Less Waste and a Reduction of Carbon and Plastic Impact Driving Retail and Consumer Demand.
Edible Garden AG Incorporated (Nasdaq:EDBL, EDBLW), provided updates on their Zero-Waste Inspried® ESG/ Sustainability mandate.
Mr. Jim Kras, Chief Executive Officer of Edible Garden, commented on a recent press release, “We are both pleased and proud to announce the positive impact of our Zero-Waste Inspired® ESG/Sustainability mandate. As part of our involvement with Walmart Project Gigaton™, an initiative with a goal of eliminating one billion metric tons, or one gigaton, of CO2 emissions from global value chains by 2030, it is estimated that in 2021, we will contribute to the effort by saving 21,000 gallons of gasoline, recycling 38,000 tons of cardboard, conserving 500,000 barrels of oil, and avoiding 442 tons of CO2 emissions. A sustainability survey conducted by Thepacker.com, the fresh fruit and vegetable industry’s leading source for news, information, and analysis, provides further evidence of the importance of sustainable products to consumers. More than half of consumers surveyed were more likely to buy products labeled as “climate-smart,” 54% prefer recyclable packaging, and 25% indicated that they only buy from brands that can demonstrate how the brand addresses climate change. Attributes rated highly by consumers regarding the impact on the sustainability of the food they bought were recyclable packaging, 57%, low carbon footprint, 50%, and urban and vertical farming, 41%. These results demonstrate why our ESG/sustainability approach has resonated extremely well with both retailers and consumers who care about the environmental impact of the food supply chain, which we expect will help Edible Garden expand our distribution channels and drive demand for our products.”
“Our Zero-Waste Inspired® approach is integral in everything we do. Innovative recyclable packaging minimizes the use of plastics and has successfully reduced waste and shrinkage at our supermarket customers by increasing the shelf life of our products, thereby reducing spoilage. For example, using our packaging technologies, cilantro maintains its quality for up to 11 days, or more than 50% longer than seven days with conventional packaging. In fact, this technology has led to a significant decline in product shrinkage among retailers. Our hydro basil, packaged in a recyclable and biodegradable pot, increasingly available in major supermarket chains in the northeast, is a perfect example of our approach and goal of reducing plastic consumption. We plan to expand this program across more of our SKUs and with more of our retail partners as we move forward.”