Sustainability has been a buzzword for some time, although not every company or person has embraced it.
Some molders, though, say that business owners may be forced to take it seriously, and they have data to back up their claims. An increasing number of customers and OEMs want to know more about their suppliers' environmental responsibility, social impact and corporate governance, or ESG.
"It will affect you at some point in time," Jeff Ignatowski, president of Champion Plastics, said during a panel discussion about the future of molding during the Injection Molding and Design Expo last month. "Someone will want to know your ESG score possibly for lending or from an acquisition standpoint."
PN's Catherine Kavanaugh writes that during a wide-ranging panel discussion, molders said companies that had no questions about sustainability three years ago are now asking for details. But — and I'm sure this isn't a surprise to many of you — those same customers aren't necessarily willing to pay more for greener parts.
"Our customers are very, very concerned about sustainability, but they are very, very unwilling to pay for it or to change their design, so everything is virgin material," said Medbio President Chuck Lee, adding that the company also must meet strict material guidelines for health care products.
Investments in automation, workforce retention and material deselection also came up during the discussion. Find the full story here.