Sweet-packaged food company Ferrero has announced a significant increase in its sustainable packaging initiatives in financial year 2022/23 (FY22/23), with 90.7% of its packaging now reportedly recyclable, reusable, or compostable.
This marks an improvement from the 88.5% the company reported in the 2021/22 period.
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Ferrero Packaging head Reginaldo Tavares Da Silva said: “The work we have done to improve the recyclability of our plastic packaging portfolio and enhance recycled content allows us to safeguard our portfolio today, ensuring business continuity in the face of upcoming legislation, such as the US EPR [extended producer responsibility] bills in North America.”
To improve the circularity of its products, Ferrero has committed to various initiatives, including designing all packaging to be recyclable, reusable, or compostable, and reducing the use of virgin plastic by 10% by 2025 from a 2019/20 baseline.
In addition, the company aims to increase the use of post-consumer recycled content in its plastic packaging towards a 12% target.
Ferrero collaborates with various partners to ensure the availability of its new recycled material solutions.
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By GlobalDataThe company is also investing in research and development projects to upgrade current sorting and recycling technologies.
Ferrero’s partners include the Ellen MacArthur Foundation, the Consumer Goods Forum, and the Circular Plastics Alliance, among others.
The company’s sustainability report showcases its progress across four sustainability pillars, including protecting the environment, sourcing ingredients responsibly, promoting responsible consumption, and empowering people.
Ferrero executive chair Giovanni Ferrero said: “Ferrero Group recognises the critical role that the company plays in safeguarding nature for future generations. We reaffirmed through concrete engagements that sustainability is embedded in Ferrero’s long-term strategy. All four pillars of our sustainability framework guide every strategic decision we take.”
