Sustainability.
Consumers want more.
Brands demand more.
To meet that demand, we must understand what is important to our consumers. More of them demand greater responsibility from the brands they love; therefore, it’s vital for brand owners to invest and engage in achieving ESG (environmental, social and corporate governance) to keep consumers happy—and shopping.
At Priority Plastics, we believe in pursuing the right suite of solutions and providing the options that work with the wants of the consumer and the needs of the brands.
67% of shoppers said they’re well aware of environmental responsibilities, while 19% are extremely committed. 70% of consumers would even pay more for sustainable packaging.
The numbers say it all. Sustainable products have an overall 17% market share and a 32% share of growth. Moreover, products marketed and recognized as sustainable grew 2.7x faster than those that weren’t. Consumers also know know that a product AND its packaging need to be sustainable to deserve their share of mind and share of wallet.
As for businesses themselves, 93% of the world’s 250 largest companies report regularly on sustainability. They’re taking responsibility seriously.
Lighter material for cheaper transportation. More recycled materials in their containers. Post-consumer resins [recycled plastics] for repeated use.
Providing possibilities and satisfying an ever-growing list of demands, GreenLite is our solution for your needs—now and into the future. It’s a win-win-win as our products cover all three major attributes:
Lightweighting: On average, these items are made with 20% less resin, all while not compromising durability and viability.
Eco Multilayer: The core content contains recycled material of post-consumer resins—sandwiched between virgin resin layers.
Post-Consumer Resins: These are plastics that have transcended the “single-use” moniker. They are recycled and repurposed and are ready to use again.
GreenLite strives to meet the needs of Environmental, Social and Governance [ESG].
ESG refers to a set of standards for a company’s behavior used by responsible investors to screen potential investments. It’s a framework used to assess an organization’s business practices and performance based on a long list of sustainability and ethical issues.
ESG is not some passing trend—it’s important and needs to be fully embraced as more and more companies move toward greater sustainability practices.
Companies use ESG reporting as a tool to disclose their progress. For environmental issues, this covers topics like carbon emissions, energy efficiency, waste management, deforestation and air and water pollution. Priority Plastics understands how important how important it is to protect our our planet and looks to partner with companies serious about scaling their sustainability efforts.
And yes, ESG makes a significant difference on bottom lines. Products without the ESG-related claims on their labels grew 4.7% per year. Products with the ESG claim on their labels grew 6.4% per year. These numbers show why ESG is not some passing trend and should be fully embraced as more and more companies move toward greater sustainability practices.
Plastics will continue to hold an important role in our daily lives, and partnerships with companies like ours can serve as the game changers in influencing customers’ perceptions. As proponents of ESG, companies should feel galvanized knowing they have a partner like Priority Plastics in their corner, eager and ready to support them and face environmental challenges head on.
There’s been a dynamic shift in recent years with consumers demanding more responsibility from their brands. The more brand owners do their part to help ESG, the more consumers are spending on those initiatives.
When it comes to plastics, we don’t wait for the future. We’re making moves today.
We’ve invested millions of dollars into technological upgrades to all- electric machines—the first step in reducing carbon footprints, creating faster changeovers and raising productivity. Multilayer technology uses closed-loop or post-consumer regrind, while our lightweight option uses up to 20% less virgin plastic resin.
Our commitment to sustainability forges on as we work to become members with leading advocates of sustainability like EcoVadis. EcoVadis provides holistic sustainability rating services of companies to benchmark and identify areas of improvement in environment, social, ethics and sustainability; partnering with organizations like this gives us the foresight to improve and establish best practices.
We know how important plastics are in our everyday lives. However plastics, in general, rarely come to mind when speaking about sustainability. That is the reason why we at Priority Plastics must remain strong in our everyday efforts. We work better. We work harder. We work smarter.
The technological investments and operational shifts here at Priority Plastics are enabling us to work toward being a more sustainable company. We continue to look for new solutions and always have a future-forward eye on preserving the health and integrity of our planet. Today. Tomorrow. Beyond.