CENTURY Pacific Food, Inc. (CNPF) has secured plastic-neutral certifications from global nonprofit organization Plastic Credit Exchange (PCX) for all of its brands that use flexible and plastic packaging.
CNPF said in a stock exchange disclosure on Monday that brands such as Angel Coffee Creamer, Argentina, Coco Mama, Century Quality Bangus, Fresca Tuna, Hunt’s, Home Pride, Swift, Wow, unMeat, and Birch Tree have been certified as plastic-neutral by PCX.
The plastic-neutral certifications from PCX signify that the CNPF brands fully comply with the requirements of the Plastic Pollution Reduction Standard, a framework for the operation of a verifiable plastic offsetting program.
“This means that all these brands have successfully offset their plastic footprint from July 1, 2019 to June 30, 2020 by recovering an equivalent amount of plastic waste away from leaking into nature and ensuring it is processed safely into the circular economy through PCX,” CNPF said in the disclosure.
PCX extends an integrated plastic-offset platform and supports its partner organizations in finding solutions for the responsible monitoring of recycling and recovering plastic waste.
CNPF Chief Operating Officer Gregory H. Banzon said lowering the company’s impact and taking care of the environment are key parts of its sustainability program.
“For years, we have been building brands that provide affordable nutrition to our consumers. Now, they can rest assured that all their favorite CNPF products are working towards becoming more and more environmentally friendly as well,” Mr. Banzon said.
“We are fully committed to our plastic neutrality initiatives because we firmly believe that it is only right and proper for our business, our planet, our people, and the communities we serve,” he added.
CNPF posted a 24% year-on-year increase in its net income for the first quarter to P1.28 billion due to the re-opening of foreign markets that boosted its export business. Revenues of the firm during the quarter climbed 11% to P13.39 billion.
On Monday, shares of CNPF at the stock exchange rose 3.24% or 75 centavos to finish at P23.90 apiece. — Revin Mikhael D. Ochave
