Our Sustainability Challenges & Opportunities
Identifying, prioritising and managing our sustainability challenges is part of how we do business at Amcor.
Sustainability risks and opportunities are assessed under our enterprise risk management (ERM) framework. Our ERM framework adopts a holistic, aligned and integrated approach to risk management and is consistent with ISO 31000:2009. We also consider issues raised by our key stakeholders and international benchmarks for sustainability performance. These findings are reported to our Board twice per year and inform our strategic planning and budgeting processes. Feedback from our participation in the Dow Jones Sustainability Index (DJSI) is also reported to our Global Executive Team annually.
This means that we act on the sustainability risks and opportunities that we identify. Read more in Governance and risk management
Challenges and Opportunities (mapped on the target diagram above)
1. Challenge: Managing through the global financial crisis (GFC)
Opportunity: Our businesses operate in the defensive product segments of food and beverages and this has resulted in underlying demand being relatively resilient against a backdrop of weaker economic conditions.
2. Challenge: Economic impacts of climate change, sea level rise and extreme weather events
Opportunity: We are reducing the greenhouse gas intensity of our processes and products to create new areas of competitive advantage. We are investing and preparing for climate change.
3. Challenge: Changing consumer tastes towards sustainable packaging products
Opportunity: To become a leader in sustainable packaging, creating new areas of competitive advantage such as supply chain partnerships and product lifecycle assessments.
4. Challenge: Regulatory and stakeholder expectations for operations with low environmental impact
Opportunity: We are reducing the environmental impacts of our manufacturing processes and products to create new areas of competitive advantage and reduce costs.
5. Challenge: Occupational health and safety
Opportunity: To become internationally recognised for our safe work practices and to share our expertise with our suppliers and customers to help them achieve their own health and safety goals.
6. Challenge: Talent management
Opportunity: Employee engagement and recognition as employer of choice, allowing us to attract and retain the best talent.
7. Challenge: Community support for our operations – our social licence to operate
Opportunity: To build effective partnerships and seek constructive dialogue with the communities in which we operate.
8. Challenge: Managing growth opportunities
Opportunity: Successful integration of acquisitions to fully realise the strategic, financial and operational benefits.