Novolex, a US-based packaging and food services company, has released its sixth annual Sustainability Report, highlighting how its environmental, social and governance initiatives evolved over the past year.
The new report has been written in compliance with the Global Reporting Initiative.
Amongst the accomplishments in 2023 detailed in the report are the company’s increased revenue from products that are recyclable, compostable, or reusable (from 78% in 2022 to 84% in 2023); a 23% reduction in greenhouse gas emissions; and an increased use of recycled content.
In 2023, 23% of Novolex’s total purchased plastic resin by volume was recycled (19% PIR and 4% PCR). That compares to 21% in 2022, with a 18% and 3% share of PIR and PCR content, respectively. Novolex said the growth in PCR volume was largely driven by increased utilisation at its American rigid plastics business, Waddington North America.
The report reinforces last year’s commitment to double the recycling of post-consumer films at Novolex’s recycling facility North Vernon, Indiana, by 2024. The company said it would give an update on its progress in next year’s sustainability report. In 2023, Novolex announced it will operate a new recycling facility for Nova Chemicals, expanding the collection of post-consumer film and the production of recycled material.
Bio-based resins in the Novolex portfolio remained at 2% of its total resin sourcing volume. In 2023, the company launched the Veridian portofolio of eco-products, including cups, lids, containers and cutlery designed to meet state labelling requirements for food packaging to be clearly marked as compostable starting in 2024.
All Veridian packaging is clearly marked with the word ‘Compostable’ and uses green or brown tinting and striping that further distinguishes it from non-compostable counterparts. Veridian products have been certified compostable by the Biodegradable Products Institute and display the Biodegradable Products Institute (BPI) certification accordingly.
“Across our facilities, we continue to elevate our efforts to be a best-in-class company in sustainability, and I’m proud of the progress we made in 2023,” said Stan Bikulege, Novolex CEO. “Our plants continued to expand their safety programs to reduce risk, and teams worked closely with customers to provide packaging solutions that meet their sustainability goals. Novolex also played key roles in policy discussions shaping our industry's future and enabling us to continue to develop innovative and sustainable packaging solutions,” he concluded.