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On the path to a circular economy, there's no straight line | Greenbiz – GreenBiz



This article is sponsored by WestRock.

The path toward a circular economy is more of an angled one than a straight line and more nuanced than the “all or nothing” language that is often employed in sustainability conversations. 

When I joined WestRock as the company’s new chief sustainability officer in December 2020, I came with the philosophy of working toward a more circular future, one step at a time, leveraging pivotal collaborations, and celebrating incremental successes. As a leading provider of differentiated paper and packaging solutions, we at WestRock are in an important position, not only to embody sustainable change, but innovate for it in a way that encourages our customers to adapt to a more sustainable packaging model. Here’s how we’re leading the way down the winding path to circularity. 

Defining the Circular Economy

Every step of the way on the path to circularity we are thinking about how we can generate less waste and more opportunities to extend the usefulness of materials. The relationship packaging companies and landowners have with forests truly is symbiotic. We all want to keep forests healthy, so we can continue making the best use of this remarkable and renewable resource. So, at WestRock, we start with the trees. How can the company ensure forests are growing sustainably? How can the company ensure that the 10,000 private landowners WestRock engages with annually, and their stakeholders, are adequately educated on the importance of sustainable land management? Virgin fiber is an important part of the circular economy, and responsible oversight of this sustainable forest resource is critically important to WestRock.

WestRock’s Innovative Fiber-Based Solutions for Various Companies

The very nature of WestRock’s business model is circular — from producing fiber-based packaging to recycling the fibers from packages consumers use in the production of new packages. 

The key to effectively working toward a more circular economy is so much about knowing the right people to partner with and having the patience to see that incremental progress can have a long-lasting sustainability impact.   

As an Ellen MacArthur Foundation member, WestRock is connected with some of the greatest minds collaborating to work toward a more circular economy. With partners including the American Forest Foundation and the Sustainable Packaging Coalition, we are thinking about the circular economy at large, and at every stage of a product’s lifecycle — that means the company is resourcing, designing, reusing and recycling with circular economy principles at the center of its strategy.

With its automated packaging solutions, fiber-based alternatives to plastics and a portfolio of fiber-based packaging that is rightsized — and, in many cases, reusable, recyclable or compostable — WestRock is providing brands in the CPG space, and more, with insights on how they can incorporate fiber-based solutions into their products. WestRock’s customers are coming to us for a vision and plan to develop tailored sustainability solutions that support their sustainability goals. I remember growing up as a child, cutting the plastic six-pack rings before we threw them away for fear of the impact they would have on wildlife, so it gives me great joy to see WestRock innovate a fiber-based alternative, CanCollar, that gives soda’s plastic six-pack ring a more sustainable makeover.

We have to be good listeners. What is the market telling us? We’re listening to consumers, customers and beyond, including the investment community too. Right now, investors are telling us sustainability is a priority. On that note, I’m really excited that in 2020, WestRock was named to the DJSI World and DJSI North America Indices. 

Consumers and Sustainability: Navigating Competing Priorities Amid the Pandemic 

Consumers are actively looking for ways to reduce their impact on the environment moving forward.

I was intrigued and encouraged by the results of a WestRock Pulse Packaging survey to gauge consumer attitudes where we found 82 percent agreed it is important for brands to balance safety and concern for the environment when designing product packaging; there were notable increases in the demand for packaging that is easily reused, easily identifiable as environmentally friendly, and easily recycled. While the great debate at the grocery checkout has been “paper or plastic,” that conversation is heading into the aisles where consumers are holding products to a higher sustainability standard. 

WestRock is proactively coming up with solutions that help usher brands further and further away from the tradition of single-use plastics — challenging traditional notions of what should be plastic and innovating for fiber-based alternatives that perform as well, if not better, with less impact on the planet. 

I mentioned the Coca-Cola CanCollar earlier. That’s just one example of WestRock’s fiber-based plastic replacement innovations. Solving for tear resistance and theft deterrence, WestRock produced a fiber-based package for First Alert that replaced a fully enclosed PET blister clamshell with a NatraLock®  blister card, a sturdy, flexible, more sustainable alternative to traditional blister seal and clamshell applications. In the health and beauty sector, EcoPush® is an all-paperboard package that directly houses oil-based solids such as balm, solid perfume, deodorant and other oil-based solids. Not only is the exterior fiber-based, but by lining the interior with an oil-resistant paper barrier, WestRock was able to extend the fiber-based benefits throughout the packaging. Also in the health and beauty sector, the WestRock Paper Palette replaces all plastic elements used in ordinary makeup palettes with fiber. 

Innovating for fiber-based solutions that operate like plastic is just one element of working toward a more circular economy. Companies need to get active and get clear with consumer when talking about recycled content. There are so many myths and misconceptions. 

Here’s the thing, 100 percent recycled content is not a sustainable option at scale. Fibers can only be recycled five to seven times before they simply drop out of the papermaking process. We need to incorporate virgin fibers to increase the longevity of fiber cycles in packaging. Our minds love the tidiness of 100 percent, and our hearts connect with the passion of an all or nothing promise. But the truth is, virgin fibers play a pivotal role in promoting greater sustainability and performance, which is why WestRock prioritizes sustainable forestry as an invaluable aspect of recycled content. 

How WestRock Innovates for Its Own Clients

WestRock is seeing increased interest in tamper-evident packaging and anti-microbials. Our innovation team recently developed its BioPak Protect™, a fiber-based food container that features a tamper-evident pull tab seal similar to those used on mailer packages. We’re also seeing a lot of traction around increasing the recyclability of foodservice packaging. WestRock’s EnShield® Natural Kraft paper for foodservice packaging resists grease and oil stains by providing the same protection as poly-coating without the plastic. And with the food bowl industry booming, WestRock has introduced a new automation technology for the fast-growing food bowl segment, CP eMerge™ Combo  (a fiber-based alternative to plastic food bowls).

Of course, everyone is always looking for the rightsized packaging. WestRock’s BoxSizer®  intelligent right-sizing technology is the only machine on the market that can right size multiple preloaded box footprints arriving at random to the infeed without the need for changeovers. It does this with folding, not cutting, so no material is wasted. I am really excited about the work our team will continue to do, scaling right-size packaging options for our customers without compromising the product’s value. 

The Role of Education – Both Consumer and Sustainability, at large – in the Circular Economy

WestRock has 18 recycling plants across the U.S. that recycle 8 million tons of materials per year — which eclipses its 5.5 million tons of recycled fiber consumption. The company recycles more fiber than it uses. 

Through a partnership with The Recycling Partnership, WestRock is working to increase awareness of recyclability and educate consumers. In 2019, to help dispel the myth that corrugated pizza boxes are not recyclable, WestRock commissioned a study of the availability of recycling programs in the U.S. for corrugated pizza boxes. In 2020, WestRock delved into this further, conducting a grease and cheese study that concluded normal amounts of grease and residual cheese do not negatively affect the manufacturing of new products from this recycled fiber. This study was reviewed and endorsed by industry partners that validated the findings, confirming corrugated pizza boxes could actually be recycled at least seven times. This work will be expanded in 2021 to deliver Sustainable Choices — a pizza box recycling educational program — to pizza box customers and pizza consumers across the U.S. 

This is incredibly important because Americans consume A LOT of pizza, and those boxes are made of high-quality corrugated paper, as I previously mentioned. We’re looking at more than 600,000 tons of corrugated board a year that could be recycled from pizza boxes alone. 

As the largest pizza company in the world based on retail sales, Domino’s helped share this information with the launch of Recycle My Pizza Box — a hub of information about proper pizza box recycling where visitors can input their ZIP code to find out about recycling in their municipality. 

As we move forward, many e-commerce habits are going to stick. With more recycling happening at the curb instead of at stores, investments in improving residential recycling infrastructure will be necessary. WestRock invested $2 million to upgrade its Marietta, Georgia, facility in October 2020 to improve single stream recycling efficiency. We continue to consider other areas for investment and partnership to make curbside recycling more efficient. 

I’m also looking forward to expanding efforts to engage with family forest owners about how to sustainably manage their forests. It’s astonishing to think that family forest owners comprise the largest source of wood in the U.S.—36 percent compared to just 19 percent that is corporately owned. It’s essential to equip these families with the tools, education and resources they need to understand how to protect and promote sustainable growth.

How WestRock is Addressing Its Challenges 

There’s a regulatory landscape that’s shifting with the new federal administration. WestRock’s investments in its internal capacity enable the company to meet this moment. The company’s hiring of a chief sustainability officer and senior vice president of innovation, both with growing teams, is indicative of that commitment. The sustainability team works closely with the innovation team to drive strategy, communicate customer priorities, and sustainability opportunities enabling us to general innovative sustainable packaging solutions. 

I mentioned persistence before. Working toward a circular economy requires us all to be agents of change with focus. Everything is moving so quickly — from our news cycles to our ability to click a button on our phones and have a product at our door sometimes as soon as hours later.  This is a three-, five-, 10-year journey — change doesn’t happen overnight. True, lasting, sustainable impact is incremental and endures. By listening, partnering with stakeholders and offering innovative solutions, WestRock will continue to advance the circular economy, partnering with our customers to create a more sustainable future.

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CANADA STOCKS – TSX ends flat at 19,228.03



* The Toronto Stock Exchange’s TSX falls 0.00 percent to 19,228.03

* Leading the index were Corus Entertainment Inc <CJRb.TO​>, up 7.0%, Methanex Corp​, up 6.4%, and Canaccord Genuity Group Inc​, higher by 5.5%.

* Lagging shares were Denison Mines Corp​​, down 7.0%, Trillium Therapeutics Inc​, down 7.0%, and Nexgen Energy Ltd​, lower by 5.7%.

* On the TSX 93 issues rose and 128 fell as a 0.7-to-1 ratio favored decliners. There were 26 new highs and no new lows, with total volume of 183.7 million shares.

* The most heavily traded shares by volume were Toronto-dominion Bank, Nutrien Ltd and Organigram Holdings Inc.

* The TSX’s energy group fell 1.61 points, or 1.4%, while the financials sector climbed 0.67 points, or 0.2%.

* West Texas Intermediate crude futures fell 0.44%, or $0.26, to $59.34 a barrel. Brent crude  fell 0.24%, or $0.15, to $63.05 [O/R]

* The TSX is up 10.3% for the year.

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Canadian dollar outshines G10 peers, boosted by jobs surge



Canadian dollar

By Fergal Smith

TORONTO (Reuters) – The Canadian dollar advanced against its broadly stronger U.S. counterpart on Friday as data showing the economy added far more jobs than expected in March offset lower oil prices, with the loonie also gaining for the week.

Canada added 303,100 jobs in March, triple analyst expectations, driven by the recovery across sectors hit by shutdowns in December and January to curb the new coronavirus.

“The Canadian economy keeps beating expectations,” said Michael Goshko, corporate risk manager at Western Union Business Solutions. “It seems like the economy is adapting to these closures and restrictions.”

Stronger-than-expected economic growth could pull forward the timing of the first interest rate hike by the Bank of Canada, Goshko said.

The central bank has signaled that its benchmark rate will stay at a record low of 0.25% until 2023. It is due to update its economic forecasts on April 21, when some analysts expect it to cut bond purchases.

The Canadian dollar was trading 0.3% higher at 1.2530 to the greenback, or 79.81 U.S. cents, the biggest gain among G10 currencies. For the week, it was also up 0.3%.

Still, speculators have cut their bullish bets on the Canadian dollar to the lowest since December, data from the U.S. Commodity Futures Trading Commission showed. As of April 6, net long positions had fallen to 2,690 contracts from 6,518 in the prior week.

The price of oil, one of Canada‘s major exports, was pressured by rising supplies from major producers. U.S. crude prices settled 0.5% lower at $59.32 a barrel, while the U.S. dollar gained ground against a basket of major currencies, supported by higher U.S. Treasury yields.

Canadian government bond yields also climbed and the curve steepened, with the 10-year up 4.1 basis points at 1.502%.


(Reporting by Fergal Smith; Editing by Andrea Ricci)

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Canadian dollar rebounds from one-week low ahead of jobs data



Canadian dollar

By Fergal Smith

TORONTO (Reuters) -The Canadian dollar strengthened against its U.S. counterpart on Thursday, recovering from a one-week low the day before, as the level of oil prices bolstered the medium-term outlook for the currency and ahead of domestic jobs data on Friday.

The Canadian dollar was trading 0.4% higher at 1.2560 to the greenback, or 79.62 U.S. cents. On Wednesday, it touched its weakest intraday level since March 31 at 1.2634.

“We have seen partial retracement from the decline over the last couple of days,” said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets.

“With oil prices where they are – let’s call WCS still at roughly $49 a barrel – I still think CAD has room to strengthen over the medium term and even over a one-week horizon.”

Western Canadian Select (WCS), the heavy blend of oil that Canada produces, trades at a discount to the U.S. benchmark. U.S. crude futures settled 0.3% lower at $59.60 a barrel, but were up nearly 80% since last November.

The S&P 500 closed at a record high as Treasury yields fell following softer-than-anticipated labor market data, while the U.S. dollar fell to a two-week low against a basket of major currencies.

Canada‘s employment report for March, due on Friday, could offer clues on the Bank of Canada‘s policy outlook. The central bank has become more upbeat about prospects for economic growth, while some strategists expect it to cut bond purchases at its next interest rate announcement on April 21.

On a more cautious note for the economy, Ontario, Canada‘s most populous province, initiated a four-week stay-at-home order as it battles a third wave of the COVID-19 pandemic.

Canadian government bond yields were lower across a flatter curve in sympathy with U.S. Treasuries. The 10-year fell 3.3 basis points to 1.469%.

(Reporting by Fergal Smith;Editing by Alison Williams and Jonathan Oatis)

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