Sonoco announced that it has been named SAM Gold Class for a second consecutive year by SAM (Sustainable Asset Management) in its Sustainability Yearbook 2012. The Company was also named SAM 2012 Sector Leader and SAM 2012 Sector Mover in the Containers and Packaging sector. This is the first time Sonoco has been named a Sector Leader, a distinction awarded to the company with its sector's highest sustainability score. SAM is an investment boutique focused exclusively on sustainability investing that annually invites the world's largest 2,500 companies, as reflected in the Dow Jones Global Total Stock Market Index, to participate in its Corporate Sustainability Assessment.
"We are extremely pleased to be named the packaging industry's sustainability leader because it recognizes our commitment to setting the standard for sustainability in our industry and to providing recycling services and innovative waste reduction programs to many of the largest consumer brands in the world," said Harris E. DeLoach, Jr., Sonoco's chairman and chief executive officer.
SAM assessed 10 packaging and container companies using economic, environmental and social criteria. The economic criteria included corporate governance; customer relationship management; risk and crisis management; and codes of conduct. SAM's environmental assessment examined the companies' product stewardship; environmental reporting; environment policy/management system; and climate strategy. Social dimension criteria focused on talent attraction and retention; human capital development; stakeholder engagement; and standards for suppliers.
The company with the highest score in each sector is named the SAM Sector Leader. SAM considers a Sector Leader the company in its industry that is best prepared to seize the opportunities and effectively manage the risks associated with economic, environmental and social developments. SAM Sector Leaders also receive SAM Gold Class status for that year.
The SAM Sector Mover award is given to the company in a sector that has achieved the largest proportional improvement in its sustainability performance compared to the previous year. Sonoco was named a SAM Sector Mover in 2010 and again in 2012.
"It is also especially gratifying to all of our stakeholders to be named a SAM Sector Mover for a second time because it acknowledges Sonoco's real, ongoing commitment to improving its sustainability performance worldwide and the progress we are making in achieving that," added DeLoach.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately $5 billion, the Company has more than 19,000 employees working in 340 operations in 34 countries, serving some of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2011/2012 Dow Jones Sustainability World Index.