Packaging developed and made by Amcor protects products, extends their shelf life, and reduces waste throughout the global supply chain.
However, what we do goes far beyond that. We are committed to responsible packaging. Besides assuring that contents safely reach their intended destinations, responsible packaging means manufacturing with the right amount of the most appropriate materials, using best practices, and minimizing waste. As the world population continues to grow, these principles are increasingly important.
Customers, co-workers, investors and the environment all hold stakes in what Amcor does and how we do it. All of them have interests in how we approach occupational health and safety, sustainable sourcing, product quality, carbon emissions, and waste.
Packaging waste includes the loss of resources when packaging is not recovered or recycled, as well as marine debris and litter. According to the Ellen MacArthur Foundation's report "New Plastics Economy: Rethinking the Future of Plastics", as much as $120 billion worth of plastic packaging material is lost to the economy annually after being used only once.
We are working with other companies and organizations to increase the recovery of and reduce the negative effects of packaging products on the environment. Key partners include the Ellen MacArthur Foundation, the Trash Free Seas Alliance, the Recycling Partnership, Project Reflex, REDcycle, and many Amcor customers and suppliers.
Working to reduce packaging waste is just one illustration of how sustainability goals and business goals can and must align, so that Amcor remains a strong, growing company. We are also helping customers and vendors reach sustainability goals and reduce environmental impact within our shared supply chains and product life cycles. For example, we are encouraging key suppliers to undergo EcoVadis assessments and, so far, 85% of our global procurement spend is with suppliers who have been risk-assessed.
Packaging plays an important role in reducing food waste around the world. Our partnership with the World Food Programme (WFP) continues to improve lives in some of the most remote and volatile regions in the world. Amcor's expertise allows WFP to provide more people in challenging humanitarian contexts with well-packaged, safe and nutritious food.
Progress against our EnviroAction targets demonstrates that we continue to improve the environmental performance of Amcor's operations. We recently concluded a second five-year program by outperforming each of our goals. In our current fiscal year we are setting and beginning work toward new targets to further reduce our greenhouse gas emissions, waste, and water use.
We are proud that global and regional indices recognise us for our sustainability performance. Amcor is included in the Dow Jones Sustainability World Index, the CDP Climate Disclosure Leadership Index for Australia, the MSCI Global Sustainability Index series, the Ethibel Excellence Investment Register and the FTSE4Good Index.
Amcor people recognize that leadership in the global packaging industry includes accountability for helping to reduce the environmental and social effects of our business and our industry overall. We appreciate your interest in our efforts, and invite your feedback via amcor.com.
Chief Executive Officer