A Strong Growth in Sales of Sustainable Products, Local Suppliers, and Significant Reduction in Landfill Waste
Beontag has posted strong results and progressed against all of the company’s 2030 ESG targets, as well as serving as an ESG enabler for its clients around the world. Efforts have been made to include an expanded GHG inventory to capture recent acquisitions, further strengthening the credibility of the Company’s global ESG efforts.
Beontag – one of the world’s largest manufacturers of self-adhesives and smart tags such as RFID and NFC – today published its 2022 ESG Report, showing significant progress compared to 2021, despite the rapid expansion of the company’s footprint following a series of successful global acquisitions.
The report shows strong financial result and company performance – including 22% of organic and 180% of total growth, reaching USD $551 million net revenue – alongside advances in sustainability, such as the sale of sustainable products, landfill waste reduction, local sourcing of suppliers, increase of women in the workforce and leadership positions, and delivering company ESG strategy integration, all while addressing the challenges of increased energy consumption and Scope 3 emissions as a result of the expansion of business operations in 2022.
Progress Tracking Across All ESG Pillars
In 2022, Beontag developed their second Greenhouse Gas (GHG) emissions inventory. This GHG inventory provides an even better understanding of the carbon emissions and impacts associated with Beontag’s global operations. Monitoring of ESG KPIs expanded to encompass newly acquired operations, and product Life Cycle Assessment (LCA) were introduced to provide credible information about Beontag products' environmental impacts and showcase how they contribute to clients’ sustainability strategies.
With regards to benefits to clients, the global business enabler has further enhanced the sustainability efforts and inventory management of its customers across the globe, through the expanded investment, development and production of sustainable solutions, such as the patented ECO RFID tag solution, which reduces the indirect emissions (Scope 3) of its consumers by more than half the gCO2e per unit compared to a PET/Alu tag.
During this reporting period, Inclusion, Diversity & Equity initiatives were also implemented at corporate and operational levels, mainly focused on gender equality. The total number of women in the company and in leadership positions are the two gender diversity indicators tracked and monitored on a monthly basis.
Key Findings of the Beontag 2022 ESG Report Include:
- 71% of Graphics and Labels Materials (GLM) sales from sustainable products in 2022, up from 67% in 2021
- A 5x increase in Digital Transformation Enabler (DTE) sales from sustainable products, from 3.5% in 2021 to 18% in 2022
- In both GLM and DTE, the percentage of waste diverted from landfill almost doubled - from 26% to 50% in the GLM division, and from 35.2% to 56% in DTE, in 2021 and 2022 respectively
- More than 90% of products sourced from short distance local suppliers in the GLM division.
- Women in the workforce in 2022 increased by 2% versus 2021, from 28% to 30%, and a corresponding 3% increase in women in leadership positions, from 21% to 24% in 2022.
- 33 nationalities working across our global operations.
In 2022, Beontag has acquired five companies and is working to integrate them as a group. With commercial operations in over 40 countries, the company has become a truly borderless, end-to-end provider of graphic and label materials and (Internet of Things) IoT solutions rooted in sustainable technologies.
Barbara Dunin, Director of ESG, Marketing and Communications at Beontag, commented:
“During a year of significant growth, expansion and global acquisitions, our ESG team grew to match this new expectation, demonstrating our unwavering commitment to this shared mission to operate with a more sustainable lens. While we continue to work to fully integrate our expanded operations into our ESG strategy, we are making strong progress and are currently on track to meet all of our 2030 ESG goals”.
Speaking following the publication of the report, Ricardo Lobo, CEO of Beontag, said:
“2022 was an important year for Beontag. We made strategic acquisitions,, diversified our portfolio and provided more sustainable products across all our business lines. In 2023 and beyond, we are excited to continue innovating and expanding our solutions to meet our clients’ needs - all while improving our ESG credentials and reducing the impact of our sector on the planet.”
The publication of the 2022 Sustainability Report follows the negotiation of a Sustainability-Linked Loan (SLL) of €120 million with global banks. The facility contains incentivized terms that are linked to the Company’s 2030 ESG Strategy, which was rolled out in 2022 and is aligned to the United Nations Sustainable Development Goals (SDGs). During the development of the SLL agreement, Beontag’s 2030 ESG strategy was scrutinized by financial institutions and proved to be robust and reliable for driving progress in the years to come.