Berry Global Group, Inc. has achieved an "A" rating in environmental, social, and governance (ESG) from the prominent international ratings agency MSCI. This recognition reflects Berry Global's notable progress in managing ESG-related risks and opportunities, particularly in areas such as Carbon Emissions, Labor Management, and Packaging Material and Waste.

Tom Salmon, CEO of Berry Global, expressed gratitude for this accolade, emphasizing the company's commitment to transparency and its dedication to addressing critical environmental and social issues across its global operations. He highlighted the company's focus on fortifying its resilience against long-term ESG risks while lauding the improved "A" rating as evidence of Berry Global's ongoing investments in its workforce and its determination to reduce the environmental impact of its packaging, with the aim of achieving net-zero emissions by 2050.

Notable improvements were observed in various categories, with the most significant being in the "Carbon Emissions" category. This enhancement was attributed to Berry Global's sustained trend of reducing emissions over the long term, external validation of value chain (Scope 3) emissions, and the recent commitment to achieving net-zero emissions by 2050. Additionally, Berry earned recognition for its efforts in "Labor Management," driven by endeavors to measure and enhance employee engagement and the widespread use of variable incentive (bonus) programs. Furthermore, the company earned the highest rating among its plastic packaging peers in the "Chemical Safety" category, acknowledging its robust measures to ensure the safety of Berry's products, which meet stringent standards for consumer safety through initiatives like its Restricted Substances List and Product Safety and Quality Management Policy.

MSCI ESG Ratings provide an assessment of a company's management of financially relevant ESG risks and opportunities. This assessment is based on a rules-based methodology that identifies leaders and laggards within industries regarding their exposure to ESG risks and their effectiveness in managing these risks relative to their peers. The ultimate outcome is the company's overall ESG Rating, presented on a seven-point letter rating scale ranging from AAA to CCC, relative to its industry peers.

The methodology primarily relies on publicly available data, encompassing financial and sustainability disclosures made by companies, including reports following standards like the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD). For more information on Berry Global's sustainability reporting, one can refer to the company's archive of annual sustainability reports.

Source:businesswire.com

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