Greiner submits its sustainability targets to the global Science-Based Targets Initiative, places a promissory note loan of €172M, with an interest rate tied to sustainability performance, and adds Manfred Stanek to newly created role of COO

Sample article from our Packaging Industry

January 19, 2023 (press release) –

The Austrian plastics and foam company Greiner expects to operate in a hugely challenging environment in 2023. “We face a difficult year due to the energy crisis, inflation, and fluctuations in the prices of raw materials,” said Axel Kühner, CEO of Greiner AG. The challenges affect all divisions: Greiner Packaging, Greiner Bio-One, and the foam division NEVEON.

Yet Greiner does not intend to abandon its sustainability strategy. On the contrary: “We can only achieve long-term success if we remain committed to the circular economy and reducing emissions,” Kühner added. With this in mind, Greiner has submitted its sustainability targets to the global Science-Based Targets Initiative. In these, the company voluntarily pledges to meet science-based goals that are needed to keep global warming below 1.5 degrees Celsius. “Even though it won’t be easy, we are keen to fulfill our responsibility as a global player in the plastics industry,” said Kühner.

Promissory note loan tied to sustainability performance 

“Inflation, energy prices, and staff costs are putting us under increasing pressure. However, passing on our costs is only possible to a limited extent, as we have concluded long-term price agreements with many customers. Therefore, efficiency enhancements are the order of the day. In addition, we believe that only sustainable companies will have a profitable future. For this reason, sustainability has also arrived in financing at Greiner: For the first time in the company’s history, we have placed a promissory note loan of EUR 172 million, with an interest rate tied to our sustainability performance,” explained Hannes Moser, CFO of Greiner AG.

Synergies set to accelerate the sustainable transformation process

To be better equipped for the challenges ahead, Greiner AG has added Manfred Stanek to its Executive Board in 2023. In the newly created role of Chief Operating Officer (COO), Stanek, previously CEO of the division company Greiner Packaging, is in charge of synergy management for the entire Group and performance management between the three divisions as well as strategic purchasing and IT management. “The current challenges call for comprehensive performance management between the division companies in order to create long-term synergies and successfully continue Greiner’s sustainable transformation process,” said Manfred Stanek, COO of Greiner AG.  

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Jason Irving
Jason Irving
- SVP Enterprise Solutions -

We offer built-to-order packaging industry coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

This website stores cookies on your computer. These cookies are used to improve your website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy. We won't track your information when you visit our site. But in order to comply with your preferences, we'll have to use just one tiny cookie so that you're not asked to make this choice again.