Significance
Importance To Berry Global and our Stakeholders
The management of our energy usage and subsequent emissions is vital to meet our commitments to sustainability, operational efficiency, and environmental stewardship. By adopting efficient energy practices and reducing emissions, we not only lower operational costs, but also reduce the carbon footprint of our business and aid the transition to net-zero. By embracing renewable energy sources and optimizing energy consumption, we foster operational resilience to climate risk and facilitate responsible growth opportunities.
Our Customers: Many of our customers have committed to net-zero. This requires they eliminate both their operational emissions and value chain emissions. As a critical part of our customers’ value chains, they have made it clear that they want us to support their emissions reductions goals by reducing our own operational emissions as well as offering them lower-carbon products.
Our Investors: Climate change presents many risks and opportunities. By demonstrating an effective energy and emissions management strategy, we reflect our dedication to responsible business practices and assure that we are not only aligned with global sustainability goals but also actively managing potential risks and opportunities.
Our Approach
We are committed to helping combat climate change by minimizing the impact of our products, operations, and value chain. Through robust climate governance and strategic planning, we can manage and reduce greenhouse gas (GHG) emissions. In addition, our risk management framework provides a consistent methodology to assess climate risks against a defined set of probability and impact criteria, in line with the TCFD guidelines.
As part of our approach to minimizing our impact on the environment, we have developed ambitious greenhouse gas targets, in line with limiting warming to only 1.5°C. Furthermore, to promote accountability and trust and drive continuous improvement, we report our energy and emissions data with completeness, regularity, and accuracy, clearly highlighting any exclusions.
We use an operational control approach as our reporting boundary, in line with the GHG Reporting Protocol and with guidance from the GHG Protocol’s Corporate Value Chain (Scope 3) Reporting and Accounting Standard. To increase the ease of reporting and quality of the information reported, we exclude several minor emissions sources, including minor quantities of liquefied petroleum gas (LPG), HFO, kerosene, gasoline, and diesel at U.S. facilities, and energy use in offices and non-production facilities.
Additionally, we do not report emissions of Sulfur Oxides (SOx), Nitrogen Oxides (NOx), and Volatile Organic Compounds (VOCs) from the use of refrigerants and welding gases. These are only tracked at the site level, and they have repeatedly been confirmed to be a de minimis contributor to our overall emissions. During screening, six Scope 3 categories were considered not applicable to our reporting and have also been excluded: Use of Sold Products, Processing of Sold Products, Upstream Leased Assets, Downstream Leased Assets, Franchises, and Investments. We estimate the total exclusions from our reporting amount to less than 5% of our potential total operational and value-chain emissions footprint.
We report our emissions data in carbon dioxide equivalents (CO₂e), a metric that allows us to measure emissions from all GHG emissions as one number by converting the amounts of other greenhouse gases to the equivalent amount of carbon dioxide.
The Global Warming Potential (GWP) used in calculations of CO₂e is taken from the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report (AR5). When calculating our market-based GHG emissions, carbon offsets are not included as offsets are not used to measure progress towards targets. Historical data may be recalculated to align with updated methodology.
Highlights and Target Progress
| Target | 2023 Progress |
| Reduce Scope 1 & 2 absolute emissions 25% by 2025 from a 2019 baseline | We have achieved a 25.6% reduction in Scope 1 and 2 emissions since 2019, exceeding our target two years early. We are working to set a new target for 2030. |
| Reduce Scope 3 absolute emissions 25% by 2025 from a 2019 baseline | We have achieved a 20.6% reduction in Scope 3 emissions since 2019 and are on track for achieving a 25% reduction by 2025. |
| Net-zero greenhouse gas emissions by 2050 | We have reduced our total emissions 21.5% since 2019 |
| Increase renewable energy use year on year | We increased the absolute annual amount of renewable energy purchased by the company by 65% year-over-year and also increased the amount purchased as a percentage of total electricity and energy purchased. We have now increased the amount of renewable energy used for five years consecutively. |
| Reduce Energy Consumption Intensity 1% per year | While absolute energy usage fell, energy intensity increased 2.9% year over year, as a result of lower production volumes, our metric denominator. |
Key Metrics
|
Energy |
||||||
| 2021 | 2022 | 2023 | ||||
| Absolute Energy Consumption | Amount and Percentage of Energy Consumption | |||||
| MWh | Percentage | MWh | Percentage | MWh | Percentage | |
| Electricity | 5,032,777 | 82% | 4,938,683 | 83% | 4,621,397 | 82% |
| Natural Gas | 714,990 | 12% | 674,837 | 11% | 691,278 | 12% |
| Steam | 260,649 | 4% | 247,483 | 4% | 199,163 | 4% |
| Other Energy Sources 1 | 104,024 | 2% | 111,012 | 2% | 109,170 | 2% |
| Total Energy | 6,112,440 | 100% | 5,972,015 | 100% | 5,621,008 | 100% |
| Amount and Percentage of Energy Consumption by Division | ||||||
| MWh | Percentage | MWh | Percentage | MWh | Percentage | |
| Consumer Packaging International (CPI) Division | 1,629,867 | 27% | 1,595,239 | 27% | 1,526,104 | 27% |
| Consumer Packaging North America (CPNA) Division | 1,402,807 | 23% | 1,387,316 | 23% | 1,335,891 | 24% |
| Flexibles Division | 1,075,096 | 18% | 1,038,446 | 17% | 945,921 | 17% |
| Health, Hygiene & Specialties (HHS) Division | 1,969,204 | 32% | 1,918,232 | 32% | 1,766,432 | 31% |
| Transport Fleet | 35,468 | 1% | 42,783 | 1% | 46,661 | 1% |
| Percentage | ||||||
| Percentage of Reported Electricity supplied via Electricity Grid | >99% | >99% | >99% | |||
| Energy consumption per MT of Production (MWh/MT) | ||||||
| Electricity | 1.207 | 1.254 | 1.285 | |||
| Natural Gas | 0.172 | 0.171 | 0.192 | |||
| Steam | 0.063 | 0.065 | 0.055 | |||
| Other Energy Sources 1 | 0.025 | 0.028 | 0.030 | |||
| Total Energy | 1.466 | 1.519 | 1.563 | |||
| Energy Intensity by Division (MWh/MT) | ||||||
| Consumer Packaging International (CPI) Division | 2.007 | 2.059 | 2.188 | |||
| Consumer Packaging North America (CPNA) Division | 1.481 | 1.507 | 1.511 | |||
| Flexibles Division | 0.806 | 0.825 | 0.850 | |||
| Health, Hygiene & Specialties (HHS) Division | 1.831 | 1.952 | 1.958 | |||
| Renewable Energy | MWh | |||||
| Renewable Energy Consumption | 183,499 | 184,523 | 305,293 | |||
| Percentage | ||||||
| Renewable Energy as a percentage of Total Electricity Consumption | 3.6% | 3.7% | 6.6% | |||
| Renewable Energy as a percentage of Total Energy Consumption | 3.0% | 3.1% | 5.4% | |||
| Amount and Percentage of Renewable Energy Procurement, by Division | ||||||
| MWh | Percentage | MWh | Percentage | MWh | Percentage | |
| Consumer Packaging International (CPI) Division | 16,596 | 9% | 61,966 | 34% | 109,103 | 36% |
| Consumer Packaging North America (CPNA) Division | 681 | 0% | 676 | 0% | 2,903 | 1% |
| Flexibles Division | 26,971 | 15% | 25,548 | 14% | 27,788 | 9% |
| Health, Hygiene & Specialties (HHS) Division | 39,250 | 21% | 89,332 | 48% | 165,498 | 54% |
| Corporate 2 | 100,000 | 54% | 7,000 | 4% | 0 | 0% |
| Energy Reduction Programs | Energy Requirement reductions due to CapEx Initiatives (MWh) 3 | |||||
| Consumer Packaging International (CPI) Division | 26,142 | 33,775 | 43,152 | |||
| Consumer Packaging North America (CPNA) Division | 14,199 | 20,106 | 9,131 | |||
| Flexibles Division | 9,861 | 11,809 | 7,320 | |||
| Health, Hygiene & Specialties (HHS) Division | 11,854 | 9,981 | 6,589 | |||
| Berry Global Total | 62,056 | 75,671 | 66,192 | |||
|
Greenhouse Gas Emissions |
||||||
| 2021 | 2022 | 2023 | ||||
| Absolute Operational Emissions | Amount and Percentage of Emissions | |||||
| MT CO₂e | Percentage | MT CO₂e | Percentage | MT CO₂e | Percentage | |
| Scope 14 | 149,684 | 8% | 143,100 | 8% | 144,025 | 8% |
| Scope 2 (Market-Based) 5 |
1,792,598 | 92% | 1,703,268 | 92% | 1,597,469 | 92% |
| Total Market-Based Emissions | 1,942,277 | 100% | 1,846,368 | 100% | 1,741,494 | 100% |
| Scope 14 | 149,684 | 7% | 143,100 | 8% | 144,025 | 8% |
| Scope 2 (Location-Based) 5 | 1,871,542 | 93% | 1,755,898 | 92% | 1,689,472 | 92% |
| Total Location-Based Emissions | 2,021,226 | 100% | 1,898,998 | 100% | 1,833,497 | 100% |
| Amount and Percentage of Emissions by Division (Market-Based) | ||||||
| MT CO₂e | Percentage | MT CO₂e | Percentage | MT CO₂e | Percentage | |
| Consumer Packaging International (CPI) Division | 520,274 | 27% | 494,634 | 27% | 452,302 | 26% |
| Consumer Packaging North America (CPNA) Division | 583,730 | 30% | 531,257 | 29% | 540,067 | 31% |
| Flexibles Division | 357,030 | 18% | 322,705 | 17% | 304,403 | 17% |
| Health, Hygiene & Specialties (HHS) Division | 534,820 | 28% | 491,304 | 27% | 432,889 | 25% |
| Transport Fleet | 8,994 | 0% | 10,849 | 1% | 11,832 | 1% |
| Corporate reductions 6 | -62,623 | -3% | -4,380 | 0% | 0 | 0% |
| Berry Global Total | 1,942,277 | 100% | 1,846,368 | 100% | 1,741,494 | 100% |
| 2023 | ||||||
| 2023 Greenhouse Gas types 7 | Amount, by Greenhouse Gas type | |||||
| MT CO₂ | MT CH₄ | MT N₂O | ||||
| Scope 1 4 | 132,048 | 2,359 | 236 | |||
| Scope 2 (Market-Based) 5 |
1,588,444 | 1,531 | 2,616 | |||
| Total Market-Based Emissions | 1,720,492 | 3,890 | 2,852 | |||
| Scope 2 (Location-Based) 5 | 1,680,069 | 1,603 | 2,820 | |||
| Total Location-Based Emissions | 1,812,117 | 3,962 | 3,055 | |||
| 2021 | 2022 | 2023 | ||||
| Operational Emissions Intensity | Emissions produced per MT of Production (MT CO₂e/MT) | |||||
| Scope 1 4 | 0.036 | 0.036 | 0.040 | |||
| Scope 2 (Market-Based) 5 |
0.430 | 0.433 | 0.444 | |||
| Total Market-Based Emissions | 0.466 | 0.469 | 0.484 | |||
| Scope 2 (Location-Based) 5 | 0.449 | 0.446 | 0.470 | |||
| Total Location-Based Emissions | 0.485 | 0.482 | 0.510 | |||
| Market-Based Emissions produced per MT of Production by Division (MT CO₂e/MT) | ||||||
| Consumer Packaging International (CPI) Division | 0.641 | 0.639 | 0.648 | |||
| Consumer Packaging North America (CPNA) Division | 0.616 | 0.577 | 0.611 | |||
| Flexibles Division | 0.268 | 0.256 | 0.274 | |||
| Health, Hygiene & Specialties (HHS) Division | 0.497 | 0.500 | 0.480 | |||
| Transport Fleet | n/a | n/a | n/a | |||
| Berry Global Total | 0.466 | 0.469 | 0.484 | |||
| Absolute Value Chain Emissions | Amount and Percentage of Value Chain Emissions | |||||
| MT CO₂e | Percentage | MT CO₂e | Percentage | MT CO₂e | Percentage | |
| Total Scope 3 Emissions 8 |
10,422,500 | 100% | 9,873,281 | 100% | 8,667,007 | 100% |
| Purchased Goods and Services | 6,745,241 | 65% | 6,350,382 | 64% | 5,641,992 | 65% |
| Fuel & Energy | 457,983 | 4% | 449,043 | 5% | 360,463 | 4% |
| Capital Goods | 80,223 | 1% | 75,488 | 1% | 72,718 | 1% |
| Waste in Operations | 29,237 | 0% | 27,873 | 0% | 28,512 | 0% |
| Business Travel | 5,736 | 0% | 11,980 | 0% | 12,360 | 0% |
| Employee Commuting | 218,281 | 2% | 208,467 | 2% | 182,272 | 2% |
| Downstream T&D | 197,048 | 2% | 177,495 | 2% | 177,567 | 2% |
| Upstream T&D | 445,276 | 4% | 441,667 | 4% | 355,800 | 4% |
| End of Life of Sold Products | 2,243,475 | 22% | 2,130,884 | 22% | 1,835,324 | 21% |
2. Renewable Energy Certificates (RECs) are sometimes purchased at a corporate level to complement division-led renewable projects.
3. Reported numbers represent calculated annual savings from energy reduction and efficiency CapEx Projects implemented during the reported year and do not represent the total changes in energy for that year.
4. Scope 1 emissions are emissions from sources that our organization owns or controls directly – for example, combustion of fuel.
5. Scope 2 emissions are emissions from purchased energy - such as electricity and steam. Location-based emissions are calculated based on the average emission factor to produce electricity in the region where that electricity is used. Market-based emissions are calculated using our specific contracts, where available, including specific renewable energy power purchase agreements (PPAs) and Renewable Energy Certificate (REC) purchases.
6. Renewable Energy Certificates (RECs) are proactively purchased at corporate level outside of the divisional structure and then assigned to relevant facilities, reducing their emissions.
7. Internal investigations have determined NOx (Nitrous Oxides), SOx (Sulfur Oxides), and VOC emissions are de minimis, and we therefore do not report a company-wide number. Emissions from these sources are tracked at site level and, if applicable, are documented and reported in-line with site air operating permits.
8. Scope 3 emissions are indirect emissions resulting from upstream and downstream activities within our value chain.
Key Strategies
Climate Governance
The desire to create positive change and improve environmental sustainability, including climate, is an essential component of our culture at Berry and is shared among all levels of the organization. The Board of Directors and its committees align with our strategic priorities and oversee the execution of our Environmental, Social, and Governance (ESG) strategies as an integrated part of our overall strategy and risk management.
Berry Global’s Board of Directors holds the highest level of direct responsibility for decisions relating to the company’s strategy for addressing environmental issues, such as climate change. The board has oversight responsibility for risk management, including climate-related risk, ensures we operate to the highest standards in all aspects of climate governance and risk management and reviews the company's long-term sustainability strategic plans and the principal issues that the company will face in the future (including climate-related risks) during at least one Board meeting each year. The CEO has overall responsibility for risk management, including climate-related risk, as well as responsibility for our corporate sustainability goals, which includes greenhouse gas (GHG) emissions reduction and other climate-related metrics. The Nominating and Governance Committee has the primary responsibility to oversee the company’s ESG strategy, initiatives, and disclosure, including climate-related risks and opportunities. In addition, the Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities by reviewing and discussing with management the company’s major risk exposures and the results of an annual corporate-wide risk assessment, the related corporate guidelines, and policies for risk assessment and risk management – and this can include climate-related risk.
Climate-related risks are monitored by the CEO and the Board, including those risks identified during the Company’s annual Enterprise Risk Assessment process. The Chief Strategy Officer and his team, inclusive of the company VP Sustainability, also raise climate-related issues to the CEO independent of the Enterprise Risk Assessment (ERA) as they arise. The Berry Global Chief Strategy Officer reports directly to the CEO and is responsible for setting and implementing the overall strategy for Berry Global. Climate-related risks and opportunities inform the Company’s strategy and are monitored by the Chief Strategy Officer. The VP of Sustainability, whose role covers climate-related issues such as GHG targets, reporting and compliance, reports directly to the Chief Strategy Officer and completes an annual carbon and physical climate risk assessment in addition to the ERA. Results of this assessment are reported through the Chief Strategy Officer to the CEO and Board Chair.
- Holds overall responsibility for corporate strategy governance, performance, internal controls, and risk management, with oversight by the Berry Global Board.
- Monitors climate-related issues identified by the Company’s annual Enterprise Risk Assessment process.
- Reports directly to the CEO and is responsible for setting and implementing the overall strategy for Berry Global as informed by the results of the ERA.
- The VP of Sustainability, whose role oversees climate-related efforts, such as setting GHG targets, reporting, and compliance, reports directly to the Chief Strategy Officer and completes an annual carbon and physical climate risk assessment in addition to the ERA. Results of this assessment are reported through the Chief Strategy Officer to the CEO and Board Chair.
- Oversees all of Berry Global’s worldwide operations and reports directly to the CEO.
- Oversees and monitors climate-related issues, such as the company’s GHG emissions reduction strategy and supports the development and drives the execution of operational and climate goals.
- Reports directly to the CEO and is responsible for the annual ERA, a company-wide risk analysis that monitors, among other topics, climate-related issues, and associated risks.
Climate Strategy and Risk Management
Scenario Analysis
When developing our climate strategy, we consider multiple scenarios to better understand the wide range of outcomes that could affect our business. While some scenarios provide a benchmark for the outcomes of current policy, other scenarios are developed to outline the requirements to achieve specific warming goals.
When developing our Impact 2025 Sustainability Strategy, we used the IEA ETP 2DS climate-related scenario to model the impact on operations in comparison to a business-as-usual pathway, IEA 2016 STEPS (Stated Policies Scenario). Results of the scenario analysis determined a GHG emissions intensity reduction target which reflected our desire to conduct our business in line with limiting warming to 2°C. As a direct results of the 2DS scenario and GHG reduction target, further global reduction targets were calculated, and capex availability for energy reduction projects and renewable energy sourcing was put in place. This drove a clear focus on energy across the business to ensure emissions reductions are in line with our strategy and climate modelling. In 2021, we expanded our Impact 2025 strategy based on the IEA NZE20250 (Net-Zero Emissions by 2050 Scenario) pathway, which is compatible with modelling to limit warming to 1.5 degrees Celsius by 2100. As a result we set new appropriate science-based GHG emissions reduction target, approved by the SBTi, in line with a 1.5°C warming future. These targets are to reduce our Scope 1 and 2 emissions 25% by 2025 from a 2019 baseline, and reduce our Scope 3 emissions 25% over the same timeframe. In 2023, we also formally committed to achieving net-zero emissions by 2050. Our GHG emission reduction targets are the cornerstone to our climate strategy, and continue to be supplemented by further targets within our Impact 2025 strategy to initiate transition to a net-zero world.
IEA Stated Policies Scenario (STEPS)
The STEPS Scenario lays out future outcomes based on assessment of the specific policies that are currently in place, or have been announced, by governments around the world. As this Scenario is based on current policy decisions, which are ever evolving, the scenario’s outlook changes over time. The most recent scenario is the 2021 STEPS.
Under the scenario, global average surface temperature would reach 1.5°C before 2030, with temperatures continuing to climb, reaching 2.6°C in 2100. Warming such as this would lead to heightened frequency and intensity of climate-related disasters and increased climate risk on our business and our industry.
Focusing on our industry, under the STEPS scenario, global plastics recycling rate is expected to only reach 20% by 2030. With continued low recycling rates, and therefore lack of alternative recycled feedstock available, it would mean less opportunity to move away from a product portfolio which is heavily virgin based. Increased demand for oil from the Petrochemical sector, amongst others, will additionally lead to increased oil prices as new oil supply lines will be required to meet demand. With crude oil remaining the predominantly available plastic feedstock, this would exert price-pressures on our business. Remaining on a STEPS trajectory would be unilaterally detrimental to our business.
IEA ETP 2DS Scenario
The IEA ETP 2DS Scenario outlines a potential pathway with at least a 50% chance to limit average global surface warming to 2°C by 2100. Compared to the IEA STEPS scenario, this scenario requires a challenging global transformation of how energy is produced and used.
While energy usage continues to rise under the 2DS Scenario, emissions from the energy section would be required to fall to one-quarter of 2017 levels by 2060, with fossil fuels only providing 35% of primary energy demand. For the chemical and petrochemical sector to thrive under a 2DS Scenario, annual direct CO₂ emissions increases must remain below 3.6% up to 2025 while demand increases by 47%.
Increased pre-and post-consumer recycling will be required to decarbonize the industry sector, by providing process pathways that are more energy-efficient than conventional virgin-based resin pathways. In addition, bio-based routes for downstream plastic products are further avenues for sector decarbonization.
Analysis of this Scenario in 2019 helped shape our principal forward-looking sustainability strategy, Impact 2025, and progressed the transition of our business towards a lower carbon future.
IEA NZE Scenario
The IEA NZE scenario sets out a potentially achievable pathway to achieve net-zero emissions by 2050. The scenario shows what is needed, and by when, for the world to achieve net-zero energy emissions by 2050. The Net Zero scenario would mean a huge decline in the use of fossil fuels, with the fossil fuels that remain in 2050 being used in goods where the carbon is embodied in the product such as plastics, or in facilities fitted with Carbon Capture Utilization & Storage (CCUS).
Although growth will slow in comparison to the previous two decades, under this scenario global demand for primary chemicals will still be 30% higher in 2050 than in 2020 - appropriate plastic solutions will continue to see growth opportunities. The chemicals sector will, however, need to reduce emissions from 1.3 Gt in 2020 to 65 Mt in 2050. Amongst other solutions, this will be achieved through increased recycling - under this scenario, global plastic recycling collection rates would hit 27% by 2030 and 54% by 2050 - to aid a transition away from virgin-based plastics to recycled and reused plastic, removing GHG emissions from the chemical production industry. For our business, this would mean a required transition towards increased use of recycled resin. The remaining use of virgin resin would need to be produced through CCUS applications, using hydrogen-based solutions, or with electrolysis, to remove carbon emissions from the process. The IEA NZE Scenario provides the guidance for the required transition to thrive in a zero-carbon, circular economy.
Identifying and Classifying Risks and Opportunities
Berry Global performs multiple risk management processes annually in relation to climate change risk:
- The multi-disciplinary Berry Global Enterprise Risk Assessment (ERA)
- An annual carbon risk assessment in line with TCFD guidelines
- Regular meetings with key resin suppliers to assess carbon risk
Berry Global ERA
The Berry Global Enterprise Risk Assessment (ERA) is completed on an annual basis. The ERA identifies risk through various processes. Approximately 35 members of the Berry senior management team from across the Company are interviewed to identify risks they perceive as being applicable to the business. These interviews are conducted across several geographies and functional areas such as legal, division leadership, finance, human resources, purchasing, and sustainability in order to obtain results representative of the global operations of Berry. A questionnaire is also sent to approximately 100 management employees, representing a mix of job functions and geographic locations across the organization, to identify any further risks. The information from both processes is then gathered in a central database, where risks are categorized by approximately fifteen themes including supply chain (upstream), production (direct operations), infrastructure, and external market forces (downstream). Supply chain themes such as resin purchases and production themes such as energy usage and product design are inherently linked to climate change. Each risk identified is rated based on its potential impact (insignificant to catastrophic), the likelihood of occurrence (unlikely to almost certain) and speed of onset (immediate to long-term). Each of the ratings are associated with a risk score; the higher the impact, likelihood, or speed of onset, the higher the risk score for each risk identified. The top five risk themes are then extracted from the risk database, transcribed into a report that details the inherent risk and key mitigation activities. This report is submitted to the Audit Committee and the Board for appropriate mitigation plans to be actioned against the most significant risks identified by the process.
Annual Carbon Risk Assessment
In addition to and contributory to the ERA, an annual carbon risk assessment and physical risk assessment are also performed in line with Task Force on Climate Related Financial Disclosures (TCFD) guidelines. Risks are assessed on a country-by-country basis and therefore including the UK and other countries globally. The Berry Global GHG inventory is used to estimate the current portion of energy costs based on the latest regulatory information and to calculate our associated transitional risks. Transitional carbon risks are then estimated based on a variety of scenarios using different carbon prices, geographies, and time horizons. Physical risks are analyzed using locational data and historic climatic events. Like the ERA, each identified risk is rated by risk impact, likelihood of occurrence, and speed of onset. The results of this assessment are reported to the Chief Strategy Officer, CFO and CEO.
Alongside the annual risk assessment, transitional risks are assessed across the Company at both site and divisional level through automated, real-time dashboards that continually monitor energy use and GHG emissions based on usage data. Localized risks can be identified and mitigated where usage data is above operational norms and if necessary, can be escalated through the climate governance team. Monitoring of data in this way allows a more frequent response to risks and opportunities than the annual Enterprise Risk Assessment.
Supplier Meetings
Frequent meetings are held with key suppliers to understand their progress against organizational climate goals and timing of lower-carbon solutions. These meetings help to incorporate supplier strategies and input when developing our pathway to achieving our Scope 3 value chain GHG emissions goals. The feasibility of many climate scenario pathways hinges on divisional alignment and adapting their strategic planning to ensure required market conditions and future technologies are incorporated.
Identified Risks and Opportunities
Climate risk can be categorized into several different risk types that are included within our climate risk assessments and considered relevant to our business. Forward looking climate risks are grouped into time horizons which are defined as follows:
| Short-term | 0-3 years |
| Medium-term | 3-6 years |
| Long-term | 6+ years |
Once identified, the required risk management plan is dependent on the potential risk impact level and risk type, and the targeted risk source. Regulatory transitional risks generally require a chance to our direct operations, such investments in renewable energy and carbon offsets, and the implementation of energy efficiency projects, while transitional market risks management plans emphasize changes to our product portfolio. Management plans for acute physical risk mitigation focus on minimizing the personal cost-impact on our business in addition to generalized prevention through stakeholder interaction.
Climate risk types are set out below with a brief description of each.
Current Regulation
As we operate in the manufacturing sector, with energy making up a significant portion of operational spend, current climate change regulations can significantly affect the company.
Emerging Regulation
Current and future carbon prices as called for by regulation can significantly affect the company, with projections for large increases expected in carbon prices globally.
Technology
Technology is a key climate related risk considered by Berry’s risk assessment process. Technology is an important lever for reducing both energy intensity in Berry Global’s operations as well as the emissions intensity of the energy we purchase. Risks related to energy cost management are identified during site risk assessments and the development of energy efficiency programs is actioned to mitigate risks in this area.
Legal
The Berry risk assessment process is all encompassing, and we stay up to date on climate-related issues, including lawsuits.
Market
Market shifts and forecasts around fossil fuels are closely monitored since fossil fuels represent not just our primary energy sources, but also the primary source for most of our raw materials.
Reputation
Berry Global has identified increased risk associated with general perception of the products, including adverse publicity regarding plastic waste on the environment. The company already produces a considerable number of recyclable products and through innovation will continue to collaborate with customers to meet any change in demands and to reduce the carbon footprint and therefore the climate impact of products supplied.
Acute Physical
Berry Global businesses face the potential risk of operations being affected by disruption due to loss of supply, failures with technology, industrial disputes and physical damage arising from extreme weather events, such as flooding. The occurrence of these events might be significantly influenced by climate change. The loss of essential services or supplies could have a significant impact on Berry’s ability to service its customers.
Chronic Physical
Chronic physical risks are considered in the analysis of external risks. External risks occur in the environment outside the company and these risks tend to be those where the company has little or no control over the cause including the physical environment, political, legal, economic, social, cultural, and demographic factors.
The results of the above noted risk assessment processes have highlighted the below as examples of the most prevalent climate risks and opportunities impacting our business.
Risks:
| Risk Type |
Current/emerging regulation |
| Risk Driver Summary |
Carbon Pricing Mechanisms |
| Value chain location | Direct Operations |
| Primary Impact | Increased Operating Costs |
| Time Horizon | Short-term |
| Likelihood | Likely |
| Magnitude | High |
| Risk Description | Berry Global uses over 5.6 million MWh of energy annually and has a Scope 1 & 2 CO2e footprint of almost 1.75 million MT. With the increased use of carbon pricing, this has the potential to increase our direct cost of energy. This increase in price is expected to be far higher than the typical price of inflation, and therefore it is considered to have a substantive fiscal impact on every facility that currently uses non-renewable energy, and a medium magnitude on our business as a whole. |
| Expected Risk Impact | Anticipating of an average global Carbon Tax of $120 USD/MT CO2e in 2030, and factoring in that we have sites in many different regions; some sites that lie in areas that have already implemented a carbon pricing structure, while others operate in jurisdictions that do not currently have carbon pricing, we can estimate a potential total annual Carbon Tax risk annually of $222 million in 2030, compared to $27 million currently, which is an average annual increase of $24 million per annum. |
| Risk mitigation | In order to completely mitigate the potential impact of carbon taxes, we would need to offset our direct use of energy onsite; our Scope 1 emissions, and purchase renewable energy to eliminate Scope 2 emissions. Based on our 2022 Fiscal year Scope 1 emissions and a current cost to offset these emissions of $35 USD/MT CO2e, we estimate the annual cost of offsetting these emissions to be between $4.5m USD. Based on our 2022 Fiscal Scope 2 emissions and an average REC price of $5 USD, we estimate the annual cost of purchasing 100% renewable energy to be around $24.8m USD. This should be considered a conservative, worst-case scenario estimate; in-practice, more cost-effective methods would be used to reduce energy usage. |
| Risk Type | Emerging regulation |
| Risk Driver Summary |
Carbon Pricing Mechanisms |
| Value chain location |
Upstream Value Chain |
| Primary Impact | Increased raw material costs |
| Time Horizon | Medium-term |
| Likelihood | Likely |
| Magnitude | High |
| Risk Description | Increased use of carbon pricing has the potential to increase energy costs for Berry’s raw material suppliers, when this cost is passed down the supply chain it therefore becomes a risk for Berry Global related to increased raw material costs. Where raw material suppliers are exposed to increased/new carbon prices, we expect to have raw material cost increases above typical inflation; a substantive fiscal impact for impacted facilities, and a medium magnitude on our business as a whole. |
| Expected Risk Impact | Berry Global has committed to net-zero by 2050, with an SBti approved, short-term target of a 25% reduction in Scope 3 emissions by 2025 from a 2019 baseline. In-line to achieving net-zero, we would be working towards a 50% reduction by 2030 from a 2019 baseline. Although we expect to be on-track to hit these goals as part of our net zero strategy, under a worst-case scenario we can assume no further reduction in GHG Emissions relating to purchased resin from our 2022 total of 4.7 million MT CO2e. If all carbon tax increases are passed on to us, with an anticipation of an average Carbon Tax of $120 USD/MT CO2e in 2030 under NZE Scenario. This results in an increased Medium risk in 2030 of $564 million USD annually, based on the assumptions listed above, and a short-term potential risk increase of $70.5 million USD for 2023. |
| Risk mitigation | Historically, we have been able to successfully manage the impact of higher raw material costs by increasing our selling prices. Sales contracts have cost pass-through clauses wherever possible. Additionally, we meet with our critical resin suppliers on a quarterly basis to drive them to reduce their emissions, through energy efficiency and the procurement of renewable energy to replace conventional energy sources. This would therefore reduce the impact of carbon pricing on their business, and associated cost impacts passed on to us. Over the last 10 years we have seen emissions factors associated with resin production falling substantially; US produced PP has fallen 18% over a 10-year period for example. If this trend continues, it will mitigate a large portion of the Potential Impact Figure. |
| Risk Type | Market |
| Risk Driver Summary |
Changing Consumer Behavior |
| Value chain location |
Direct Operations |
| Primary Impact | Decreased Revenues |
| Time Horizon | Long-term |
| Likelihood | Unlikely |
| Magnitude | Medium-high |
| Risk Description | As the world shifts to a low-carbon economy and consumers become more aware and educated about climate change, it has the potential to negatively impact consumers' view of fossil fuels and cause them to move away from the purchase of products that utilize fossil fuels in their manufacture. The primary raw material of Berry is polymer resin derived from fossil fuels therefore posing a risk to the products that Berry manufactures. |
| Expected Risk Impact | As identified by studies such as by the UK and European Plastics Pacts, consumer perception of packaging's sustainability will be a key driver over the next 10 years. In some cases, other material substrates may be considered by consumers as more sustainable, and therefore there is potential to have a decrease in revenue. The CPI & CPNA divisions of Berry manufacture fast moving consumer goods packaging where numerous other substrates are available from competitors that could be perceived as more environmentally conscious materials, despite the fact that plastic packaging often has a lower carbon footprint than alternative materials. Therefore, we have estimated the risk of a potential loss of 1% of total sales of fast-moving consumer goods (FMCGs). A 1% loss in sales from these would be in the order of magnitude of $78 million USD. |
| Risk mitigation | As part of our materiality assessment, we ask our key customers about their long-term vision for their products and partner with them to realize that vision. We would therefore not be blindsided by a large-scale shift. We also regularly monitor market trends, based on both external research, internal consumer research, and ultimately sales data - we would be one of the first to know if the market was shifting away from plastics. Additionally, we work with customers to educate them on the benefits of plastics and our products. We also work in our communities as well as with trade associations to educate end-consumers on the benefits of plastics. |
| Risk Type | Acute Physical |
| Risk Driver Summary |
Loss of production capacity |
| Value chain location |
Direct Operations |
| Primary Impact | Decreased Revenues |
| Time Horizon | Short-term |
| Likelihood | About as likely as not |
| Magnitude | Medium-Low |
| Risk Description | Berry Global operates in some geographic regions that are at acute physical climate risk from extreme weather events such as flooding e.g., mainland European manufacturing facilities, drought e.g., African manufacturing facilities, or storm/hurricane impacts e.g., South East USA. In many cases where this risk is apparent, some continuity of supply can be maintained by transferring business to alternative Berry sites, reducing the risk. |
| Expected Risk Impact | Any loss of business due to extreme weather events would adversely affect profit, depending on the size of the event and the number of sites that are affected. Excluding deductibles, the impact of Hurricane Laura in 2020 lead to total insurance claims over $10 million USD for business interruption & property damage, CBI, and incremental costs - relating to a resin shortage. The impact of Winter Storm Uri in 2021 on our business sat in the region of between $10 million USD and $20 million USD. Based on the data above, we can estimate that the potential upper limit impact on our business as a result of each extreme weather event lies around $20 million USD. There have been a number of smaller-impact extreme weather events over the last 10 years where costs have been in the region of $2-5million USD, so $2million USD will be used as a lower limit. |
| Risk mitigation | The primary method to manage this risk is through insurance. Potential insurance deductibles for each extreme weather invent lie in the region of $1 million USD for business interruption, property insurance and other incremental costs. This is the minimum cost to any response to mitigate the impact of an extreme event that has a substantial effect on our business. Additionally, we pay annual premiums for this insurance which are not included in our Cost of Response figure. |
| Risk Type | Emerging Regulation |
| Risk Driver Summary |
Regulation of existing products and services |
| Value chain location |
Downstream |
| Primary Impact | Decreased Revenues |
| Time Horizon | Medium-Term |
| Likelihood | Likely |
| Magnitude | Low |
| Risk Description | The effects of climate change are leading to the potential introduction of new regulatory changes including mandates on plastic packaging. The current proposal of the Packaging and Packaging Waste Directive from the European Commission proposes a requirement to allow only packaging that is designed for recyclability by 2030. Companies are now looking for materials that can offer the same benefits as PVC film but demonstrate an improved environmental profile. |
| Expected Risk Impact | The current proposal of the Packaging and Packaging Waste Directive from the European Commission that is now under review proposes a requirement to allow only packaging that is designed for recyclability by 2030. As a result of these developments, food companies are now looking for alternative materials that can offer the same benefits as PVC film but demonstrate an improved environmental profile. If we are unable to adapt and design reformulated products that are considered recyclable, then there is significant risk of losing that business. Our PVC film business in Europe, which is considered unrecyclable under potential incoming mandates, is between 3 – 4 million dollars per annum. The business accounts for over 50% of one site’s total business, and could mean site closure if the business was lost. |
| Risk mitigation | The primary method to manage this risk is through development of a new, recyclable, alternative solution. This requires research and development spend and the purchase of new lines for production. For development of a replacement for this business, we estimate this will require one-off costs of $500,000 in R&D and around $3,000,000 in new equipment. Once in place, additional extra costs will be negligible. |
Opportunities:
| Opportunity Type | Products and Services |
| Opportunity Driver Summary |
Development of New Products |
| Value chain location |
Downstream Value Chain |
| Primary Impact | Increased Revenues |
| Time Horizon | Short-term |
| Likelihood | Likely |
| Magnitude | High |
| Opportunity Description | For most of Berry Global’s customers, Scope 3 GHG emissions represent the largest portion of their total GHG emissions. We anticipate that will drive demand for products with lower emissions intensity. Plastics are already very well positioned since they typically have lower GHG emissions per functional unit than alternatives. Furthermore, Berry has a long history of light-weighting our products - further reducing their carbon intensity, and we working to increase our use of recycled content, which has lower associated GHG emissions than virgin resin. |
| Expected Opportunity Impact | Factoring in the likelihood of this opportunity to be realized, we estimate that new business as a result of our ability to provide low-carbon products could lead to around a 1% increase in revenue. We do not expect all of our customers to change at once. We anticipate the transition may be relatively slow. A 1% increase in revenue would result in an opportunity in the region of $145,000,000 USD. |
| Opportunity Type | Energy Source |
| Opportunity Driver Summary |
Direct emissions reduction |
| Value chain location |
Direct Operations |
| Primary Impact | Returns on investment in low-emission technology |
| Time Horizon | Short-term |
| Likelihood | Virtually Certain |
| Magnitude | Low |
| Opportunity Description | To aid our commitment to reducing our greenhouse gas emissions, we have the opportunity to enter into Purchase Power Agreements (PPAs) or Virtual Purchase Power Agreements (VPPAs). These would allow us to increase our renewable energy consumption, whether it be via a physical connection, or ownership of RECs, to reach our environmental goals, whilst also having the potential to save capital when electricity rates fluctuate. |
| Expected Opportunity Impact | A VPPA exchanges the variable OMIP market price for electricity against a fixed price per MWh based on our purchase annually. Therefore, the exact gains that will be realised will depend upon the actual market prices experienced during this period. The VPPA contract opportunity we are currently realizing had an estimated value of around $1 million, which it has far exceeded - while future ventures might not be as profitable. Based on this, we have set a Potential Impact figure of $0-$5m USD. As we investigate other vPPA opportunities we anticipate similar expected returns within this range. |
| Opportunity Type | Energy Source |
| Opportunity Driver Summary |
Direct Emissions Reduction |
| Value chain location |
Direct Operations |
| Primary Impact | Reduced exposure to Carbon Pricing |
| Time Horizon | Long-term |
| Likelihood | Virtually Certain |
| Magnitude | High |
| Opportunity Description | Berry Global is committed to reducing our energy consumption and lowering our carbon footprint by procuring more low-carbon energy, as well as implementing energy reduction initiatives. For example, we have an internal program to reduce 100,000,000KWh of energy use annually, and are looking into avenues to increase our current share of renewable energy. Taking this action gives us the additional opportunity to have reduced exposure to the current carbon taxes that are in place, and any future risk from carbon tax increases. |
| Expected Opportunity Impact | We have committed to net-zero by 2050, with an SBti approved, short-term target reduction in place for 2025. In-line to achieving net zero, we would be working towards a 50% reduction by 2030 from a 2019 baseline. Although we expect to hit these goals, under a worst-case scenario we can assume no further reduction in GHG Emissions, To calculate the potential opportunity figure by eliminating emission versus this worst-case scenario we have calculated the total costs under an anticipation of an average Carbon Tax of $120 USD/MT CO2e in 2030 under NZE Scenario using current emissions. This results in an increased long-term risk in 2030 of $222 million USD annually. |
| Opportunity Type | Products and Services |
| Opportunity Driver Summary |
Development of New Products |
| Value chain location |
Downstream Value Chain |
| Primary Impact | Increased Revenues |
| Time Horizon | Medium-Term |
| Likelihood | Likely |
| Magnitude | Low |
| Opportunity Description | The effects of climate change are leading to the potential introduction of new regulatory changes including mandates on plastic packaging. The current proposal of the Packaging and Packaging Waste Directive from the European Commission proposes a requirement to allow only packaging that is designed for recyclability by 2030. Companies are now looking for alternative materials that can offer the same benefits as PVC film but demonstrate an improved environmental profile. We have the opportunity to develop new products that align with these mandates to replace current business and potentially capture new businesses if peers are unable to adapt. |
| Expected Opportunity Impact | Our current PVC film business in Europe, which is considered unrecyclable under potential incoming mandates, is between 3 – 4 million dollars per annum, so as a worst-case scenario we have the opportunity to retain this value. However, we have a larger opportunity to potentially capture new businesses if peers are unable to adapt. |
Metrics and Targets
Greenhouse Gas Emission Targets
We have committed to reduce our Scope 1 & Scope 2 emissions by 25% by 2025 from a 2019 baseline and reduce our Scope 3 emissions by 25% over the same period. These short-term Greenhouse Gas emission targets, officially validated by the SBTi, are in-line with limiting warming to 1.5°C and moving towards a net-zero future. We have also announced a net-zero target, committing to achieve net-zero by 2050 by reducing our emissions by over 90% from a 2019 baseline, offsetting any residual emissions. All targets are group-wide, in-line with the reporting boundaries below.
We established boundaries for reporting our GHG emissions by following an operational control method in line with the GHG Reporting Protocol and with guidance from the GHG Protocol’s Corporate Value Chain (Scope 3) Reporting and Accounting Standard. Under the operational control approach, we aim to report 100% of emissions from operations over which we have full operational control, including all manufacturing sites. To increase the ease of reporting and quality of the information reported, scope reports exclude energy used in offices and non-production facilities and emissions relating to refrigerants and welding gases. We estimate the total exclusions from our reporting amount to less than 5% of our potential total operational and value-chain emissions footprint. The Global Warming Potential (GWP) used in calculations of CO2e is taken from the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report (AR5). When calculating our market based GHG emissions, carbon offsets are not included, as offsets are not used to measure progress towards targets.
Boundaries for non-GHG emissions data reporting and targets are established under an operational control boundary, with data collected for the entire group for each fiscal year. For energy-related data points and targets, data from non-production facilities is excluded.
Other Emissions-related Targets
In order to ensure that we achieve our greenhouse gas emission targets, mitigate our climate risks and work towards achieving climate opportunities, we have targets relating to a number of key performance indicators (KPI’s). These KPIs all have an effect on either our operational or value chain emissions.
- 1% year-over-year reduction in annual energy intensity
- Increase renewable energy year-over-year
- 100% reusable, recyclable, or compostable packaging by 2025
- Lightweight products
- Increase use of circular plastics
- 10% recycled content across our packaging by 2025
Operational Greenhouse Gas Emissions
Efforts to manage and reduce our operational emissions primarily fall under three categories: electrification of combustion sources, reduction in energy demand, and the use of cleaner energy. We continue to work on projects in all three areas to realize our short-term and long-term operational GHG emissions goals.
Absolute Scope 1 and 2 market-based GHG emissions were 1.74 Million Metric Tons (Mmt) in 2023, 5.7% lower than 2022, and 25.6% lower than our 2019 baseline emissions of 2.34 Mmt. As such, we are proud to announce we have surpassed our 25% reduction target two years early. This was driven by our energy management processes, increased procurement of renewable electricity, an overall reduction in grid emission factors, and a decrease in production. We are now in the process of setting a new short-term operational greenhouse gas target for 2030.
Value Chain Greenhouse Gas Emissions
Our net-zero commitment also applies to our value chain emissions. Furthermore, in 2022 we set a near-term science-based target to reduce Scope 3 emissions 25% by 2025 versus our 2019 baseline, in line with limiting global warming to 1.5°C.
The majority of our overall GHG emissions reside in our value chain, representing 83% of our total emissions. The majority (65%) of our Scope 3 emissions occur from purchased goods and services. To minimize our Scope 3 emissions, we encourage our suppliers to develop low-carbon raw materials. We then collaborate with our customers to commercialize products we have made from those low-carbon raw materials.
In 2023, we calculated our Scope 3 GHG emissions to be just over 8.67 Mmt. This was a reduction of 12.2% from 2022, and 20.6% lower than our 2019 baseline of 10.91 Mmt. The decrease in value chain emissions resulted from a continued transition to purchasing circular resins with a lower carbon footprint than virgin, fossil-based resin as well as a reduction in overall resin and other goods purchases. We also saw small reductions resulting from lower energy and water procurement and operational waste production. Based on current progress, we are on track to achieve our Scope 3 science-based target by 2025. We will need to continue working with our suppliers and customers to increase the amount of recycled and renewable resins we use in our products, as these have far lower cradle-to-gate carbon footprints than traditional, virgin resin.
Total emissions from across our operations and value chain fell to under 10.42 Mmt in 2023, 11% lower than in 2022, and 21% lower than in 2019. This represents continued progress towards our recent commitment of net-zero by 2050. We fully anticipate achieving our first milestone on that journey, a 25% reduction by 2025.
Upstream & Downstream Transportation and Distribution
To understand the readiness of our over-the-road logistics partners to enable our mutual transition to net-zero, we request relevant energy and emissions information from current and potential providers. This includes information on fleet efficiency, progress on exploring zero-emission alternative transport methods, and commitment timelines for a net-zero fleet.
Our current focus is working with providers that manage their fleets most efficiently. We anticipate in the future that to maintain progress toward our net-zero commitment, we will either need to preferentially choose providers that offer zero-emission/lower emission transportation solutions or implement such requirements for our existing transportation providers.
Air Quality
Refrigerants and other Ozone Depleting Substances (ODS) are regulated as hazardous materials by the U.S. Environmental Protection Agency due to their ozone depleting ability and powerful greenhouse gas potential. Our sites comply with regulatory requirements by creating an inventory of units containing refrigerants above the regulated quantity, monitoring releases, and documenting associated leak rates. Other air emissions, such as NOx, SOx, and VOCs, are evaluated for applicability and relevance to the site operation and processes. If applicable to the site, they are tracked, documented, and reported via the site’s air operating permits and emissions inventory, where the applicability and limits are established and monitored.
Depending on each site’s local requirements for monitoring and tracking other air emissions, our facilities may be required to control the release of these emissions according to established permit limits. This helps to protect the environment and reduces our impact on the communities in which we operate. For the vast majority of our facilities, NOx, SOx, and VOCs are not a significant source and we are not required to report or mitigate these emissions.
Energy Management
We track our operational energy metrics for all manufacturing facilities for which we have operational control. This excludes energy from non-manufacturing facilities, such as offices and warehouses. A full list of exclusions is outlined in the Greenhouse Gas Emissions section. The majority of our energy use is derived from electricity, with over 99% of the electricity we use sourced from the electrical grid. We do not currently calculate or report annually the energy associated with value-chain emissions.
Absolute energy use in 2023 fell by 6.0% from 2022 to 5.62 million megawatt hours (MWh), mainly due to a decrease in overall production. Although absolute energy reduction is key to achieving our GHG emissions goals, we use energy intensity as our key performance indicator (KPI), MWhs per metric ton processed – with the goal of reducing energy intensity 1% per year. Unfortunately, despite the implementation of numerous energy efficiency projects and achieving our 100 Million kWh goal, our energy intensity rose 2.86% in 2022. While in-depth analysis is still ongoing, this increase can be mainly attributed to the energy inefficiencies of reduced production offsetting the improvements made through energy efficiency projects.
100 Million KWh Challenge
Renewable Energy
Because manufacturing is energy-intensive, effective energy management is one of our top priorities to minimize climate impact. We have a dual strategy to reduce our energy intensity and increase the use of renewable energy year over year.
In 2023 we used over 305,000 MWh of renewable electricity – 6.6% of our total electricity use and 5.4% of our total energy use. This represents both an increase in absolute usage and percent usage versus 2022, achieving our Impact 2025 target, with absolute renewable energy used increasing by 65%.
Disclosures
Contribution to the Sustainable Development Goals (SDGs)
An effective energy management program drives the growth of clean energy infrastructure, which in turn can accelerate the global transition to a sustainable energy system. We work to identify innovative clean energy solutions to reduce our emissions and promote a future with more sustainable energy.
To achieve sustainable economic growth of our business, in line with a net-zero and circular economy, we strive for continuous energy efficiency improvements, reducing operational costs and increasing the economic viability of our industry.
Through innovation in sustainable energy solutions and efficient industrial practices we drive the development of resilient infrastructure and promote sustainable industrialization as part of the transition towards a net-zero economy.
The adoption of sustainable energy practices reduces the amount of air pollution in urban environments. Through an increase in clean energy infrastructure, we are working to accelerate the transition to a sustainable, net-zero, energy system and improve the quality of our communities.
By working to improve our energy efficiency and reduce emissions, we help minimize our environmental impact and create responsible production and consumption patterns.
Our focus on energy efficiency and management directly addresses the call for climate action. By implementing strategies to minimize energy consumption and transition to renewable energy sources, we help reduce greenhouse gas emissions, combat climate change, and facilitate a net-zero world.
Achieving the global goal of net-zero emissions requires technological and industrial solutions from across the value chain, the implementation of positive government policies, and consumer behavioral changes. We collaborate with stakeholders to deliver a circular, net-zero future.
GRI and SASB Alignment
GRI 2-5 External Assurance
GRI 2-27 Compliance With Laws and Regulations
GRI 201-2 Financial Implications and Other Risks and Opportunities Due to Climate Change
GRI 302 (3-3) Energy
GRI 302-1 Energy Consumption Within the Organization
GRI 302-2 Energy Consumption Outside of the Organization
GRI 302-3 Energy Intensity
GRI 302-4 Reduction of Energy Consumption
GRI 302-5 Reductions in Energy Requirements of Products and Services
GRI 305 (3-3) Emissions
GRI 305-1 Direct (Scope 1) Green House Gas (GHG) Emissions
GRI 305-2 Energy Indirect (Scope 2) GHG Emissions
GRI 305-3 Other Indirect (Scope 3) GHG Emissions
GRI 305-4 GHG Emissions Intensity
GRI 305-5 Reduction of GHG Emissions
GRI 305-6 Emissions of Ozone-Depleting Substances (ODS)
GRI 305-7 Nitrogen Oxides (NOx), Sulfur Oxides (SOx), and Other Significant Air Emissions
SASB RT-CP-110a.1 Gross Total Scope 1 Emissions, Percentage Covered Under Emissions-Limiting Regulations
SASB RT-CP-110a.2 Discussion of Long-Term and Short-Term Strategy, or Plan to Manage Scope 1 Emissions, Emissions Reduction Targets, and an Analysis of Performance Against Those Targets
SASB RT-CP-120a.1 Air Emissions of the Following Pollutants: (1) NOx (excluding N2O) (2) SOx (3) Volatile Organic Compounds (VOCs) (4) Particulate Matter (PM)
SASB RT-CP-130a.1 (1) Total Energy Consumed (2) Percentage Grid Electricity (3) Percentage Renewable (4) Total Self-Generated Energy
Last updated: June 7th 2024