Sonoco receives How2Recycle pre-qualification for its EnviroCan® Metal Bottom container, enhancing sustainable packaging and recycling clarity.
Quiver AI Summary
Sonoco Products Company has announced that its EnviroCan® Metal Bottom rigid paper container has received pre-qualification to carry the How2Recycle® ‘Check Locally’ label, indicating its recyclability. The container is made from 100% recycled fiber, with 90% sourced from post-consumer materials, while its steel bottom is made from one of the most recycled materials globally. The How2Recycle label provides consumers with clear recycling instructions, highlighting Sonoco's commitment to sustainable packaging solutions. According to a Life Cycle Assessment, recycling this container significantly reduces global warming potential compared to landfilling steel. This recognition reflects Sonoco's efforts to advance sustainable packaging and aid consumers in responsible disposal methods.
Potential Positives
- Sonoco received pre-qualification for the How2Recycle® ‘Check Locally’ label, enhancing its commitment to sustainability and responsible materials sourcing.
- The EnviroCan® Metal Bottom container is made from 100% recycled fiber, with 90% from post-consumer resources, aligning with consumer preferences for sustainable products.
- By providing clear recycling information, the How2Recycle label aids consumers in proper disposal, potentially increasing recycling rates for the EnviroCan® product.
- Sonoco's Life Cycle Assessment indicates that recycling the EnviroCan container has significantly lower global warming potential compared to landfilling, showcasing its environmental benefits.
Potential Negatives
- The press release emphasizes the pre-qualification of a single product, which may indicate a lack of broader sustainable packaging initiatives underway at the company.
- The focus on the How2Recycle label could suggest that other products may not have met the same sustainability standards, potentially reflecting gaps in the company's overall packaging strategy.
- Despite the positive messaging, reliance on recycled materials, while commendable, could expose the company to supply chain vulnerabilities or fluctuating market conditions for recycled fibers and metals.
FAQ
What is the EnviroCan Metal Bottom container made of?
The EnviroCan Metal Bottom container is made of 100% recycled fiber, primarily sourced from post-consumer materials, with a steel bottom end.
What is the significance of the How2Recycle label?
The How2Recycle label provides clear recycling instructions, helping consumers understand how to properly recycle the product at their location.
How does the EnviroCan impact global warming potential?
Using the EnviroCan results in 23.5% lower global warming potential compared to landfilling steel due to reduced mining for new iron ore.
Why is collaboration with recyclers important for Sonoco?
Collaboration with recyclers has enabled Sonoco to gather data and evidence necessary for improving the recyclability of its packaging solutions.
What makes Sonoco a leader in sustainable packaging?
Sonoco is recognized for its innovations in sustainable packaging and was named one of America's Most Responsible Companies by Newsweek.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SON Insider Trading Activity
$SON insiders have traded $SON stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $SON stock by insiders over the last 6 months:
- JOHN M FLORENCE (VP, Gnl Council, Secy, CHRO) sold 13,660 shares for an estimated $699,398
- ROBERT R JR HILL has made 0 purchases and 2 sales selling 4,000 shares for an estimated $191,819.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SON Hedge Fund Activity
We have seen 208 institutional investors add shares of $SON stock to their portfolio, and 253 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AMERICAN CENTURY COMPANIES INC removed 2,673,270 shares (-91.5%) from their portfolio in Q3 2024, for an estimated $146,040,740
- MILLENNIUM MANAGEMENT LLC added 1,663,890 shares (+1252.6%) to their portfolio in Q3 2024, for an estimated $90,898,310
- VICTORY CAPITAL MANAGEMENT INC removed 850,624 shares (-38.8%) from their portfolio in Q3 2024, for an estimated $46,469,589
- SILVERCREST ASSET MANAGEMENT GROUP LLC removed 489,461 shares (-52.4%) from their portfolio in Q3 2024, for an estimated $26,739,254
- NORDEA INVESTMENT MANAGEMENT AB added 437,128 shares (+63.2%) to their portfolio in Q4 2024, for an estimated $21,353,702
- DIMENSIONAL FUND ADVISORS LP added 372,247 shares (+14.1%) to their portfolio in Q3 2024, for an estimated $20,335,853
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 344,658 shares (+50.4%) to their portfolio in Q3 2024, for an estimated $18,828,666
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HARTSVILLE, S.C., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco”) (NYSE: SON), a global leader in high-value sustainable packaging, has received pre-qualification to carry the How2Recycle® ‘Check Locally’ label for its EnviroCan® Metal Bottom rigid paper container. The EnviroCan paper container body is made of 100% recycled fiber, 90% of which comes from post-consumer resources, a design that balances responsible materials sourcing with product and food safety. The metal bottom end is made of steel, one of the world’s most recycled materials.
The widely recognized How2Recycle on-pack label guides consumers with clear instructions for recycling at their location and demonstrates Sonoco’s ongoing efforts to develop innovative, sustainable packaging solutions for customers and consumers worldwide.
“Securing the pre-qualification for the EnviroCan Metal Bottom is the result of years of data and evidence collection as well as collaboration with recyclers,” said Sabrina Dixon-Ridges, Director of Global Operational Sustainability at Sonoco.
“With the How2Recycle pre-qualification, the EnviroCan solution meets customers’ performance expectations while providing quantifiable sustainable improvements,” said Scott Byrne, Vice President of Global Sustainability at Sonoco. “It’s a smart, reliable choice for brand owners to meet their sustainability goals and help drive the circular economy forward.”
According to a Life Cycle Assessment (LCA) commissioned by Sonoco, recycling a paper container with a steel bottom end has 23.5% lower global warming potential when compared to landfilling steel, primarily because it decreases the need to mine for new iron ore, a key, raw material in steel production. It's also the world's most recycled material. The American Institute of Steel Construction estimates more than 70 million tons of scrap wind up at domestic mills each year, and more than 80% of steel products are produced from these recycled materials.
How2Recycle is North America’s most prominent standardized label system that allows companies to accurately communicate the recyclability of packaging. The on-pack labeling was created to provide consistent and transparent recycling information for US and Canada consumers.
"We're always proud to see that the collaboration and hard work of How2Recycle member companies can result in upgrades to a packaging format and a material's recyclability," said Paul Nowak, Executive Director of GreenBlue, parent nonprofit of How2Recycle. "With this effort, Sonoco is advancing sustainable packaging by not only improving the recyclability of their packaging but also ensuring that its product’s disposal instructions are easily understood by consumers.”
From convenient, on-the-go snack containers to bulk industrial packages, the EnviroCan Metal Bottom is available in a variety of sizes to showcase and carry products. To learn more about the EnviroCan® Metal Bottom or any of Sonoco’s sustainable rigid paper packaging solutions, visit sonoco.com/rigidpapercontainers .
About Sonoco
With net sales of approximately $6.8 billion in 2023, the Company has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees, and communities. Sonoco was named one of America's Most Responsible Companies by Newsweek. For more information on the Company, visit our website at sonoco.com.
About How2Recycle
Launched in 2012, How2Recycle is the leading on-pack disposal label program in the United States and Canada, comprising over 800 members and issuing labels for hundreds of thousands of packaging products. A project of the environmental nonprofit GreenBlue, How2Recycle simplifies the recycling process by providing clear, standardized instructions that help consumers get more materials into the recycling bin.
How2Recycle was developed by a Sustainable Packaging Coalition working group to offer consumers accessible and consistent on-pack disposal instructions. It has since become the most recognizable recycling label in North America. To determine a material’s recyclability, How2Recycle uses national data, evaluating factors such as applicable law, access to collection, sortation, technical reprocessability, and end markets. The program has set a new standard for on-pack disposal instructions and is driving industry leadership in sustainable packaging and consumer education across the supply chain.
Contact: Roger Schrum
843-339-6018
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