TC Transcontinental releases Acting Together, its latest Corporate Social Responsibility Plan, as it tackles the creation of a circular economy for plastic
Montréal, July 16, 2019 – Today, TC Transcontinental (TSX: TCL.A TCL.B) is proud to release its 2019-2021 Corporate Social Responsibility (CSR) Plan titled Acting Together, along with its 2016-2018 CSR Report, which presents the results achieved in the course of the previous three-year CSR Plan, Driving Sustainable Results. On the heels of having been recognized as the 8th best corporate citizen in Canada in 2019 by the renowned Corporate Knights ranking, TC Transcontinental now puts down yet another marker in its sustainability journey by committing to a new set of specific and quantifiable targets.
“With Acting Together being released, we are now one step closer to reaching our CSR goals as a corporation,” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “We seek to have a meaningful impact on the development and wellness of our employees, limit the environmental effect of our operations, develop sustainable products from sourcing to end-of-life, and contribute to the communities in which we operate. We are proudly working hand in hand with our customers, our suppliers and all of our stakeholders to find solutions to the sustainability challenges faced today on a global level. This 2019-2021 CSR plan, coupled with our recent announcement in becoming the first Canadian-based manufacturer to join the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment, becomes our roadmap to further our commitment towards sustainability throughout our transformation and steadfast growth in packaging.”
Some of the successes and highlights of the Corporation’s 2016-2018 CSR Report include reducing its environmental impact through achieving its greenhouse gas emissions reduction target, accelerating its growth in flexible packaging, with the Packaging Sector now accounting for more than 50%1 of the Corporation’s consolidated revenues, and maintaining a healthy and safe workplace for its employees by surpassing the lost time accident frequency rate target for 2018.
As TC Transcontinental’s former plan, Driving Sustainable Results, drew to a close, the Corporation embarked on a large-scale consultation with its stakeholders in order to identify the CSR issues that resonate most with employees, customers, suppliers and investors. Acting Together is the Corporation’s new three-year plan based on the firsthand insight received through this process. In addition to featuring ambitious goals reflective of the ever-evolving and growing environmental and social concerns, Acting Together also aims to converge TC Transcontinental’s business activities with 11 meaningful objectives along four axes: our people, our operations, our products and our communities. These include:
- Move towards a more balanced gender representation in leadership by ensuring at least 30% of female representation on the Board of Directors, having at least 3 women on the Executive Management Committee, and reaching 30% of women in executive and management positions;
- Optimize waste management by aiming for zero non-hazardous waste to landfill in our operating business units;
- Design for end-of-life with 100% of our plastic packaging to be reusable, recyclable or compostable by 2025;
- Invest in our communities by donating $5M over 3 years in financial contributions, goods and services to organizations, projects and programs that support the communities in which we operate.
Mr. Olivier added: “TC Transcontinental is in a unique position to lead the way for a circular economy for plastics, so that plastic never becomes waste. As a leader in flexible packaging in North America, and as Canada’s largest printer, we are building on our expertise, knowledge and experience in having successfully contributed to the creation of a circular economy for paper in Canada. We are now poised to make significant strides in repeating the same process with plastic resin by acting together with collaborators from across the value chain. We invite all of them to join us along the way.”
Magali Depras, TC Transcontinental’s Chief Strategy Officer, concluded: “As a game-changer in food preservation and global food waste reduction, flexible plastic packaging plays a tremendous role throughout the value chain. It extends product shelf life and offers many advantages from an environmental standpoint; namely, more efficient use of resources and increased transportation efficiency. Since we know that the greatest challenge faced by our industry lies in managing plastic end-of-life, our Corporation aims to innovate and pioneer change in sustainable product development by investing in R&D and using more post-consumer recycled content across our portfolio. In creating and launching the strategy presented in Acting Together, our goal is to reach milestones that reflect today’s global concerns while educating our stakeholders and supporting our customers in their own sustainability journey.”
Our public communications often contain oral or written forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them. Forward-looking statements may include observations concerning the Corporation's objectives, strategy, anticipated financial results and business outlook. The Corporation's future performance may also be affected by a number of factors, many of which are beyond the Corporation's will or control. These factors include, but are not limited to, the economic situation in the world, structural changes in the industries in which the Corporation operates, the exchange rate, availability of capital, raw materials costs, competition, the Corporation's capacity to generate organic growth in its Packaging Sector, the Corporation's capacity to engage in strategic transactions and effectively integrate acquisitions into its activities without affecting its growth and its profitability, while achieving the expected synergies, the political and social environment as well as regulatory and legislative changes, in particular with regard to the environment and sustainable development, the impact of digital product adoption on the demand for its printed products, change in consumption habits or loss of a major customer, the safety of its packaging products used in the food industry, innovation of its offering, the protection of its intellectual property rights, concentration of its sales in certain segments, cybersecurity and data protection, recruiting and retaining qualified personnel in certain geographic areas and industry sectors, taxation, interest rate and indebtedness level. The main risks, uncertainties and factors that could influence actual results are described in the Management's Discussion and Analysis (MD&A) for the year ended October 28, 2018 and in the latest Annual Information Form.
Unless otherwise indicated by the Corporation, forward-looking statements do not take into account the potential impact of non-recurring or other unusual items, nor of disposals, business combinations, mergers or acquisitions which may be announced after the date of July 16, 2019.
The forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of applicable Canadian securities legislation.
The forward-looking statements in this release are based on current expectations and information available as at July 16, 2019. Such forward-looking information may also be found in other documents filed with Canadian securities regulators or in other communications. The Corporation's management disclaims any intention or obligation to update or revise these statements unless otherwise required by the securities authorities.
1 Revenues from the Packaging Sector accounted for 38% of the Corporation’s consolidated revenues at the end of Fiscal 2018. As of the first quarter of Fiscal 2019, the Packaging Sector accounted for over 50% of the Corporation's revenues.
About TC Transcontinental
TC Transcontinental is a leader in flexible packaging in North America, and Canada’s largest printer. The Corporation is also a Canadian leader in its specialty media segments. For over 40 years, TC Transcontinental's mission has been to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are the strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has over 9,000 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental had revenues of more than C$2.6 billion for the fiscal year ended October 28, 2018. For more information, visit TC Transcontinental's website at www.tc.tc.
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