International Paper, the world's largest pulp and paper company, is set to acquire a British firm that specializes in sustainable packaging.
Georgia Public Broadcasting reported that the Memphis-based paper giant has made a $7 billion deal with London-based DS Smith. If approved by antitrust regulators in the European Union, the acquisition would give International Paper access to DS Smith's European presence as well as its growing portfolio of eco-friendly products, the publication explained.
For instance, DS Smith's "fish boxes" are essentially moisture-resistant cardboard boxes that can be used in lieu of Styrofoam storage containers. Another product is a spin on soft drink packaging rings. Normally, these are made of plastic and threaten marine wildlife, but DS Smith's version is recyclable and made of corrugated paper.
Plastic-free packaging innovations such as these are a win for public health. For instance, exposure to Styrofoam has been linked to genetic damage to white blood cells and to certain blood cancers, according to UCLA Health. The department explains that Styrofoam is considered safe for food use in its solid state, but heating it — say, in a microwave — can cause chemicals to leach from the foam into the food.
Plus, eco-friendly packaging can help reduce our dependence on dirty fuels, which contribute to dangerous air pollution and rising global temperatures. For example, Styrofoam is made from crude oil, one of the "big three" fuel sources that together are responsible for more than 75% of all planet-heating pollution, according to the United Nations. Eliminating our dependence on these dirty fuels can help protect us from dangers like floods and hurricanes, which are set to become more frequent and severe as our planet warms.
Styrofoam and other plastics also contribute to land and water pollution. According to Environment America, Styrofoam "takes hundreds of years to decompose, if it decomposes at all." As it breaks down in the environment, it puts animals and people in danger, the organization adds.
And microplastics have become pervasive across the globe, endangering wildlife, food systems, and human health. For instance, one study found that microplastics in the soil can hinder plant growth by blocking plants from gathering important nutrients.
Meanwhile, a number of plastic alternatives are emerging, including materials made of recycled seaweed and fungus. Scientists are even discovering new ways to remove plastics from our environment. For example, hungry wax worms and fungi can help "eat" plastic, while egg whites can remove microplastics from water.
As for the pending acquisition of DS Smith, "The combination with IP is an attractive opportunity to create a truly international sustainable packaging solutions leader that is well positioned in attractive and growing markets across Europe and North America," Miles Roberts, CEO of DS Smith, said in a joint press release, suggesting that the acquisition could allow for a wider production and distribution of DS Smith's sustainable packaging solutions.
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Andrew K. Silvernail, CEO-elect of IP, added, "Bringing together the capabilities and expertise of both companies will create a winning position in renewable packaging across Europe, while also enhancing IP's North American business."
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