Greif Announces Start of its First Virtual Power Purchase Agreement (VPPA) in Europe
Under the 12-year agreement, Greif will purchase approximately 100 GWh per year of clean, renewable energy, helping the company offset an estimated 65% of its Scope 2 emissions in Europe and 3% of its combined Scope 1 and 2 emissions globally.
'The activation of our VPPA with Enel Green Power España and through Enel X Global Retail, is a testament to our commitment to reducing our environmental footprint and investing in sustainable solutions,' said Ole Rosgaard, President and CEO of Greif. 'This partnership not only advances our own sustainability objectives, but by funding the development of solar energy infrastructure, we are helping accelerate the world's transition to clean, renewable energy.'
The solar VPPA is a core component of the company's broader sustainability strategy, which is centered on reducing greenhouse gas emissions and minimizing waste throughout its operations. For more information about Greif's sustainability initiatives and the VPPA, please visit www.greif.com/sustainability.
About Greif, Inc.
Greif is a global leader in industrial packaging products and services, pursuing its vision to be the best customer service company in the world. The company produces steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, jerrycans and other small plastics, containerboard, corrugated sheets and products, uncoated recycled paperboard, coated recycled paperboard, tubes and cores, and a diverse mix of specialty products. Greif also manufactures packaging accessories and provides other packaging services for a wide range of industries. In addition, the company manages timber properties in the southeastern United States. Greif has a workforce of over 14,000 colleagues spread across more than 250 facilities in 37 countries to serve global as well as regional customers.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Greif undertakes no obligation to update or revise any forward-looking statements.
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