Company signs American Business Act on Climate Pledge, takes part in COP21 events, aims to cut emissions by at least 26 percent

GLENDALE, Calif. - Calling climate change “an imminent global threat that demands urgent action from all segments of society,” Avery Dennison Corporation (NYSE: AVY) announced today that it has signed the American Business Act on Climate Pledge, a White House initiative to enlist U.S. companies in reducing greenhouse gas emissions.

With this pledge, Avery Dennison is joining more than 140 companies who have voiced support for a strong outcome at the United Nations Climate Change Conference being held in Paris from November 30 to December 11 and have underscored their commitment to reducing emissions from their operations.

“Signing the pledge was an easy decision because we’re already doing the things that the pledge asked of us,” said Dean Scarborough, Avery Dennison’s Chairman and Chief Executive Officer. “We unequivocally support an agreement coming out of Paris that takes a strong step toward a low-carbon future. We are cutting our own carbon emissions and taking additional measures to tackle climate change.”

The full text of Avery Dennison’s pledge reads as follows:

We applaud the growing number of countries that have already set ambitious targets for climate action. In this context, we support the conclusion of a climate change agreement in Paris that takes a strong step forward toward a low-carbon, sustainable future.

We recognize that delaying action on climate change will be costly in economic and human terms, while accelerating the transition to a low-carbon economy will produce multiple benefits with regard to sustainable economic growth, public health, resilience to natural disasters and the health of the global environment. We put forth our pledges as follows:

Building on a 2009 pledge to reduce greenhouse gas emissions, indexed to net sales, by 15% from 2005 to 2015, Avery Dennison pledges to:

• Reduce absolute greenhouse gas emissions from our operations by at least 3% annually, and by at least 26% overall, between 2015 and 2025.
• Eliminate deforestation from the production of agricultural commodities by 2020, in alignment with the 2014 New York Declaration on Forests.
• Purchase 100% of our paper from certified sources by 2025.
• Purchase at least 70% of our paper from FSC-certified sources by 2025.
• Develop long-term business plans that align with the deep decarbonization necessary to keep global average temperatures from rising more than 2°C.

Scarborough will speak in Paris next week as part of the Sustainable Innovation Forum, which will run concurrently with the COP21 climate talks. Avery Dennison supports an agreement that will cut emissions enough to keep the average global temperature increase below 2 degrees Celsius, which scientists say is necessary to avoid the worst effects of climate change.

Scarborough said his company supports strong and immediate efforts to curb emissions for reasons both ethical and commercial.

“Climate change is an imminent global threat that demands urgent action from all segments of society—including business— while we still have time to act,” he said. “It poses risks to people, communities, ecosystems and, obviously, our business. Responding to climate change by reducing emissions is, above all, a moral imperative. It’s consistent with our company’s ethics and guiding principles. And if we want to stay in business for the long term, then addressing the risks posed by climate change is simply sound strategy.”