The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges. For the first time in 2019, organisations were ranked directly against their peers across ten industry lists.
Pact Group ranked second on the Manufacturing & Consumer Goods list, from over 800 nominated organisations across Australia and New Zealand. The assessment measures a top innovation implemented in the past twelve months. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that the innovation has had. Inventium also assesses internal elements such as innovation culture, strategy, resources and process, which demonstrate a sustainable and repeatable approach to innovation.
In Australia, there are approx. 70,000 tonnes of bailed post-consumer milk bottles per annum destined for landfill. Pact’s 2019 nomination was for designing and manufacturing a household mobile garbage bin (wheelie bin) made from 60% recycled milk bottles. Each bin is made using up to 4.8kg of recycled milk bottle plastic, or 250 milk bottles—the average number every Australian household consumes each year.
Pact Group Chairman, Raphael Geminder said “We are absolutely thrilled to have made the AFR Boss Most Innovative Companies List for the seventh consecutive year and be one of only three companies to do so. Of the seven years we made the list, five of our winning nominations have been for our innovative sustainability initiatives that increase the circularity of plastic material.
“Sustainability lies at the heart of pact Group’s vision, – to enrich lives everyday through sustainable packaging solutions. In many industries going around in circles is problematic but in packaging manufacturing, its exactly what we need to do”.
Pact’s nomination forms part of the Group’s End of Waste strategy to create large sinkholes for recycled content into innovative solutions such as mobile garbage bins, telecommunication pits, freeway noisewalls walls, slip sheets and underground cable covers that create a true circular economy for packaging waste.
Pact’s End of Waste Strategy encompass three aspirational targets:
• By 2025 Pact Group will eliminate all non-recyclable packaging that it produces
• By 2025 Pact Group will have solutions to reduce, reuse and recycle all single use secondary packaging in supermarkets
• By 2025 Pact Group will offer 30 per cent recycled content across its packaging portfolio