LONDON, Oct. 15, 2020 (Press Release) -DS Smith, the FTSE 100 leading provider of sustainable packaging, has today announced a new partnership with World Kinect Energy Services to manage energy consumption for its Recycling, Paper and Packaging sites across 26 European countries.
World Kinect Energy Services will support the DS Smith’s long-term goal to reduce carbon emissions by 30% by 2030, in line with the reaffirmation of that target in the company’s newly launched Now and Next Sustainability Strategy. With a large focus on the company’s 14 European paper mills, the partnership will provide DS Smith with tactical solutions to energy purchasing and usage, increasing efficiencies and reducing waste in production.
Adding value to DS Smith’s existing energy portfolio, World Kinect Energy Services will support the company to mitigate risks and maximise its energy data through price risk management services including market intelligence, regulatory reporting, and cost and consumption reporting. The partnership will continue to ensure a competitive strategy for total energy costs across all its European markets.
Gerald Maunz, Procurement Director for Energy at DS Smith commented: “
“As a global business with sustainability as the foundation of our overall business strategy, being able to manage energy consumption efficiently across all our sites is fundamental. We were impressed with the professionalism, price risk management skills and reporting capabilities that the energy experts and portfolio management team at World Kinect Energy Services demonstrated.”
Terry Cogan, Vice President at World Kinect Energy Services added: “All our customers have differing requirements, whether it’s specific financial or reporting processes, or sustainability and carbon reduction targets and it is our priority to ensure those needs are met. We are looking forward to working with the team at DS Smith over the next three years to help them maximise their energy data and exploit it to manage and minimize risks in what is a complex and volatile market.”
In the past year, DS Smith has hit a number of sustainability milestones including an 11% reduction in emissions in 2019 compared to 2015 on a like-for-like basis. The partnership with World Kinect Energy Services will drive this momentum, ensuring significant progress is made against key sustainability targets.
About DS Smith:
DS Smith is a leading provider of corrugated packaging, supported by recycling and papermaking operations. Headquartered in London and a member of the FTSE 100, DS Smith focuses on creating innovative sustainable packaging solutions in 34 countries employing around 30,000 people. Using the combined expertise of its divisions – Packaging, Recycling and Paper – DS Smith works with customers to deliver solutions that reduce complexity and deliver results throughout the supply chain. Its history can be traced back to the box-making businesses started in the 1940s by the Smith family.
About World Kinect Energy Services
World Kinect Energy Services is a trusted global leader in energy management, fuel supply, and sustainability. It helps clients buy better and buy smarter energy through the delivery of trusted energy advice and solutions, sustainability services and data management.
Its four core solutions include:
- Energy Management
- Supply & Trade