The TeraPlast Group becomes part of the UN Global Compact, the world’s leading responsible corporate governance initiative. With this voluntary membership, TeraPlast has committed to promote the ten principles of the UNGC in the areas of human rights, labour standards, environment, anti-corruption and to contribute to the achievement of the 17 Sustainable Development Goals included by the United Nations in the 2030 Agenda for Sustainable Development.
TeraPlast becomes part of a global project to which more than 13,000 companies and organizations from 160 countries around the world have signed up and is the only Romanian company in the processing industry sector, signatory to the UN initiative.
“Sustainability is an integral component of our company’s strategy and development and joining the UN initiative is natural. These are principles that we already apply, so it is not an additional effort as it is an integral part of our business model. TeraPlast is the largest polymer processor in Eastern Europe, where sustainability is a central point on the agenda of all the international organisations we belong to. We are committed to our shareholders to deliver double-digit growth year on year, and this growth is based on innovation and responsibility towards the future,” said Alexandru Stânean, CEO of TeraPlast.
One of this year’s priorities is to double TeraPlast Recycling’s recycling capacity to 31,000 tonnes, which will lead to a reduction in CO2 emissions of up to 62,000 tonnes per year through recycling activity alone. The recovered material is mainly used internally in the production of pipes for outdoor sewerage. In addition, as part of one of the state aid investment projects, production capacity for multilayer pipes with recycled core will be expanded in 2021.
The Group’s sustainability is also reflected in the construction of the new biodegradable film plant. The project has a total value of almost €12 million, is being implemented and production is due to start in the 3rd quarter of this year.
In the meantime, TeraPlast will extend the photovoltaic panels project to all the halls in the industrial park in Sărățel. Currently, the company has more than 7,000 panels totalling 12,000 sqm in area. In this way, the company is reducing CO2 emissions by a further 660 tonnes per year.
Other sustainability initiatives of the company include: digitisation of processes, implementation of good corporate governance practices, integrated management system, responsible waste management, occupational health and safety measures and community involvement.
About TeraPlast Group
The Group is composed of the companies TeraPlast, TeraGlass, TeraPlast Recycling, TeraPlast Biodegradable Foils and Somplast. Since 2 July 2008, TeraPlast SA is listed on the Bucharest Stock Exchange under the symbol TRP. The company’s shares are included in the BET benchmark index of the Bucharest Stock Exchange and, from September 2020, in the TotalCap and MicroCap indices of the FTSE Russell. In the Vektor assessment based on 15 investor relations communication criteria conducted by ARIR, TeraPlast scored the highest score, 10, for the second consecutive year.
About the UN Global Compact
Launched in 2000, the UN Global Compact is a guide for the business community in promoting values through sustainable corporate practices. The United Nations initiative is a call to all companies to align their operations and strategies with several universal principles. More than 10,000 companies and 3,000 non-governmental organisations or academic entities have joined the initiative.
Source: teraplast.ro
Cover picture: teraplast.ro
