Pact Group will extend its ‘war on waste’ to 2025, a date earmarked by companies such as Frucor Suntory and Unilever in their own commitments to sustainability.
In its full-year results, Pact announced the Pact 2025 initiative, which commits the company to eliminating all non-recyclable packaging; implementing solutions for reducing, reusing and recycling all single-use secondary packaging in supermarkets; and offering 30 per cent recycled content across its entire packaging portfolio.
According to Malcolm Bundey, CEO (pictured above), as the largest processor and consumer of post-industrial recycled resin in Australia and New Zealand, Pact Group is already playing a part in building a more sustainable industry.
“We have a shared responsibility to protect the environment, and I am proud of Pact’s contribution. We are large recyclers and use recycled materials in many of the products we make,” he said.
“Pact 2025 is a bold aspiration and it sets the Group clear targets to continue to reduce waste and minimise environmental impacts, whilst supporting our customers with product solutions to achieve their sustainability agendas.”
In the year ending 30 June 2018, Pact Group sales revenue increased 13 per cent over the 2017 financial year; however, net profit after tax before significant items dropped five per cent to $95 million. Bundey attributed this to costs of raw materials and energy, among other factors.
“Against these headwinds, we have been strongly focused on driving efficiency. We have delivered improvements in the business through our operational excellence programs and we have commenced transformation of our rigid packaging network.
“We have been challenged by the macro environment, and this is reflected in our earnings. However, we remain focused on managing the levers within our control, and our business remains strong,” he said.
