The Company’s core sustainability goals and commitments include:
- 75% of the products manufactured by IPG, by revenue, will be Cradle to Cradle (“C2C”) Certified by 2025,
- 75% of packaging products manufactured by IPG, by revenue, will be recyclable, reusable, or compostable by 2025 and 100% by 2030,
- 50% of the energy used by IPG, at a minimum, will be renewable by 2030,
- IPG signed “The Climate Pledge”, a commitment to be net
carbon zero by 2040, joining more than 200 other companies that have committed to the program co-founded by Amazon and Global Optimism, - The top 200 people leaders at IPG will complete training and a management development program centered on inclusivity and diversity,
- IPG’s workforce will be reflective of the demographics in the communities in which it operates by 2030,
- IPG published its Sustainable Product Design and Development Vision Statement, publicly stating its commitment to developing safe, circular, and sustainable products, and
- IPG established a new committee of the Board of Directors, the
Environmental, Social & Governance (ESG) Committee , to govern its stakeholder sustainability activities and the Company also formalized its sustainability management structure by introducing a Vice-President, Sustainability position reporting directly into the Chief Financial Officer.
“We each impact the environment where we work and live. Today’s announcement is meant to demonstrate IPG’s leadership by example. We believe that establishing standards that the business will hold management, facility leaders and the broader team accountable for, strengthens our long-term fundamentals,” said
The Company’s sustainability goals, the existing profile of the product bundle and an outline of the product roadmap will be addressed in the Company’s annual sustainability report later this year. The 2020 report can be viewed on the Company’s website or by visiting: https://sustain.itape.com.
In the first year it has submitted CDP disclosure, IPG received a score of “B” from the
“Sustainability will be a core growth driver for IPG as we innovate and evolve our product bundle. We believe the early movers that deliver material impacts will be positioned to compete more effectively and take share within the traditional packaging and protective solutions landscape as consumers, retailers and distributors increasingly pursue solutions that offer sustainable benefits,” said
CDP was founded in 2000 and works with more than 590 investors with over
About
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, "forward-looking statements"), which are made in reliance upon the protections provided by such legislation for forward-looking statements. All statements other than statements of historical facts included in this press release, including but not limited to, the achievement of the Company’s sustainability goals in the timeframes set forth herein, may constitute forward-looking statements. These forward-looking statements are based on current beliefs, assumptions, expectations, estimates, forecasts and projections made by the Company's management. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions and the Company can give no assurance that these assumptions will prove to have been correct and actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Readers are cautioned not to place undue reliance on any forward-looking statement. For additional information regarding important factors that could cause actual results to differ materially from those expressed in these forward-looking statements and other risks and uncertainties, and the assumptions underlying the forward-looking statements, you are encouraged to read “Item 3 Key Information - Risk Factors”, “Item 5 Operating and Financial Review and Prospects (Management's Discussion & Analysis)” and statements located elsewhere in the Company's annual report on Form 20-F for the year ended
For more information about IPG, visit www.itape.com.
FOR FURTHER INFORMATION CONTACT:Ross Marshall Investor Relations (T) (416) 526-1563 (E) ross.marshall@loderockadvisors.com
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