Novolex, a manufacturer of diverse packaging products, has reported a 23% reduction in greenhouse gas (GHG) emissions in 2023.
This signifies the company's advancement towards its target of a 30% reduction in GHG emissions per tonne of production by 2030.
Novolex disclosed the achievement in its sixth annual sustainability report, released yesterday (11 July), which underscored the company's commitment to its environmental, social, and governance (ESG) objectives.
The sustainability report, which aligned with Global Reporting Initiative standards, also highlighted that Novolex's revenue from recyclable, compostable, or reusable products increased to an 84% share in 2023, up from 78% in the previous year.
This improvement highlights Novolex's ongoing initiatives to create products that can be diverted from landfills after use.
In addition, the company enhanced its use of post-consumer recycled paper across its paper-based products, reaching 52% in 2023, increasing 3% from 2022.
Novolex's report also offers insights into its scope 3 emissions, supporting broader efforts to mitigate GHG emissions throughout the supply chain.
Over the past year, the company’s subsidiaries Vegware and Eco-Products were awarded B Corp certifications, acknowledging their efforts in reducing methane emissions and food waste.
Novolex also earned a Bronze Medal status from EcoVadis, a respected platform for assessing supplier ESG practices.
Novolex chair and CEO Stan Bikulege said: "Across our facilities, we continue to elevate our efforts to be a best-in-class company in sustainability, and I'm proud of the progress we made in 2023.
"Our plants continued to expand their safety programmes to reduce risk, and teams worked closely with customers to provide packaging solutions that meet their sustainability goals.
"Novolex also played key roles in policy discussions shaping our industry's future and enabling us to continue to develop innovative and sustainable packaging solutions."
In May this year, Novolex announced a strategic investment in US-based reusable systems and container brand OZZI.
