UFlex partners with Creduce to achieve carbon neutrality
UFlex has signed an MOU and on-boarded Creduce – India’s carbon credits consultancy as its consulting partners to achieve end-to-end ‘carbon neutrality’. The scope would encompass an analysis on carbon footprint and neutrality, creating and formalizing carbon and plastic credit balances on an internationally accepted and recognized platform as a part of sustainable development goal and carving out sustainability roadmap.
With this commitment, UFlex stands to become the largest firm in this category, to take effective steps to meet its Environment, Social and Governance (ESG) goals. This would entail co-creating a time bound strategy towards carbon neutrality, beginning with its Flexible Packaging division followed by other divisions of the group.
Jeevaraj Pillai, Joint President – Flexible Packaging Business, UFlex, said: ‘We were always committed to steer our group towards sustainable environmental practices, especially to achieve carbon neutrality in Scope 1 and Scope 2 emissions. We aspire to cut about 175,000 tons of carbon emission equivalent by the end of year 2024, across the group. Through our CSR initiatives, we also aspire to implement various community development and outreach programs to achieve the stiff ESG goals that we have set for ourselves.’
Manas Kumar Sarkar, general manager– HR and Sustainability at Flexible Packaging Business of UFlex, stated: ‘Socio-Environmental Sustainability has always been one of our core organizational values for quite some time now and we have articulated & imbibed the same in all walks of our functioning.’
Besides this, UFlex in consultation with Creduce, intends to leverage its sustainability initiatives and accrue carbon credits. UFlex has been championing this effort with its global sustainability initiative ‘Project Plastic Fix’ which includes methodologies such as - MLP recycling (converting industrial and post-consumer plastic waste to granules), manufacturing of PCR grade films Asclepius (by upcycling discarded PET bottles) and biodegradable laminates (that will convert uncollected packaging waste into fertilizer within a fixed period of time) to reinstate the benefits of plastics and create a circular economy. UFlex offers a host of green products across its businesses namely green Inks, water-based adhesives, PCR films, MLP recycling machines, water-based cylinders and Alu-Alu Blister packs.
Shailendra Singh Rao, director Creduce, said: ‘It is a huge honor and excitement to see such Industry giants taking big leaps towards sustainability and Carbon neutrality. At Creduce, we see huge potential among organizations like UFlex to accrue carbon credits. We would be able to strategize a path towards complete zero carbon footprint. These accruals of carbon credits would be clubbed with community development initiatives like smokeless cook-stoves & clean drinking potable water. Firms like UFlex can lead the way for other players to follow.’