Combined Report outlines Ball's commitment
to being the aluminum packaging provider of choice to advance
customer sustainability goals
WESTMINSTER, Colo., March 21,
2024 /PRNewswire/ -- Ball
Corporation (NYSE: BALL) today released its 2023 Combined
Report, which provides stakeholders with a comprehensive
overview of how environmental, social and economic performance are
driving value across the business.
"Following the divestment of our aerospace business, this past
year presented an opportunity for us to clearly declare who we are
as a focused aluminum packaging sustainability leader with an
expansive product portfolio," said Dan
Fisher, chairman and CEO of Ball Corporation. "We embark on
our next chapter with vigor and a relentless focus on delivering
value by leveraging the full extent of our manufacturing expertise,
winning operationally by prioritizing efficiency, and forging
lasting customer relationships by actively listening to our
customers' needs and partnering with them to make a
difference."
The Combined Report details Ball's global portfolio of aluminum
cans and bottles that serve the needs of its beverage, personal
care and household products customers as they seek innovative and
sustainable packaging solutions. By focusing on leveraging
aluminum's inherent properties of recyclability, circularity and
unmatched durability, Ball delivers packaging solutions that meet
customer needs and advance their sustainability and climate goals,
as well as Ball's own.
In anticipation of greater demand for sustainable aluminum
packaging, Ball has also taken actions to fully leverage the
benefits of its scale, agility and efficiency to ensure a robust
and sustainable product supply for customers over the near- and
long-term. While contributing trends will vary each year, we are
encouraged by the actions taken by our value chain partners to
implement measures that continue making progress towards Ball's
Climate Transition Plan, our comprehensive science-based
decarbonization plan focusing on achieving critical emissions
reductions by 2030.
"The Climate Transition Plan is our pathway for transforming our
organization into a fully circular and decarbonized business that
delivers sustainability at scale for our customers, shareholders,
and all other stakeholders," said Ramon
Arratia, chief sustainability officer of Ball Corporation.
"We are making measurable progress toward achieving our 2030 goals
while also building a strong network of diverse partners to advance
circularity within the industry."
The 2023 Combined Report demonstrates Ball's long-term
commitment to driving innovation, increasing operational efficiency
and prioritizing its people and culture as foundational components
to its success.
Report Highlights include:
- Strong 2023 financial performance, plans to use aerospace sale
net proceeds of approximately $4.5
billion and free cash flow to significantly deleverage and
accelerate return of value to shareholders in 2024 and beyond.
- Ball investments which strategically position the company to
deliver ongoing value to stakeholders and provide customers with
the sustainable solutions they need.
- For the first time, more than half (58%) of Ball's global
electricity usage came from renewable sources, with 100% for its
beverage packaging plants in the U.S.; cutting Ball's global Scope
2 greenhouse gas emissions in half compared to the previous
year.
- Ball continues to work with suppliers to increase the recycled
content of its products and achieved a global beverage packaging
average of 70% recycled content, up 4% from the prior year.
- Driven by increased renewable electricity coverage, higher
recycled content and various other dynamics, Ball achieved
significant year-over-year reductions (-29%) in Ball's absolute
greenhouse gas emissions (Scopes 1-3).
- By the end of 2023, 100% of Ball's rolling mill suppliers were
members of the Aluminum Stewardship Initiative (ASI), and 21% of
metal procured in 2023 was ASI-certified metal.
- In 2023, Ball published the second edition of its 50 States of
Recycling Report which reaffirms the critical role policy plays in
ensuring high recycling rates.
- After implementing a new global program, policies and training,
Total Recordable Incident Rates reduced by 12% since 2022.
- Ball invested over $5.2 million
USD in supporting its global communities, employees spent
over 38,000 hours volunteering, and Ball responded to 20 natural
disasters across 10 countries.
- In 2023, Ball introduced its expanded global diversity and
inclusion goals and continued to advance diverse representation on
its executive leadership team and board of directors.
To download the full 2023 Combined Report, visit here. For
more information on Ball's sustainability efforts, please visit
https://www.ball.com/sustainability.
About Ball Corporation
Ball Corporation supplies
innovative, sustainable aluminum packaging solutions for beverage,
personal care and household products customers. Ball Corporation
employs 16,000 people worldwide (excluding divested aerospace
staff) and reported 2023 net sales of $14.03
billion. For more information, visit www.ball.com, or
connect with us on Facebook or Twitter.
Forward-Looking Statements
This release contains "forward-looking" statements concerning
future events and financial performance. Words such as "expects,"
"anticipates," "estimates," "believes," and similar expressions
typically identify forward looking statements, which are generally
any statements other than statements of historical fact. Such
statements are based on current expectations or views of the future
and are subject to risks and uncertainties, which could cause
actual results or events to differ materially from those expressed
or implied. You should therefore not place undue reliance upon any
forward-looking statements, and they should be read in conjunction
with, and qualified in their entirety by, the cautionary statements
referenced below. Ball undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. Key factors, risks and
uncertainties that could cause actual outcomes and results to be
different are summarized in filings with the Securities and
Exchange Commission, including Exhibit 99 in Ball's Form 10-K,
which are available on Ball's website and at www.sec.gov.
Additional factors that might affect: a) Ball's packaging segments
include product capacity, supply, and demand constraints and
fluctuations and changes in consumption patterns; availability/cost
of raw materials, equipment, and logistics; competitive packaging,
pricing and substitution; changes in climate and weather and
related events such as drought, wildfires, storms, hurricanes,
tornadoes and floods; footprint adjustments and other manufacturing
changes, including the startup of new facilities and lines; failure
to achieve synergies, productivity improvements or cost reductions;
unfavorable mandatory deposit or packaging laws; customer and
supplier consolidation; power and supply chain interruptions;
changes in major customer or supplier contracts or loss of a major
customer or supplier; inability to pass through increased costs;
war, political instability and sanctions, including relating to the
situation in Russia and
Ukraine and its impact on Ball's
supply chain and its ability to operate in Europe, the Middle
East and Africa regions
generally; changes in foreign exchange or tax rates; and tariffs,
trade actions, or other governmental actions, including business
restrictions and orders affecting goods produced by Ball or in its
supply chain, including imported raw materials; and b) Ball as a
whole include those listed above plus: the extent to which
sustainability-related opportunities arise and can be capitalized
upon; changes in senior management, succession, and the ability to
attract and retain skilled labor; regulatory actions or issues
including those related to tax, environmental, social and
governance reporting, competition, environmental, health and
workplace safety, including U.S. Federal Drug Administration and
other actions or public concerns affecting products filled in
Ball's containers, or chemicals or substances used in raw materials
or in the manufacturing process; technological developments and
innovations; the ability to manage cyber threats; litigation;
strikes; disease; pandemic; labor cost changes; inflation; rates of
return on assets of Ball's defined benefit retirement plans;
pension changes; uncertainties surrounding geopolitical events and
governmental policies, including policies, orders, and actions
related to COVID-19; reduced cash flow; interest rates affecting
Ball's debt; successful or unsuccessful joint ventures,
acquisitions and divestitures, and their effects on Ball's
operating results and business generally.
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SOURCE Ball Corporation