Glass Industry News

O-I Glass Recognized for Sustainable Advancements

, O-I Glass

O-I Glass, Inc. (“O-I Glass” or “O-I”) has received two significant acknowledgments for its continued Sustainability transformation. EcoVadis upgraded O-I’s rating to Silver (2021: Bronze), and Sustainalytics awarded O-I with an ESG Regional Top-Rated performer classification.

“Our vision is to be the most innovative, sustainable, and chosen supplier for brand-building packaging solutions,” said Andres Lopez, Chief Executive Officer for O-I. “We believe glass is the most sustainable and best option for food and beverage packaging. And, we have taken bold action in how we define and measure sustainability in the production of that sustainable packaging as we work to re-invent the industry. These milestones are validation of tangible progress in our sustainable journey and a deserved recognition of our passionate glassmakers that work to transform our culture and our shared communities to enable a sustainable future for all.”

Beginning in 2020, O-I refreshed its business strategy, including the elevation of sustainability to a global function through the appointment of its first Chief Sustainability Officer and the development of a sustainability network across the company’s global footprint. Coming out of this transformation, O-I became the first glass packaging company to receive approval from the Science-Based Targets initiative for its emissions reduction goal. The company has continued to expand its sustainability initiatives, as well as doubling the number of goals under these strategic initiatives as was documented in the release of its most recent sustainability report.

As an ESG Regional Top-Rated performer, O-I was recognized by Sustainalytics as a strong outperformer in managing ESG risks with a “low risk” score. Sustainalytics is a provider of analytical environmental, social, and governance research, rating, and data to institutional investors and companies. The Top-Rated ESG designation is awarded on an annual basis to companies that excel at managing their ESG Risk Ratings.

Sustainalytics classifies a company as a part of its comprehensive universe or core universe primarily by its market capitalization as well as its inclusion in major global and regional indexes. Sustainalytics’ Core Framework covers 20-30 management indicators, whereas its Comprehensive Framework covers over 70 management indicators.

O-I also received an upgrade to a silver sustainability rating by EcoVadis, the world’s most trusted provider of business sustainability ratings, intelligence, and collaborative performance improvements for tools for global supply chains. The silver rating places O-I in the top 25 percent of all the companies evaluated by EcoVadis. According to EcoVadis, a silver designation demonstrates awareness and respect that companies have for sustainability, business ethics, the environment, human rights, and sustainable procurement.

“Our vision at O-I for a sustainable future is here, today,” said Randy Burns, Vice President, Chief Sustainability and Corporate Affairs Officer for O-I. “Our sustainability ambitions for today and tomorrow are grounded in the same resiliency created by our foundational commitment to innovation and transformation of our products, processes, and relationships with our stakeholders. This recognition is an acknowledgment of achieving balance across this ecosystem and will be a driving force for creating an organization designed for the long term modeled on this evolving balance.”

 

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