Weener Plastics (WP) has received the Excellence in Environmental, Social and Governance (ESG) award in the category Portfolio Company from the British Private Equity & Venture Capital Association (BVCA). London-based 3i Group, a multinational private equity and venture capital company, submitted its portfolio company WP for this prestigious award. Adrian Whitfield, CEO of WP, was handed the award during the BVCA Summit on October 7, 2021.
"The submission strongly demonstrated evidence of best practice in ESG integration and engagement during the year and the judges were very impressed with the entry," stated the BVCA. "We recognize the vital work our members are undertaking to embed responsible investment principles and practices."
"As a plastic packaging manufacturer, WP recognizes the role we must play in developing innovations that contribute to a circular economy as well as a more sustainable future," commented Adrian Whitfield. "We have not only reduced consumption of raw materials and logistical emissions through product design, but have also implemented multiple ongoing ESG initiatives across our global organization. The importance of sustainability and CSR in the considerations of all our stakeholders, including our customers and their end-users, is one of our most important sources of motivation."
In spite of current challenges, WP has successfully rolled out a detailed program for continuous improvement on sustainability and ESG topics. The company has defined clear targets and ambitions and embedded them into its strategy. WP's focus is on recyclable, re-usable or re-fillable products, an ambitious commitment to reduce its direct carbon footprint by 70% by 2030, and a 'zero waste to landfill' profile target by 2025.
These initiatives were communicated in WP's first Sustainability & CSR report, issued earlier this year. WP has also become a signatory partner of the United Nations Global Compact, and in September WP's continuous improvements were awarded Silver Medal recognition by the EcoVadis platform, with a score placing WP in the top 7% of companies assessed by EcoVadis in the Manufacture of Plastics Products industry.
08 Oct 2021