In the aftermath of last year’s failed merger of two major publication printers, Quad/Graphics and LSC Communications—a deal that was abandoned after it was challenged by the Department of Justice on anti-trust grounds—both companies were vocal in their opinion that the DOJ’s stance was based on an outdated perception of the printing industry. While each was undoubtedly the other’s largest competitor in magazine, catalog and retail insert printing, Quad and LSC argued that the real competition was in digital media—clients opting to disseminate their publications and marketing materials online rather than in print—and that these same clients would’ve stood to benefit from the increased efficiencies generated by the merger. The DOJ disagreed, arguing that Quad and LSC’s printing and distribution resources constituted the “only realistic options” for many publishers and that eliminating competition between the two would “likely increase the price and reduce the availability of products from popular magazines to grade school textbooks.”
TC Transcontinental (TSX: TCL.A TCL.B) is proud to be named once again as one of Canada’s 50 best corporate citizens, placed in 10th position in the renowned Corporate Knights’ 2020 Best 50 Ranking. According to Corporate Knights, TC Transcontinental ranks among the Top 10, overall thanks namely to its high clean revenue score, strong gender diversity at the board and executive levels, its solid safety record, as well as its strong energy and water productivity.
“We are very proud to be in Corporate Knights’ prestigious Top Ten ranking for the second year in a row” said François Olivier, President and Chief Executive Officer of TC Transcontinental. “This announcement comes at a time where the pandemic that hits our world reminds us more than ever, of the importance for all stakeholders across the value chain to act together to carry out responsible business strategies. Our Corporation continues to be deeply committed in demonstrating how our business practices can have a positive economic, social and environmental impact on both people and planet for generations to come.”
Today’s announcement of TC Transcontinental’s tenth position in Corporate Knights’ ranking coincides with the release of its 2019 corporate social responsibility progress report. Since last year, TC Transcontinental’s teams have been involved in major projects around the 11 key objectives of its 2019-2021 Corporate social responsibility plan Acting Together in four main areas: our employees, our operations, our products and our communities. “The reported results are extremely encouraging, and we are proud of the progress achieved by our teams. Thanks to our robust strategy and its efficient execution by our employees, we have improved our performance in the areas of health and safety, talent development and gender diversity. We are also pursuing our efforts to reduce the carbon footprint of our manufacturing operations and we have made great strides in our sustainable products’ portfolio, thanks to our R & D investments,” adds François Olivier.
“At TC Transcontinental, corporate social responsibility is fully embedded in our strategy and guides our business decisions and actions. We measure our performance annually and share results in our sustainability report, a document we have proudly published since 2010,” explains Magali Depras, Chief Strategy Officer of TC Transcontinental.
This year, the Corporation even took a step further to cement its commitment as a responsible corporate citizen. Last month, TC Transcontinental joined the United Nations Global Compact, a voluntary initiative through which signatory companies commit to aligning their approach to social responsibility with the universal principles of human rights, labour standards and environmental protection. “The Corporation’s targets of its three-year Acting Together plan and the policies referred to in its report are directly aligned with seven sustainable development goals defined by the Global Compact. TC Transcontinental’s endorsement of the United Nations’ objectives further confirms our commitment to being a leader in social responsibility and its seamless integration into all our activities and our corporate culture,” explains Magali Depras.
Today, through meaningful actions and a collaborative approach involving all stakeholders, the Corporation intends to lead the way and accelerate the creation of a circular economy for plastic, a model where plastic is better managed from sourcing to end-of-life. In 2019, TC Transcontinental was the first Canadian manufacturer to join the Ellen MacArthur Foundation’s New Plastics Economy Global Commitment. Setting out to build on its experience of being a key player in the creation of a circular economy for paper in Canada, TC Transcontinental also announced in early 2020 the creation of a new Recycling group within TC Transcontinental Packaging, marking yet another step towards the implementation of a circular economy strategy that supports the fulfillment of the Corporation’s objective as a signatory of the Ellen MacArthur Foundation’s Global Commitment. More recently, the Recycling Group announced the acquisition of the assets of Enviroplast inc., a company dedicated to the recycling of flexible plastics in Quebec. The equipment acquired will be used to transform flexible plastics recovered from sorting facilities and other commercial, industrial and agricultural sources into recycled plastic granules.
Corporate Knights is a specialized media and research firm. Its annual ranking of corporate sustainability performance is based on key citizenship indicators such as resource, employee, financial management, clean revenue and supplier performance.