MWV named to CDP's Carbon Disclosure Leadership Index
Company increases transparency score with announcement of carbon reduction target
RICHMOND, Va.--(BUSINESS WIRE)-- MeadWestvaco Corporation (NYSE: MWV), a global leader in packaging and packaging solutions,has been featured in the Carbon Disclosure Project's (CDP), Carbon Disclosure Leadership Index for 2012. This index highlights companies scoring in the top ten percent of the S&P 500 based on commitment to climate change disclosures and understanding of the impact of climate change-related issues. MWV scored 93 out of 100, one of only 5 companies in the materials sector to score this high and the only company in the containers and packaging category to earn a place on the index. The average score for the S&P 500 was 70.
MWV is driven to find sustainable solutions for its business and has made a commitment to reduce CO2 emissions by 25 percent by 2015 (versus a 2010 baseline); currently, MWV is on target to achieve this goal. The company is installing a new, state-of-the-art biomass boiler that will burn renewable biomass, such as tree bark, wood residues and waste water residuals at its Covington paperboard facility. The new boiler will replace a coal-fired boiler and further reduce the company's carbon footprint, cutting plant emissions by ~30 percent.
"We are taking steps every day to make our operations more efficient and our business more sustainable," shared Dirk Krouskop, MWV's vice president for safety, health and environment. "And we're not only letting our customers, investors, suppliers and communities know what we're up to - we're working to achieve specific targets in partnership with all of these stakeholders. It's an honor to be named on the CDP Leadership Index; it recognizes the work we've done in so many areas to proactively reduce carbon emissions as cost effectively as possible."
Krouskop continued, "We are going to continue to work toward our long term improvement goals by doing things every day that make our business stronger, our customers more successful, and our environment more sustainable."
MeadWestvaco Corporation (NYS: MWV) is a global packaging company providing innovative solutions to the world's most admired brands in the healthcare, beauty and personal care, food , beverage, home and garden, tobacco, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its land holdings through forestry operations, property development and land sales. MWV's network of 125 facilities and 15,000 employees spans North America, South America, Europe and Asia. The company has been recognized for financial performance and environmental stewardship with a place on the Dow Jones Sustainability World Index every year since 2005. Learn more at www.mwv.com.
The Carbon Disclosure Project (CDP) is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP harnesses the power of market forces, including 655 institutional investors with assets of US$78 trillion, to collect information from companies on their greenhouse gas emissions and assessment of climate change and water risk and opportunity. CDP now holds the largest collection globally of primary climate change and water data and puts these insights at the heart of strategic business, investment and policy decisions. Please visit www.cdproject.net to find out more.
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