Starting in 2023, we will replace some non-biodegradable materials used in packaging activities with recycled paper packaging materials. The non-biodegradable materials identified include polyethylene (“PE”) foam and foam peanuts. We will replace them using our own-developed recycled paper packaging materials, known as Honeycomb Paper Wrapper.
We will gather all waste paper carton boxes on ViTrox Campus 2.0, shred and convert them into Honeycomb Paper Wrapper. The Honeycomb Paper Wrapper provides a sustainable and cost-effective solution to bubble wrap, allows a flexible packing process, neatly wrapping and cushioning shaped products and ensures fragile products are protected. This recycling initiative will reduce paper waste, save our planted trees, increase energy savings and reduce our carbon footprint. During the process, we will also recycle buffer materials, pallets and boxes.
We will replace the PE form and foam peanuts with Honeycomb Paper Wrapper gradually. We set a target to reduce the usage of these materials by at least 30% in 2023 and increase incrementally by 10% every year, reaching 100% by the year 2030. Ten percent (10%) replacement on a year-on-year basis would provide us with some assurance that parts wrapped using Honeycomb Paper Wrapper would reach customers in good condition during shipment.
By taking these initiatives, we would expect to save approximately 330 tonnes of waste paper from 2023 to 2030, which is equivalent to avoiding 753tCO2 emissions. We will replace non-biodegradable materials and set a goal to replace them 100% by 2030.
