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26 June 2024 / Quick Take
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Copy LinkDespite an increase in sustainable packaging policy disclosures among S&P 500 and Russell 3000 companies, progress remains slow. In 2023, fewer than one-third of S&P 500 companies and less than one-fifth of Russell 3000 companies disclosed a sustainable packaging policy, reflecting a 2% and 6% increase respectively since 2021. Unsurprisingly, companies in sectors where packaging plays a more significant role, such as consumer staples, consumer discretionary, information technology, health care, and materials, have higher disclosure rates.
The business case for sustainable packaging—the design and use of packaging materials that have the lowest environmental impact—is that it can enhance brand reputation, meet consumer and customer demand for sustainable products, comply with regulatory requirements, and lead to cost savings through reduced waste and improved operational efficiency. This applies to companies in both the direct-to-consumer (B2C) and business-to-business (B2B) categories since many B2B customers have sustainability goals and requirements in their procurement processes.
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