Smurfit Kappa Unveiled Second Annual Green Bond Report

SEATTLE (Scrap Monster): Smurfit Kappa announced publication of its second annual Green Bond Allocation and Impact Report. The report provides utilization details of the proceeds of €1 billion dual-tranche Green Bond issued in September 2021.

The proceeds were allocated to assets in various categories in accordance with the company’s Green Finance Framework. Nearly 96% of the allocation went towards circular economy adapted products, production technologies and processes as well as certified eco-efficient projects. The remaining 4% allocation was towards environmentally sustainable management of living natural resources and land use.

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As a result, the company recycled 6.8m tonnes of primarily post-consumer waste during the previous year. Also, recycled fibres accounted for 76% of global production. The waste sent to landfill declined by 4% upon comparison with 2020. In addition, the water intake recorded decline by 8% when matched with 2020.

All of the company’s forestry assets are FSC certified. In addition, 100% of the wood used in production are from certified sustainably managed forests, Smurfit Kappa noted.

Emer Murnane, Group Treasurer at Smurfit Kappa stated that the report highlights the ongoing commitment to the integration of corporate sustainability strategy into its capital structure and continuous investments in circularity.