Diamond Packaging has been awarded with a position on the CDP Supplier Climate Performance Leadership Index 2014 for its actions to reduce carbon emissions and mitigate the business risks of climate change.
The index, which is included within a new report reviewing the environmental sustainability of global supply chains, presents 121 suppliers identified as demonstrating a superior approach to climate change mitigation. It has been produced by CDP, the international NGO that drives sustainable economies, at the request of 66 multinational purchasers who work with CDP to better understand and manage the environmental impacts of their supply chains and have a procurement spend of US$1.3 trillion.
Information provided by 3,396 companies has been independently assessed against CDP's respected scoring methodology and ranked accordingly. Diamond Packaging is one of the 121 that has been awarded an A grade for its climate performance, earning a position on this global ranking of suppliers' efforts to mitigate climate change.
Climate performance leaders recognize the risks and opportunities of climate mitigation strategies. Accordingly, they have implemented cost-effective initiatives to lower their greenhouse gas emissions, collectively reducing their total (absolute) emissions by over 20 million metric tons in the past reporting year; this is equivalent to planting 16 million acres of forest.
CDP performance scores provide a tool for corporate buyers to evaluate and track supplier efforts to mitigate climate change risks such as rising costs associated with regulation and fluctuating energy prices, or business interruption due to extreme weather events. When climate change risks become a reality, profitability and brand reputation up and down the value chain can be impacted. CDP scores enable benchmarking and easy identification of where purchasers and their suppliers can collaborate to drive improvements to future-proof their supply chains against climate risk.
Paul Simpson, chief executive officer of CDP, comments: "Greenhouse gas emissions continue to rise globally and we face steep economic risk if we do not mitigate them. The business case for action to mitigate climate change impacts in the supply chain has never been stronger or more urgent. For this reason we congratulate those suppliers who have achieved a position on CDP's Supplier Climate Performance Leadership Index. These companies are responding to the growing demand for environmental accountability while at the same time making progress towards the realization of sustainable economies."
Robert Francisco, president of FirstCarbon Solutions, adds: "For many companies, the majority of greenhouse gas emissions are found within the supply chain. This achievement is testament to Diamond Packaging's partnership with its customers to make the commitment to environmental stewardship and demonstrate a superior approach to climate change mitigation. As CDP's sustainability business process outsourcing partner and supply chain scorer, FirstCarbon Solutions congratulates Diamond Packaging for being recognized in the top 4% of suppliers as part of CDP's 2014 Supplier Climate Performance Leadership Index."
About Diamond Packaging
Founded in 1911, Diamond Packaging is a WBENC-certified woman-owned business specializing in developing innovative and sustainable packaging solutions. Utilizing state of-the-art technologies, Diamond designs and manufactures paperboard and plastic folding cartons, and provides comprehensive contract packaging services for the personal care (cosmetics, hair care, skin care, fragrance, oral care, and shaving), health care, pharmaceutical, nutraceutical, and food and confectionery industries. Its client portfolio includes Bausch & Lomb, Beiersdorf, Coty, Elizabeth Arden, Estée Lauder, Godiva Chocolatier, Johnson & Johnson, L'Oreal, and Procter & Gamble. As part of the Global Packaging Alliance® (GPA), Diamond and its alliance members offer packaging solutions to companies operating on an international scale. Customers receive responsive, localized service, award-winning creative designs, identical product specifications and consistent brand recognition, resulting in unparalleled worldwide packaging support.
CDP, formerly Carbon Disclosure Project, is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP works with market forces, including 767 institutional investors with assets of US$92 trillion, to motivate companies to disclose their impacts on the environment and natural resources and take action to reduce them. CDP now holds the largest collection globally of primary climate-change, water and forest risk commodities information and puts these insights at the heart of strategic business, investment and policy decisions.