategy emphasizes action on four priority levers that address the largest sources of GHG emissions within our business. We also continue monitoring and implementing various lower-impact activities, which are included in the "+ 1" bucket of operational efficiency.

4 priority initiatives

Renewable electricity

Scope 2

Supply chain

Recycled content

Scope 3

Product redesign

1 ongoing initiative

Operational efficiencyScopes 1 + 2 + 3

Click here or scan the QR code to learn more.

Amcor FY24 Sustainability Report

Toward a circular society

This roadmap outlines our "4 + 1" strategy of the key levers we will use to significantly lower our carbon footprint and enhance sustainability throughout our operations and value chain.

First, we are committed to transitioning to renewable electricity, powering our facilities with more low-carbon energy sources to minimize environmental impact. In FY24, our progress included a 64% increase in renewable electricity use compared to the previous year, bringing us to 14% renewable electricity and 11% renewable energy overall.

Second, our supply chain collaboration focuses on closely partnering with our suppliers to reduce the carbon footprint of the materials we purchase, ensuring alignment with our decarbonization goals.

Third, we are increasing the recycled content in our products. Using mechanically recycled materials helps reduce carbon footprint while also maximizing circularity by using materials already in circulation.

And fourth, we are reducing our carbon footprint through product redesign, focusing on material reduction, the use of lower-carbon materials and design for recyclability.

Peter Poulos,

Vice President of Global Procurement,

Amcor

The additional focus area, or "+ 1," emphasizes our operational efficiency. In FY24, we continued to improve our water and waste management systems, boost energy efficiency and upgrade our equipment to minimize resource consumption and reduce emissions.

By optimizing every aspect of our operations, we not only contribute to lowering our carbon footprint but also support the principles of a circular society, where resources are used efficiently, waste is minimized and sustainability is embedded in every step of the process.

As a result of the actions described above, we were proud to achieve a 9% reduction in GHG emissions in FY24, representing a 17% decrease from our FY22 baseline.

Celebrating our people

Our employees are the foundation of our robust safety culture and the reason why we celebrated our safest year on record at Amcor in FY24. This achievement reflects the strong safety culture our global teams have built, embraced and embodied. Our rigorous safety protocols and enhanced training led to a 12% reduction in our total recordable injury rate (TRIR) compared to FY23. Our milestone achievement of a 1.36 recordable case frequency rate (RCFR) and a 0.27 TRIR not only positions us as a leader in the industry but also underscores the dedication and commitment of our workforce. Each team member plays a critical role in fostering a culture of safety, care and mutual support, ensuring that every colleague returns home healthy at the end of each workday.

Our workplace brings together a diverse group of employees from various nationalities and backgrounds. We prioritize fostering an inclusive culture where everyone feels valued and a sense of belonging. The diversity of our team members is not just valuable - they are essential to Amcor's business success. We understand that diversity, equity and inclusion are vital to creating an environment where innovation and creativity can thrive.

As we celebrate our people and commit to creating an empowering workplace, we also understand the critical importance of community engagement. In FY24, we developed a global community engagement framework that strategically guides our efforts in four key areas: caring for future talent, caring for people, caring for the environment and emergency relief.

Amcor FY24 Sustainability Report

Building a circular society

Brian Foley, Plant General Manager,

Amcor Flexibles North America

Mundelein

We recognize that the future of a circular society depends on the next generation. Amcor supports initiatives that promote innovation and scientific education, empowering the pioneers of tomorrow. We encourage skill-based volunteering and back projects in science, technology, engineering and mathematics to spark interest in these disciplines among children and young adults.

Understanding the fulfillment that comes from improving others' lives, we also support initiatives that provide essential resources such as food, beverages and medicine to those in need.

In FY24, our team members engaged in various community support initiatives, reflecting our commitment to social responsibility. These activities included donating Amcor products, supporting food banks, organizing food drives and providing mobile clinics to assist underserved communities.

Integrating these efforts with our commitment to environmental stewardship, we continued to participate in local outreach programs and partnerships aimed at raising awareness about the environmental impact of packaging and the importance of a circular economy. Our initiatives included workshops, clean-up events and educational seminars designed to teach community members how to reduce their ecological footprint. Fostering a sense of responsibility and stewardship lays the foundation for a circular society where communities unite to work together toward a more sustainable future.

Fred Stephan,

Chief Operating Officer, Amcor

Amcor FY24 Sustainability Report

Title

Building a circular society

Achieving purpose through partnerships

In our pursuit of a circular society, we have engaged in more than 75 global and local strategic partnerships to address circularity challenges within the packaging value chain. This includes collaborations with the Ellen MacArthur Foundation, the Alliance to End Plastic Waste and the Consumer Goods Forum Plastic Waste Coalition, among others. Our involvement in the World Wildlife Fund's ReSource: Plastic initiative further exemplifies our commitment to building a responsible packaging value chain and driving the circularity of our packaging.

David Clark,

Chief Sustainability Officer, Amcor

In FY24, we continued our collaboration with value chain partners to build essential recycling facilities globally, a critical step in developing a circular society. Notable projects include our work with Licella in Australia, focused on advancing recycling technologies; and our work with Delterra in Latin America, aimed at enhancing waste collection and recycling systems. These initiatives strengthen recycling capabilities and contribute to the development of waste management infrastructure.

We also continued to share our expertise and knowledge to shape and drive impactful legislation, such as the United Nations' Treaty to End Plastic Pollution and the Packaging and Packaging Waste Regulation (PPWR) in Europe.

By participating in these legislative dialogues, we advocate for comprehensive policies that drive systemic change, reinforcing our commitment to more sustainable practices across the packaging industry and advancing the vision of a circular society.

Delia Harabula,

Sustainability Advocacy Lead,

Amcor Flexibles Europe,

Middle East and Africa

Rob Opsomer,

Executive Lead,

Ellen MacArthur Foundation

Caroline Ploux,

Senior Manager,

Public Affairs Europe, Mars

Amcor FY24 Sustainability Report

Circularity. Environment. People.

As we reflect on the past year, we are filled with pride and gratitude for the contributions of our team members. Their commitment, passion and dedication are the driving forces behind our progress in sustainability. It is through the collective efforts of every colleague, who embraces our safety culture and lives our purpose of providing essential food and medical products to people worldwide, that we are able to lead by both action and example.

Building a circular society

We remain optimistic about our vision for a truly circular economy in responsible packaging, and we are inspired by the opportunity to drive this change. By enhancing recycling infrastructure, supporting our customers in meeting their commitments and inspiring consumers to demand and participate in circularity, we can transform today's challenges into catalysts for a better tomorrow when more sustainable packaging is not just an option but the standard - a world where circularity is the norm.

Amcor FY24 Sustainability Report

Disclaimer

Amcor plc published this content on October 24, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on October 24, 2024 at 08:45:10.111.