Vidrala partners with HSBC UK to green-up finances
Leading glass container manufacturer, Vidrala, has chosen to invest in HSBC UK’s Green Deposits scheme as part of the Spanish-based company’s ongoing commitment to support the fight against climate change. The project will be set up by HSBC UK to use funds from Encirc, a Northern Ireland-based subsidiary of Vidrala.
Following a successful long-standing relationship between Vidrala and HSBC UK, the company will invest an initial sum of £5 million into the HSBC Green Deposits scheme, with the interest being used to finance environmentally progressive projects such as those focused on renewable energy, energy efficiency, pollution control, and biodiversity conservation.
As one of the world’s most sustainable packaging manufacturers, Encirc has led the way in responsible operations for more than 15 years, with more than 80% of its customers regularly citing its credentials in this area as a key benefit for them. The decision to invest in the Green Deposits scheme signals the continued commitment to sustainability by both the Vidrala Group and Encirc.
Rory Clarke, Relationship Director at HSBC NI, commented: “HSBC is committed to supporting businesses develop and grow their sustainability ethos. The HSBC Green Deposits scheme aligns to Encirc’s climate strategy and we look forward to seeing how this investment allows various green projects to benefit in the future.”
Fiacre O’Donnell, Director of Sustainability at Vidrala, said: “We pride ourselves on placing sustainability at the heart of our operations. As a business, we understand that we have a responsibility to invest in a greener future, which is why we are always looking to go the extra mile and find new ways to have a positive impact on the planet.”
“We are delighted that our investments in HSBC’s Green Deposits scheme will allow us to support environmental projects that aren’t directly related to our industry while we continue to throw our support behind boosting sustainability in our own sector.”
As part of the Green Deposits account, Encirc will receive a quarterly, portfolio-level review of how its funds have been distributed across different sustainable projects.
Vidrala is a consumer packaging company. We make glass containers for food and beverages products and offer a wide range of packaging services that include logistic solutions and beverages filling activities. Our industrial knowledge, growing geographical presence, glass manufacturing expertise, level of service and understanding of customers’ processes make us a business partner for many of the main food and beverages brands. Our products and our services contribute to maintain our customers’ reputation and values and play a role in their strategies, helping to develop their consumers’ brand experiences.
Encirc, part of the Vidrala Group, is a market leader in glass container design, manufacturing, bottling and logistics solutions for the UK, Irish and European food and beverages industries. With over 1,500 employees, it operates from its three purpose-built sites in Derrylin, Co Fermanagh, Elton, Cheshire and Corsico, Italy, the company produces around 4 billion glass bottles and other containers annually, and can fill up to 250 million litres of bulk shipped beverages every year. The integrated group offering means customers benefit from a unique supply chain approach, which includes access to Europe’s largest bonded warehouse, significantly shortening the supply chain and delivering considerable cost and environmental savings to customers.