This week we published our latest sustainability report and launched our new and ambitious 2020 Sustainability Goals. I am also pleased to announce that Sealed Air also signed the Renewable Energy Buyer’s Principles, a joint initiative of the World Wildlife Fund and the World Resources Institute. Two of our 2020 Sustainability Goals are to reduce the environmental footprint of our operations and to drive actions which benefit society by conserving resources. Availability of cost-competitive renewable energy helps us to meet these goals.
Businesses have a critical role to play in mitigating the effects of climate change by reducing greenhouse gas emissions and using cleaner energy sources - both of which are critical components of our strategy to reduce environmental impact and generate cost savings for our operations. We believe the Renewable Energy Buyers’ Principles could also bring value to our customers by mitigating energy price volatility, reducing the impact of emissions regulations, and helping us to manufacture products using sustainable energy.
The Renewable Energy Buyers’ Principles will ensure renewable energy will become more available and more cost-effective for us, and to help us meet our sustainability goals. I am proud that Sealed Air has joined 43 other companies in becoming a signatory to the Six Principles, which outline exactly what companies need from their energy suppliers to get affordable, clean energy to power their operations. This agreement also extends an open invitation to traditional utilities to collaborate in achieving these goals, which has historically been a challenge. The Principles allow Sealed Air to share our perspective while the marketplace for renewable energy is being shaped on both the supply and demand side.