Onex is pleased that many of the operating companies in its private equity funds have taken the initiative to design and implement ESG programs that demonstrate leadership in their respective industries and sectors. There are various examples of ESG successes across the Onex private equity portfolio. Below are a few examples that aim to highlight recent achievements and developments.
SIG Combibloc Group (“SIG”) is a progressive leader in integrating ESG policies and practices into its worldwide operations. Acquired by Onex in March 2015, SIG is the second-largest provider of aseptic carton packaging globally, providing beverage and food producers with comprehensive aseptic packaging systems, including proprietary filing machines and a corresponding portfolio of carton sleeves and closures. As an operator of 11 production facilities worldwide, SIG’s 5,000 employees serve a mix of leading multinational and regional customers in over 40 nations.
SIG strives to be Way Beyond Good. As part of its ESG commitment, SIG has set an objective to be a net positive company by contributing more to society and the environment than it takes out across its entire value chain. By 2030, SIG aims to halve its environmental impact and double its benefit to society by procuring all raw materials from certified responsible sources and offering the most sustainable packaging solutions available in the market.
To go Way Beyond Good, SIG:
- Uses only responsibly sourced paperboard from suppliers that are certified by the Forestry Stewardship Council (FSC) and is creating packaging made from 100% renewable materials;
- Is reducing greenhouse gas emissions and is developing cartons with the lowest environmental footprint;
- Is creating a workplace that supports its people’s growth and promotes sustainable lifestyles through good working conditions and fair treatment of communities; and
- Launched the Cartons for Good project, which aims to support farmers’ livelihoods, promote children’s nutrition and education and cut food waste around the world.
SIG’s mission to go Way Beyond Good on climate change includes meaningful targets to reduce greenhouse gas emissions:
- SIG has committed to reduce its scope 1 and 2 greenhouse gas emissions by 50% by 2030 and 60% by 2040 – from a 2016 base year. This includes direct emissions from operations (scope 1) as well as indirect emissions from the generation of purchased energy (scope 2). SIG has further committed to reduce emissions per litre packed 25% by 2030;
- Most recently, SIG was one of an elite group – currently around 100 companies worldwide – to have its emission targets approved by the Science Based Targets initiative, a collaboration between Carbon Disclosure Project, the United National Global Compact, World Resources Institute and the World Wide Fund for Nature; and
- SIG purchases energy in Thailand and China that is certified by the GoldPower Global Renewable Energy Standard and actively seeks out procurement of green energy in other jurisdictions.
SIG published its first Corporate Responsibility Report in 2016.
Acquired by Onex in October 2011, JELD-WEN Holding (“JELD-WEN”) is one of the world’s largest door and window manufacturers. It has widespread operations in North America, Europe, Australia and Asia. JELD-WEN’s products are sold in approximately 75 countries through multiple distribution channels, including retail home centers, wholesale distributors and building product dealers that supply homebuilders, contractors and consumers. JELD-WEN employs approximately 21,000 people in 115 manufacturing facilities located in 19 countries.
As part of a commitment to become an industry leader in socially responsible practices and environmental stewardship, JELD-WEN:
- Only uses responsibly sourced raw wood materials from suppliers that are FSC-certified for all wood windows and select door products;
- Developed a proprietary process to use wood waste to make moulded wood fibre door facings and use the Scientific Certification System to certify door facings contain at least 51% recycled materials;
- Developed a proprietary process to reduce Volatile Organic Compound emissions by 96 per cent during production (compared to conventional production processes);
- Streamlined distribution and manufacturing operations to reduce greenhouse gas emissions and energy consumed to reduce its world-wide carbon footprint;
- Planted over three million trees in the past two decades with a further pledge to limit timber harvest yields below new timber growth and planting activities; and
- Became a member of the Green Building Initiative (GBI), a non-profit organization that accelerates green building practices by promoting environmentally progressive approaches that are practical, affordable and accessible to mainstream builders, architects and developers.
JELD-WEN has been the recipient of two Partner of the Year Awards from Energy Star and has participated in the EPA SmartWay Transport Partner program since 2004, which has saved 121 million barrels of fuel, eliminated 51.6 million metric tons of CO2, 738,000 tons of NOx and 37,000 tons of particulate matter.