TAMPA, FL / ACCESSWIRE / April 10, 2024 / Crown Holdings, Inc.
Company's latest achievement further verifies ethical practices throughout value chain and shows commitment to transparency
Crown Holdings, Inc. (NYSE:CCK) (Crown) (www.crowncork.com) has received the Aluminium Stewardship Initiative (ASI) Chain of Custody (CoC) Standard V2 (2022) Certification for its Mexican operations-the latest addition to a series of responsible sourcing credentials around the globe. By monitoring materials into their downstream stages, the certification aims to verify whether organizations maintain due diligence as their products move throughout their complete life cycles. For Crown, this achievement underscores a commitment to transparency and demonstrates a focus on product stewardship as part of the Company's Twentyby30 sustainability program.
The ASI CoC Standard V2 applies to the production of beverage cans, can ends and ROPP closures at Crown Mexico facilities, including Crown Ensenada, Crown Guadalajara, Crown Toluca, Crown Latas Monterrey, Crown Cierres Monterrey and its headquarters in Monterrey, Mexico. Comprising a collective annual production capacity of 6.85 billion beverage cans, 6.7 billion can ends and 400 million ROPP closures, the facilities originally received Performance Standard V2 (2017) in January 2022.
"Across all of our facilities in Mexico, we are mindful of the materials we utilize and how our products make their way through the market, as we understand our responsibility extends beyond our own manufacturing lines," said Eduardo Argueta, President of Crown Mexico. "We are honored that ASI has verified our practices for alignment with the CoC Standard, as we always aim to meet the industry's highest expectations for ethics and corporate stewardship."
Serving as an extension to the ASI Performance Standard, the CoC Standard sets requirements for material that is produced and processed through the value chain into diverse downstream sectors. The implementation of the ASI CoC Standard links verified practices at successive steps of the supply chain - certified under the ASI Performance Standard - to the products produced by ASI Certified Entities. The CoC Standard also confirms that appropriate policies and due diligence process are in place to identify and address critical issues, such as corruption, human rights abuses, materials originating from conflict-affected and high-risk areas in the supply chain and support responsible sourcing.
"It is no longer enough to simply share material origins," said John Rost, Senior Vice President - Crown Technology, Sustainability and Regulatory Affairs at Crown. "As a corporation with a global presence, we must do our part to establish thorough precautionary measures up and down our value chain-and to be transparent about the steps we are taking to protect the environment, communities and employees as we work to meet consumer demand. Our latest ASI certification shows we are being hypervigilant and are making the effort to minimize our impact at every stage."
Prior to achieving the ASI CoC Standard V2, Crown Mexico was verified with the ASI Performance Standard. The Company also previously received verification in several other countries, including Brazil, Colombia and Thailand, and continues to pursue verification in other regions across its global footprint.
ASI is a global, multi-stakeholder, non-profit standards and certification organization which works to maximize the contribution of aluminum to a sustainable society. The independent, third-party audit of Crown's Mexican facilities was carried out by DNV Business Assurance Services UK Ltd.
To learn more about Crown's efforts around responsible material sourcing and its comprehensive Twentyby30 sustainability program, visit crowncork.com/sustainability.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida. For more information, visit www.crowncork.com.
For editorial inquiries: Emily Hogan, Senior Account Executive, FINN Partners; Tel: (630) 248-5232; Email: emily.hogan@finnpartners.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements within the meaning of federal securities law. These forward-looking statements involve a number of risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2023 and in subsequent filings. The Company does not intend to review or revise any particular forward-looking statement in light of future events.
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