Global packaging solutions provider Amcor has released its Sustainability Report for financial year 2023 (FY23).

As per the report titled 'The Future of Packaging is Here,' the company says it has reduced its absolute greenhouse gas emissions by 10% from FY22 to FY23.

By the end of this year, 90% of the company’s global portfolio of products is set to be recyclable, reusable, or compostable. It aims to achieve 100% by 2025.

The report also revealed that 89% of Amcor's flexible packaging portfolio has a recycle-ready design solution and 95% of its rigid packaging is recyclable in practice by weight.

This year, the amount of recycled material purchased for its products grew by nearly 30% against 2022.

During the year, more than 92% of the fibres Amcor purchased were certified to an external sourcing standard, compared with 75% in FY22.

In addition, 100% of packaging produced by Amcor's Specialty Cartons segment during the year was listed as recyclable by the Institute cyclos-HTP classification body.

The company achieved 100% renewable electricity usage across its 22 sites in 2023, and when compared to its 2019 baseline, it also reduced waste by 46% during the year.

Amcor Sustainability vice-president David Clark said: "Sustainability is the driving force in how we approach packaging and think about the future.

"Amcor's commitment to a more sustainable future is made possible through our talented teams, our investments in product development and the strategic partnerships with our value chain partners, investors and customers. Together, we are getting closer to a circular economy."

Amcor specialises in developing packaging solutions for various sectors, including the pharmaceutical, food and beverage, medical, and personal care industries, among others.