Real Assets
We build future energy systems and resilient infrastructure, backing emerging opportunities in technology, land and water.
Smurfit Kappa Group Plc collects, manufactures and sells recycled cardboard. The company is headquartered in Ireland and operates throughout Europe and the Americas. Smurfit Kappa is the largest producer of recycled cardboard products in Europe with clients in food, beverages, household consumables and industrial markets.
Objective:
To convince the company to help regenerate biodiversity as an opportunity for the business rather than focus primarily on limiting negative impacts as part of compliance.
Background:
As a manufacturer and wholesaler of recycled cardboard, we note Smurfit Kappaâs high-level of awareness of biodiversity through its forest certification work. However, in order to bolster its sustainability leadership claims, our objective is for the company to seize the associated innovation opportunity rather than focus only on the compliance aspect.
In late 2021, we briefly discussed this with the companyâs Chief Sustainability Officer and they acknowledged the opportunity, mentioning their partnership with WWF for Colombian forest management1. We requested more detail on progress but at the time, focus shifted away from the topic.
Actions:
After a previous unsuccessful attempt to initiate a collaboration, we took the opportunity to support a Biodiversity Campaign arranged through our involvement in Shareholders for Change2 network.
We have since contributed to the letter sent to Smurfit Kappa as part of this campaign.
Outcomes:
M3 - Company develops or commits to developing an appropriate policy or strategy to manage the issue
The company responded, highlighting ongoing biodiversity management efforts, including double materiality assessments and related KPIs tied to compensation and funding costs. Importantly, the company has a focus not just on how to limit negative impacts on biodiversity from their operations, but as importantly, on what the company can do to regenerate biodiversity and whether efforts to date have been successful. Latest updates are available in the companyâs 2022 Sustainability report3.
Important information
Foresight Group LLP does not offer legal, tax, financial or investment advice and the information on this website should not be construed as such. We recommend investors seek advice from a regulated financial adviser. The opportunity described in this document may not be suitable for all investors. Any such investment decision should be made only on the basis of the Fund scheme documents and appropriate professional advice.
Foresight Group LLP acts as investment manager and is authorised and regulated by the Financial Conduct Authority with Firm Reference Number 198020 and has its registered office at The Shard, 32 London Bridge Street, London SE1 9SG.
OEICs
An investment in FP Sustainable Future Themes Fund, FP Foresight Global Real Infrastructure Fund, FP Sustainable Real Estate Securities Fund, FP UK Infrastructure Income Fund or FP WHEB Sustainability Impact Fund and Liontrust Diversified Real Assets Fund (together the âFundsâ) should be considered a long-term investment that may be higher risk. Portfolio holdings are subject to change without notice.
The Authorised Corporate Directors FundRock Partners Limited (registered office at Hamilton Centre, Rodney Way, Chelmsford, England, CM1 3BY) and Liontrust Investment Partners LLP (registered office 2 Savoy Court, London WC2R 0EZ), are authorised and regulated by the Financial Conduct Authority with Firm Reference Numbers 469278 and 518552 respectively. The Funds are incorporated in England and Wales.
ICAVs
An investment in the WHEB Sustainable Impact Fund and the WHEB Environmental Impact Fund (together the âFundsâ) should be considered a longer-term investment that may be higher risk. Portfolio holdings are subject to change without notice.
The Manager of the Funds is FundRock Management Company S.A., authorised and regulated by the Luxembourg regulator to act as UCITS management company and has its registered office at Airport Center Building, 5, Heienhaff, L-1736 Senningerberg, Luxembourg.
We respect your privacy and are committed to protecting your personal data. If you would like to find out more about the measures, we take in processing your personal information, please refer to our privacy policy, which can be found at http://www.foresight.group/privacy-policy.