The Indian packaging sector has actively joined the effort to bring India Net Zero on carbon emissions by 2070, as promised by the Indian prime minister. According to a news release, CREDUCE and two of the largest companies in the nation in their respective fields of packaging and carbon credit consultancy have agreed a contract to support the company's efforts to achieve net zero emissions.
The MOU for collaborative effort includes an examination of carbon footprint and carbon neutrality as well as the formalisation of carbon and plastic credit balances on a globally recognised platform. Additionally, it sees establishing sustainability goals and creating a sustainable strategy.
With this focus, UFlex will take the lead as the largest company in the packaging industry and will be better able to achieve its Environment, Social, and Governance (ESG) objectives. These entail working together to develop a time-bound plan for becoming carbon neutral, starting with the group's flexible packaging division and moving on to the other divisions.
"We have always made it a priority to lead our team toward environmentally responsible behaviour, with a focus on achieving carbon neutrality for Scope 1 and Scope 2 emissions. By the course of the 2024 calendar year, we hope to have reduced the equivalent of around 175,000 tonnes of carbon emissions across the board. In order to meet the challenging ESG objectives we have set for ourselves, we also hope to execute numerous community development and outreach projects through our CSR initiatives," claims UFlex's joint president of the flexible packaging business, Jeevaraj Pillai.
Uflex plans to capitalise on its sustainability initiatives and gather carbon credits in conjunction with CREDUCE. With its global environmental programme, UFlex has been leading the endeavour "Project Plastic Fix," which uses techniques like MLP Recycling, production of PCR-grade films Asclepius and biodegradable laminates, which may be able to turn leftover packaging trash into fertiliser in a specific amount of time.
A variety of environmentally friendly goods are available from UFlex's various businesses, including inks, water-based adhesives, PCR films, MLP recycling equipment, gravure cylinders for water-based inks, and alu-alu blister packs.
Globally, businesses are making steady progress toward net zero carbon emissions and carbon neutrality. The most recent Memorandum of Understanding between the two groups emphasizes corporate India's commitment to supporting the nation in taking the lead on environmental issues.