Ardagh Metal Packaging (AMP) has achieved 70% recycled content in its aluminium beverage cans and significantly reduced GHG emissions with investments supported by its latest green bond. 

This is the second time the canmaker has secured financing to advance its green projects through the sustainable securities markets. 

AMP received net proceeds from the bond of US$590.2 million in June 2022. Most of this (US$568.5m) has been used for eco-efficient- and/or circular economy-adapted products, production technologies and processes.

By leveraging data from energy audits across its North American and European canmaking plants, AMP identified outdated equipment such as vacuum pumps and air compressors, and replaced these with more energy-efficient models. At its beverage can plant at Fairfield in California alone, AMP says it has achieved a 3% reduction in greenhouse gas (GHG) emissions.

A further $10.7 million was spent on renewable energy, while $5.2 million was invested in energy efficiency. Another focus for AMP has been on optimising the efficiency of its production processes – in particular increasing global recycling rates by partnering with suppliers, customers and local stakeholders. 

By using aluminium coil with higher recycled content, AMP says it is able to eliminate up to 95% of energy and associated GHG emissions. The canmaker increased recycled content in its aluminium beverage cans to 70% in 2021, up from 62% in 2020, further reducing its scope 3 emissions. 

AMP says it is also continuously working on lightweighting its products. 

“Green Bond issuance enables AMP to maximise the company’s sustainable impact supported by the inherent sustainable characteristics of the aluminium beverage can,” said Oliver Graham, chief executive of AMP. “By aligning our financial strategy with our sustainability strategy, we strengthen our position for a circular economy.”

Last year, Ardagh Group was awarded the highest sustainability ranking by corporate social responsibility ratings company EcoVadis.