Novolex releases sixth annual sustainability report

Novolex, based in Charlotte, North Carolina, has released its sixth annual sustainability report, demonstrating its commitment to environmental, social and governance (ESG) goals. 

The report, published in accordance with the Global Reporting Initiative, details several company advancements: 

1. The company expanded the circularity of products. In 2023, Novolex revenues from products that were recyclable, compostable or reusable grew to an 84 percent share compared with 78 percent in 2022. According to the company, the increase reflects ongoing efforts across the Novolex portfolio to develop products that can be diverted from landfill after use.  
2. It made progress toward its 2030 goal to reduce greenhouse gas emissions by 30 percent, reducing GHG emissions by 23 percent in 2023. Novolex GHG data are assured by a third party in accordance with the terms of the company’s sustainability-linked financing.
3. Novolex increased its use of postconsumer recycled paper within businesses and products to 52 percent in 2023 compared with 49 percent in 2022.
4. Novolex provides an outline of the company’s Scope 3 footprint. The data support wider efforts to address GHG emissions in the supply chain, which also facilitates the ability to provide customers with product-level carbon data to inform their decisions about material use and product design, the company says.
5. Novolex businesses Vegware and Eco-Products have received B Corp certifications, in part for their contributions toward reducing methane emissions and food waste. B Corp certification recognizes organizations that are driven by mission and profit. In addition, Novolex has achieved Bronze Medal status by EcoVadis, a platform used by customers to rank supplier ESG practices.