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Sonoco Products
United States
Sonoco Products manufactures industrial and consumer packaging solutions. The company operates in a vertically integrated structure that includes company-owned recycling facilities, paper production plants, and packaging facilities. This structure not only encourages recycling and the use of recovered materials, it also creates a competitive advantage by reducing Sonoco's reliance on third-party material inputs. Sonoco's sustainability commitment is based on an understanding of limited environmental resources and the business implications of these constraints. CEO Harris DeLoach Jr. explained this well when he spoke at the Sustainable Packaging Forum and noted that "...issues supporting sustainability are directly linked to Sonoco's long-term profitability and viability." Sonoco adheres to environmental life-cycle analysis, source reduction, and waste minimization principles when developing new products and refining existing ones. For example, by converting the packaging of powdered infant formula from steel cans to composites Sonoco was able to achieve a 27% reduction in material inputs (by weight), a 34% reduction in energy inputs, a 20% reduction in greenhouse gas emissions, and a 22% reduction in suspect chemicals. Recognizing that the production of paper is energy intensive, Sonoco launched a worldwide initiative to drive down paper mill energy use. As a result, Sonoco has cut the energy required to produce a ton of paper at its North American mills by 12%. Portfolio 21 has asked Sonoco to improve and increase its environmental accounting as the company currently only reports data for a portion of its facilities and does not report on any of its pollution prevention efforts.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 9/30/09 and may not reflect current opinions or subsequent events.