FINLAND (News release) -- Sustainability lies at the center of Huhtamaki's 2030 Strategy and the Company is making a leap forward towards delivering on its ambitions by closing two 10-year virtual Power Purchase Agreements (VPPAs) with BayWa r.e., a global renewable energy developer. The 200 GWh agreements cover approximately 80% of Huhtamaki's current electricity usage in Europe, where the key global provider of sustainable packaging solutions has 18 manufacturing sites in 10 countries.

"We are committed to our ambitious 2030 strategy to become the first choice in sustainable packaging solutions. This means developing a circular approach for our operations and products. We are fully committed to supporting the transition to a zero-carbon economy and have a climate strategy with clear targets and action plans to address all our emissions. Renewable electricity plays a major role in delivering on our ambitions and the agreement we have just signed with BayWa r.e. demonstrates that it is possible to achieve significant progress in a short time," says Charles Héaulmé, President and CEO of Huhtamaki.

"The science-based targets validated and approved by the Science Based Targets initiative in 2021 mean that we need to address our Scope 1, 2 and 3 emissions. Today, the majority of our Scope 2 emissions are related to purchased electricity and we can address them efficiently by switching to renewable electricity. The agreement with BayWa r.e. is our first VPPA, in line with our shift to renewable energy sources globally. We expect to embark on other VPPA's shortly, with the next one in the United States. In addition, we are installing solar panels at our sites where feasible and working relentlessly to improve our energy efficiency. The progress Huhtamaki is making in switching to 100% renewable electricity plays a significant role also in delivering on our ambition of carbon neutral production by 2030. Additional measures are however needed to address our Scope 1 emissions. In addition to improvements in energy efficiency these include switching to alternative fuels and electrification of systems," says Thomasine Kamerling Executive Vice President, Sustainability and Communications.

Huhtamaki's VPPAs make more renewable electricity available in Europe
As part of the VPPAs, BayWa r.e. will build two new solar installations in Spain bringing a significant addition of renewable energy to the European grid. The two new solar sites have a combined volume of 200 GWh of renewable electricity per year - enough electricity to power almost 25,000 households - resulting in saving over 89,000 tons of CO2 annually.

"Huhtamaki is taking a leading role in driving forward the renewable energy transition in the packaging industry and I hope this encourages other corporations to follow. Supporting Huhtamaki on its journey to achieving the company's sustainability goals represents another important milestone in BayWa r.e.'s own commitment to advancing the corporate energy transition that is so pivotal to meeting global climate targets", added Matthias Taft, CEO, BayWa r.e."