Sonoco Products Company released its 2024 Sustainability Report, highlighting advancements in sustainable packaging and emissions reductions.
Quiver AI Summary
Sonoco Products Company announced the release of its 2024 Corporate Sustainability Report, highlighting its transformation into a more sustainable packaging leader following the acquisition of Eviosys, Europe's top metal packaging manufacturer. This acquisition adds 6,300 employees and 45 facilities, enhancing Sonoco's global reach and circular packaging capabilities. The company has made significant progress in reducing greenhouse gas emissions, achieving a 9.6% decrease in energy use and exceeding its 2030 targets. Notable initiatives include investments in renewable energy, energy-efficient technology, and a successful EcoVadis Platinum rating for Eviosys. Innovations like the Rigid Paper Container and Ecopeel™ can further advance sustainability efforts. Sonoco continues to prioritize environmentally friendly practices, underlining its commitment to the mission of Better Packaging. Better Life.®
Potential Positives
- Sonoco's acquisition of Eviosys significantly enhances its sustainability footprint and global reach, expanding its workforce by 6,300 employees and adding 45 facilities across Europe, the Middle East, and Africa.
- The company is on track to meet its greenhouse gas emissions reduction targets, having implemented 27 sustainability projects in 2024 that resulted in a 9.6% reduction in energy use, surpassing the original goal of 8%.
- Eviosys achieved a 26.3% reduction in Scope 1 and 2 emissions and earned an EcoVadis Platinum rating for the second consecutive year, demonstrating strong environmental performance and commitment to sustainability.
- Innovative sustainable packaging solutions developed by Sonoco, such as the award-winning Ecopeel™ and Horizon™, have been recognized for excellence, reinforcing the company's leadership in sustainable packaging.
Potential Negatives
- While the press release highlights advancements in sustainability, it may be perceived as an attempt to overshadow potential environmental criticisms that could arise from the growth in operations and emissions associated with the acquisition of Eviosys.
- The acquisition of Eviosys and subsequent expansion into new markets could increase operational complexities and risks, particularly in meeting sustainability targets in diverse regulatory environments.
- The reliance on future projects, such as the Virtual Power Purchase Agreement for wind energy scheduled for 2025, raises concerns about immediate impacts and the stability of existing sustainability measures.
FAQ
What is Sonoco's commitment to sustainability?
Sonoco is dedicated to sustainable packaging solutions, aiming for a 25% reduction in greenhouse gas emissions by 2030 and promoting circular innovation.
How has the acquisition of Eviosys impacted Sonoco?
The acquisition significantly enhances Sonoco's sustainability footprint and global reach, adding 6,300 employees and 45 facilities across Europe, the Middle East, and Africa.
What sustainability projects were launched in 2024?
In 2024, Sonoco initiated 27 sustainability projects, including solar installations and its first Virtual Purchase Power Agreement for wind energy capacity.
What recognition has Eviosys received for its sustainability efforts?
Eviosys earned an EcoVadis Platinum rating for the second consecutive year, achieving a 26.3% reduction in Scope 1 and 2 emissions from its 2020 baseline.
How does Sonoco’s packaging portfolio support environmental stewardship?
Sonoco's portfolio emphasizes recyclability and convenience, featuring innovations like Ecopeel™ and Horizon™, which enhance circularity and reduce carbon emissions.
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 10 times in the past 6 months. Of those trades, 7 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:
- R. HOWARD COKER (President & CEO) has made 3 purchases buying 60,000 shares for an estimated $2,674,972 and 0 sales.
- ROBERT R JR HILL has made 2 purchases buying 5,475 shares for an estimated $220,859 and 2 sales selling 4,000 shares for an estimated $191,819.
- JOHN R HALEY has made 2 purchases buying 5,246 shares for an estimated $240,369 and 0 sales.
- ERNEST D III HAYNES (Pres. Sonoco Metal Packaging) sold 2,453 shares for an estimated $115,513
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SON Hedge Fund Activity
We have seen 218 institutional investors add shares of $SON stock to their portfolio, and 235 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC removed 1,659,474 shares (-92.4%) from their portfolio in Q4 2024, for an estimated $81,065,304
- COOPER CREEK PARTNERS MANAGEMENT LLC added 1,600,888 shares (+inf%) to their portfolio in Q4 2024, for an estimated $78,203,378
- IMPAX ASSET MANAGEMENT GROUP PLC removed 553,559 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $27,041,357
- INVENOMIC CAPITAL MANAGEMENT LP added 524,198 shares (+368.6%) to their portfolio in Q4 2024, for an estimated $25,607,072
- DEPRINCE RACE & ZOLLO INC added 442,892 shares (+53.4%) to their portfolio in Q4 2024, for an estimated $21,635,274
- NORDEA INVESTMENT MANAGEMENT AB added 437,128 shares (+63.2%) to their portfolio in Q4 2024, for an estimated $21,353,702
- VALLEY WEALTH MANAGERS, INC. added 435,529 shares (+699.3%) to their portfolio in Q1 2025, for an estimated $20,574,389
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HARTSVILLE, S.C., May 08, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (NYSE: SON), a global leader in value-added sustainable packaging, today released its 2024 Corporate Sustainability Report, marking its transformation into a more sustainable packaging company following the acquisition of Eviosys, Europe’s leading metal packaging manufacturer.
The union significantly enhances Sonoco’s sustainability footprint, global reach and circular packaging portfolio with an additional 6,300 new employees and 45 facilities across Europe, the Middle East and Africa. The Company is now a global leader in metal and fiber packaging, serving some of the best-known consumer and industrial brands, yielding measurable results toward sustainable solutions that achieve our purpose of Better Packaging. Better Life. ®
Renewable energy and energy efficiency investments have helped Sonoco advance towards its Scope 1 and 2 greenhouse gas (GHG) emissions reduction targets of 25% by 2030 from the 2020 baseline. They include solar installations in Hartsville, S.C., Texas, and Italy; high-efficiency turbo blowers in Stainland, U.K. and Subang, Indonesia; and a new biogas boiler in Subang.
In total, 27 sustainability projects were put in place 2024, including the development of Sonoco's first-ever Virtual Purchase Power Agreement with ENGIE North America for 140 MW of wind energy capacity, scheduled to be operational by the end of 2025. These initiatives have helped reduce energy use by 9.6%, exceeding its original 8% goal for 2030. In addition, increased use of intermodal transport in North America reduced CO₂ emissions by approximately 2,400 metric tons annually .
The integration of Eviosys, now called Sonoco Metal Packaging EMEA, has further accelerated Sonoco’s sustainability goals. In 2024, Eviosys achieved a 26.3% reduction in Scope 1 and 2 emissions from its 2020 baseline and earned an EcoVadis Platinum rating for the second year in a row, receiving a perfect score for environmental performance . Eviosys also installed five energy-efficient oxidizers at key sites, expected to reduce natural gas usage by 60% while eliminating solvent emissions .
“We’re proud of the measurable progress made across the organization with the opportunity to expand impact with the addition of Eviosys,” said Scott Byrne, Sonoco Vice President of Global Sustainability. “Together, we’re building a truly global platform for circular innovation, climate action and sustainable growth.”
Sonoco’s packaging portfolio continues to reflect a commitment to recyclability, consumer convenience and environmental stewardship. Innovations include Sonoco’s Rigid Paper Container and lightweight, two-piece steel aerosols developed for compressed-air dusters — both advance circularity through smart, scalable solutions, alongside Eviosys’ award-winning Ecopeel ™ , an easy-open food can that uses less material and cuts carbon emissions by 20%, and Horizon ™ , a lightweight overcap that enhances recyclability. Both Ecopeel and Horizon have been honored at the 2024 Oscar de l’Emballage Awards for excellence in sustainable packaging.
“Our Better Packaging. Better Life. ® purpose continues to guide everything we do,” said Howard Coker, Sonoco President and CEO. “Our teams are innovating, investing and collaborating across the globe to build a more sustainable future for our customers, communities and our planet.”
For more on the frameworks and guidelines supporting Sonoco’s economic, environmental, social and governance standards, download the 2024 Corporate Sustainability Report: Reports | Sonoco Products Company .
About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global leader in value-added, sustainable metal and fiber consumer and industrial packaging. The Company is now a multi-billion-dollar enterprise with approximately 23,400 employees working in 285 operations in 40 countries, serving some of the world’s best-known brands. Guided by our purpose of Better Packaging. Better Life. , ® we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of America’s Most Trustworthy and Responsible Companies by Newsweek in 2025. For more information on the Company, visit our website at www.sonoco.com .
| Contact: |
Roger Schrum
843-339-6018 [email protected] |
