Taking our net zero goals to the next level

After a restful Christmas and New Year I am pleased to say that 2022 has got off to a fast start for DS Smith.

Following our strong Half Year results before Christmas, today we are hosting an investor seminar which aims to provide attendees with a deep dive into the evolving trends in sustainable packaging, plastic replacement and our leading customer offering and innovation to benefit from these trends and drive growth.

Alongside delivering even more circular solutions for our clients in 2022, I am delighted to announce that we are starting the year by accelerating our carbon reduction plans for our own operations as well as those of our partners and suppliers.

Back in June 2021, we announced a science-based target which requires at least a 40% reduction of CO2 emissions per tonne of product by 2030, compared to 2019 levels, and a commitment to reach Net Zero emissions by 2050.

This morning we’ve announced an update on these targets that we believe strongly illustrates DS Smith’s ambition in reducing carbon, a key part of our Now and Next sustainability strategy. In conjunction with the Science Based Targets Initiative (SBTi), we’ve committed to the following:

• A 1.5°C temperature alignment of our operations as set out in the Paris Climate Agreement
• A 46% reduction of our Scope 1, 2 and 3 greenhouse gas emissions on an absolute basis by 2030, compared to 2019 levels
• Investing consistently in our own operations over the next 28 years to 2050 to ensure our goals and targets can be delivered on

In addition, following feedback from many of our stakeholders on the topics of emissions and the circular economy, DS Smith will also encourage all of our suppliers to adopt science-based targets themselves by 2027 and will work closely with them to collectively tackle climate change.

Underpinning all of the above will be an ambitious Net Zero transition plan which will set out the key strategic actions and milestones that will take us to Net Zero by 2050. Crucially, this will be periodically updated, supported by robust governance processes and regularly communicated to our stakeholders. I look forward to updating you all when this plan is published later this Summer.

In the meantime do visit our website to read more about today’s announcement