European corrugated packaging company Smurfit Kappa has announced that it has become one of the first companies to adopt the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD).
This was announced at the World Economic Forum’s Annual Meeting in Davos, Switzerland, on 16 January, with the group planning to integrate TNFD-aligned disclosures with its financial results by 2025.
The TNFD aims to provide frameworks for businesses to report on nature-related risks and opportunities, building upon the principles established by the Task Force on Climate-related Financial Disclosures.
Smurfit Kappa stated that its adoption of these recommendations underscores its dedication to maintaining sustainability while preserving nature and enhancing biodiversity.
The company has been announcing its sustainability efforts annually via its Sustainable Development Report, which is assured by third parties and includes nature-related targets linked to management incentives and the group’s funding costs.
The move to embrace TNFD recommendations represents an enhancement of these existing reporting practices.
Smurfit CEO Tony Smurfit said: “We are delighted to announce our intention to become an early adopter of the TNFD which aligns with our ongoing commitment of supporting a greener, bluer planet. Our commitment is to do the right thing, as well as securing a resilient and sustainable future for our business, our people, and our planet.”
As part of its Better Planet 2050 commitments, Smurfit aims to achieve net-zero emissions by 2050 and reduce fossil fuel emissions intensity by 55% by 2030.
It claims to have already achieved a 43.9% reduction in fossil fuel emissions intensity since 2005.
This month, the packaging company clinched 12 WorldStar awards, surpassing all competition in this year’s global packaging accolades.
This achievement highlights Smurfit’s commitment to crafting creative and sustainable solutions for its clientele.
