Crown Leads Sustainalytics Containers and Packaging Category With Strong Sustainability Performance
TAMPA, Fla., August 14, 2024 /3BL/ - Sustainalytics has ranked Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) at the top of the Containers & Packaging category in the latest ESG Risk Rating, an industry-wide assessment of corporate sustainability performance. After receiving positive marks across multiple areas of measurement, Crown leads its peer group of 105 organizations and represents one of only 3% of more than 16,200 assessed companies to attain an overall Negligible risk score. This rating from Sustainalytics underscores the comprehensive design and current impact of Crown's ongoing Twentyby30™ program, which aims to achieve 20 measurable sustainability goals to be completed by or before the end of 2030 and focuses on areas of critical concern to the industry.
To build its diverse research universe that spans dozens of industries, Sustainalytics conducts a review of any applicable company's exposure to industry-specific material sustainability risks—and determines how well that company is managing those risks. This review process observes action and performance in several areas related to sustainability. The ratings organization utilizes a significant amount of available data to create category-specific rankings that inform stakeholders such as customers, partners and investors.
"Receiving a top industry ranking from Sustainalytics acknowledges Crown's efforts to meet stakeholder expectations and continue driving a business that performs from every angle," said John Rost, Ph.D., Senior Vice President Crown Technology, Global Sustainability and Regulatory Affairs. "By scoring strongly across multiple categories, including safety, governance and others, we are demonstrating our commitment to making maximum impact not just in the traditional areas like GHG emissions reductions, but within every capacity possible. This comprehensive effort is what bolsters our ability to operate a responsible, healthy organization long-term."
Notable in Crown's assessment are relatively low exposure levels for various areas of concern including emissions, effluents and waste, carbon footprint and resource use, meaning Sustainalytics does not view Crown's business as being inherently risky or damaging for the environment. With lower risk in each category, the Company reflects a more inherently responsible model that can more easily adapt to meet evolving sustainability regulations—a strong business attribute that stands out against other investible sectors. To build on this solid foundation, Crown continues to make progress toward its Twentyby30™ commitments, most recently securing more renewable electricity, initiating new water replenishment projects and working diligently across the supply chain to strive to increase industry recycling rates for valuable aluminum and steel cans.
Further information about Crown's sustainability initiatives are available at crowncork.com. Guidance around Sustainalytics' ESG Risk Rating methodology is available on the organization's website.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida. For more information, visit www.crowncork.com.
For more information, contact sustainability@crowncork.com.
For editorial inquiries:
Emily Hogan, Account Supervisor, FINN Partners; Email: emily.hogan@finnpartners.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements within the meaning of federal securities law. These forward-looking statements involve a number of risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this report or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2023 and in subsequent filings. The Company does not intend to review or revise any particular forward-looking statement in light of future events.
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