7.18.2024
We’re excited to announce the publication of the 2023 Novolex Sustainability Report!
This is our sixth report, and it continues our tradition of highlighting what we accomplished in the past year to fulfill the Novolex sustainability vision. The report explains how we view sustainability and manage our business to achieve our vision.
Our pillars of Products, Operations and People and Communities are how we approach sustainability across our businesses. The associated key performance indicators (KPIs) for each of them provide the framework for every annual report. The consistency of our reporting framework provides transparency and comparability of the progress we’ve made across each pillar year over year.
The progress made in 2023 would not have been possible without the hard work of all 10,000 members of the Novolex family. “There isn’t a role at Novolex that doesn’t have a significant impact on what sustainability means for us,” explained Novolex CEO Stan Bikulege in his opening letter of the report. “Maintaining safe workplaces, innovating new products, reducing energy use, supporting our communities, and many more initiatives all reflect sustainability at Novolex.”
Designing for Circularity
In 2023, applicable Novolex revenues from products that were recyclable,compostable, or reusable grew to an 84% share compared to 78% in 2022. The increase reflects ongoing efforts to develop products that can be diverted from landfills after they’re used. The trend also reflects growing interest among our customers and their consumers in reducing waste.
Reducing Greenhouse Gas (GHG) Emissions
In 2023,Novolex reduced GHG emissions by 23%, progressing towards our goal of a 30% reduction in emissions per ton of production by 2030. Novolex GHG data are assured by a third party in accordance with the terms of our sustainability-linked financing. To continue to reduce our carbon footprint in the years ahead, we will invest in energy-efficient technologies, including LED lighting, new heating and air-conditioning systems, chiller and boiler replacements, and more. At the same time, Novolex will continue to use energy that comes from renewable sources by purchasing Renewable Energy Credits (RECs) or Power Purchase Agreements.
Enhancing Safety Performance
Over 120 Novolex family members spearhead the company’s health and safety programs, encouraging all employees to approach each day with a “Safety Always” mindset. Employees are encouraged to share best practices to help Novolex establish defenses and evaluate any potential risks. Our open-door policy empowers employees to express concerns with supervisors and fosters a blame-free workplace to encourage everyone to contribute to making our workplaces safe.
Last year, we also introduced the “Good Catch” program to encourage employees to share areas for improvement across Novolex companies and nominate “Safety Heroes” to recognize those going above and beyond to foster safety in the workplace.
We invite you to read the full 2023 Novolex Sustainability Report here.