Month: July 2023

O-I Glass is in continuous pursuit of its vision to be the most innovative, sustainable, and chosen supplier of brand-building packaging solutions. While glass packaging is arguably one of the most sustainable packaging materials for food and beverages, the journey to sustainability for O-I is grounded in resilience, innovation, and the drive to transform the glass packaging industry.

To realize its vision, O-I Glass has set ambitious yet attainable goals, including a 25% reduction in greenhouse gas (GHG) impacts by 2030. The Company is recognized as the first glass packaging company to obtain an approved Science-Based Targets initiative GHG emissions reduction goal (established based on a 2-degree pathway), on its journey to a lower-carbon future.

Reducing GHG emissions is a crucial element of O-I’s sustainability journey, given that glass melting heavily relies on natural gas and electricity, resulting in significant emissions. In fact, over 80% of Scopes 1 and 2 GHG emissions for the company originate from fuel consumption and electricity usage in the glass-making process. To address this, O-I is embracing low carbon solutions such as cleaner alternative fuels, utilizing waste heat, and increasing the use of cullet (recycled glass) instead of energy-intensive raw materials. 

The company is also expanding the use of renewable electricity sources to power its operations. And, O-I is updating its energy management system to guide its energy and emission reduction initiatives. In Europe, the company has 16 plants already certified under ISO 50001 for energy efficiency.

In its most recent sustainability report, the company notes increased use of renewable electricity year over year with a global renewable electricity volume of 30 percent – a 16 percent increase from 2020. Thanks to these combined efforts, O-I has achieved an impressive 18% reduction in emissions compared to its 2017 baseline—about a 5% decline from 2021. 

To learn more about O-I’s holistic approach to sustainability and its progress against its goals, visit o-i.com.

A ribbon cutting on Tuesday June 11, 2023 signaled the completion of construction of True Bethel Commons in Niagara Falls, NY. KeyBank Community Development and Lending provided financing for the $15 million adaptive reuse of the vacant former historic Sacred Heart school, rectory and convent buildings on South Avenue.

“True Bethel Commons is already having transformative impact on the neighborhood surrounding the former Sacred Heart school, rectory and convent buildings on South Avenue, bringing safe and affordable housing to this area,” said Michael McMahon, KeyBank Buffalo Market President and Regional Commercial Bank Executive. “We are very proud to have played a role in helping True Bethel Commons become reality and thank all of the partners in the project – Belmont Housing, True Community Development Corp., New York State and the City of Niagara Falls – for their vision and commitment to our community.”

“True Bethel Commons is representative of what we want to invest in, because it is community-based,” said Kate de la Garza, senior relationship manager with KeyBank Community Development Lending. “It came from an on-the-ground vision of True Bethel Baptist Church in partnership with Belmont. So you know that it’s reflective of the neighborhood that it is in.”

The building’s 39 apartments are available to households earning at or below 50 percent of the Area Median Income. Eight apartments are fully accessible and adapted for people with certain physical needs. The project has 24 Project-Based Section 8 Housing Choice Vouchers from the city of Niagara Falls.

True Bethel Commons is close to health care facilities, municipal services, schools, retail establishments, grocery stores, pharmacies, a library, and public parks. Its urban location provides direct access to multiple public transportation routes that provide residents direct access to the City of Niagara Falls’ commercial corridors and an array of other services outside of the immediate neighborhood.

The complex in Niagara Falls, which dates to 1889 and was expanded over the years, is listed on the State and Federal Register of Historic Places. As such, the reuse design was required to preserve the character of the buildings, including maintaining the wide school corridors and transom windows, as well as the extensive woodwork and stained-glass windows in the rectory and convent house, and retaining a large portion of the gymnasium.

The project meets Enterprise Green Communities requirements and building amenities include a community room with a kitchen area, playground, bulk storage for bikes and other larger objects, computer room, and laundry. Tenants are responsible for electricity, heat, and gas costs. All apartments include energy efficient ranges and ovens, refrigerators and lighting.

Belmont Housing Resources for WNY, Inc. is the developer in partnership with True Community Development Corporation. Ranked as a Top 4 affordable housing lender for 2022 by Affordable Housing Finance, KeyBank is committed to bringing much needed housing projects to life, and homes to those in need.

Learn more about KeyBank’s commitment to helping clients and communities thrive 
 See KeyBank’s latest Environmental, Social and Governance Report

 

In the second installment of our CSRD series, Mandi McReynolds is joined by Amelia Pan of PJT Partners, an advisory-focused investment bank, and Diana Tidd, formerly of MSCI and the company’s first chief responsibility officer. The group discusses everything from metrics and materiality to integration and data, and how the role of the chief sustainability officer is evolving to meet new demands.

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