ACCOUNTABLE
BY DESIGN
2024 CORPORATE SUSTAINABILITY REPORT
Letter from Chairman & Chief Executive Officer Richard G. Verney
Dear Friends,
Last year was one defined by meaningful progress, the kind that comes from staying focused on what matters most. Across the company we saw the impact of that focus, from advancing our fiber-based solutions to improving how we use and manage resources. Values-driven work continues to shape our approach to moving forward.
One meaningful measure of our progress last year came in the form of a Platinum rating from EcoVadis, placing Monadnock Paper Mills, Inc. among the top one percent of companies assessed worldwide. This honor was the result of the systems we’ve built to ensure our values are consistently put into practice.
In 2024, that meant continued reductions in greenhouse gas emissions, improved water and waste management, ongoing investment in employee training and ethical practices. It also took shape in new offerings like our fiber-based gift card, Renovo, and Stello, the perfect-white substrate designed for the fine stationery and invitation market. These innovations align with our commitment to crafting sustainable solutions that reflect how people give, connect, and communicate today.
At Monadnock, sustainability isn’t an add-on. It’s built into everything we do, from environmental practices to labor policies, from hydroelectric power to post-consumer waste material. Every action is part of a larger framework designed for transparency and accountability, and it’s that structure that keeps us moving forward with purpose.
A heartfelt thank you to our employees, customers, and partners for your unwavering commitment to meaningful action. Your shared dedication makes it all possible.
Sincerely,
Richard G. Verney, Chairman and CEO
Monadnock is in the top
1%
of companies evaluated worldwide by EcoVadis
About Monadnock Paper Mills, Inc.
Founded in 1819, Monadnock Paper Mills is the oldest continuously operating paper mill in the United States. As an independent, family-owned company based in Bennington, New Hampshire, we serve global brands in the printing, packaging, and specialty technical markets with fiber-based materials designed to meet the rigorous standards of quality and sustainability.
Our mission is grounded in collaboration, deep technical expertise, and an ongoing commitment to the well-being of our employees, communities, and the environment. Sustainability is integrated into the way we work, from responsible sourcing and resource management to the ways we support our employees and local community.
Founded in
1819
Monadnock Paper Mills is the oldest continuously operating paper mill in the United States
All Monadnock products are Forest Stewardship Council® (FSC) certified and manufactured under an ISO 14001-certified Environmental Management System. These third-party standards help ensure our materials and processes meet strict criteria for environmental performance.
With more than two centuries of experience, Monadnock continues to show that accountability is embedded into how we operate. This report reflects the systems, standards, and outcomes that define responsible growth at every level of our business.
Fine Printing: Coated and uncoated papers engineered for high-quality image reproduction and consistent print performance. Crafted with responsibly sourced fiber and FSC-certified, containing up to 100% post-consumer recycled content.
Wide Format: Created for indoor and outdoor signage, point-of-purchase displays, and retail and hospitality advertising. Manufactured as a sustainable alternative to PVC and other single-use plastics.
Packaging: Performance papers and boards designed for strength, durability, and visual impact in packaging applications that require structural integrity. Made with FSC-certified fiber and up to 100% post-consumer recycled fiber, including alternative fibers like hemp and cotton.
Technical: Specialized substrates designed for various applications, including medical packaging and diagnostic papers, archival papers and boards, and other uses requiring precision and accuracy.
Custom Solutions: Custom-engineered paper solutions for brands and converters with unique performance or sustainability requirements.
Third-Party Certification & Verification
Monadnock’s sustainability performance is validated through third-party certifications and verifications that reflect our values and our responsibility to the communities, industries, and environment we serve.
ISO 9001: Monadnock strictly adheres to the requirements ISO 9001 Quality Management System, maintaining consistency in product quality and process control.
FSC® C018866: All products are certified by the Forest Stewardship Council®, ensuring materials are sourced from responsibly managed forests.
ISO 14001: Monadnock is certified to the ISO 14001 Environmental Management System, which provides a framework for identifying, monitoring, and reducing environmental impact.
Green-e®: Forest Stewardship Council® Certified, produced under an ISO 14001 Environmental Management System, manufactured carbon neutral (VERs) and manufactured using 100% renewable, Green-e® certified wind energy (RECs)
Carbon Neutral Manufacturing: Monadnock offsets carbon emissions through third-party verified emission reductions (VERs), certified under the GHG Clean Projects Protocol, supporting carbon neutrality across manufacturing processes.
EcoVadis Platinum Rating: Monadnock received a Platinum rating from EcoVadis, placing it among the top 1% of over 90,000 companies assessed globally across categories including Environment, Labor & Human Rights, Ethics, and Sustainable Procurement.
Mastercard Card Eco-Certification (CEC): Monadnock was the first paper mill to achieve this certification for Envi Card Stock 28 pt and Envi Paper Card 30 pt, made from Virgin and 100% Post-Consumer Waste (PCW) content. The certification evaluates sourcing, production, and end-of-life considerations.
EPA SmartWay Transportation Partner: To help reduce our carbon footprint associated with transportation of our products, Monadnock partners with the Environmental Protection Agency (EPA) through the SmartWay Program, a globally recognized system for benchmarking and reporting freight emissions across supply chains.
Monadnock’s Forest Stewardship Council® Certified products are manufactured using
100%
renewable, Green-e® certified wind energy (RECs)
Partnerships
Monadnock’s involvement in these organizations supports our commitment to responsible growth, transparency, and alignment with evolving industry standards.
Sustainable Green Printing Partnership (SGP): Monadnock is a Platinum Patron of SGP, which promotes measurable improvements in sustainability within the printing and packaging industries.
New Hampshire Businesses for Social Responsibility (NHBSR): Advocates for sustainable business practices that positively impact communities and the environment.
Printing Industries of New England (PINE): Supports innovation and excellence in the New England printing and graphic communications industry.
The Retail Gift Card Association (RGCA): Promotes best practices and innovation in the closed-loop gift card industry.
Digital Solutions Cooperative (DSCOOP): Fosters collaboration and knowledge-sharing among digital printing and graphic arts professionals.
EcoVadis: Provides a global standard for assessing and improving sustainability practices across business operations and supply chains. Monadnock aligns with these standards, including the UN Global Reporting Initiative (GRI), to effectively report across Scopes 1 and 2, among other environmental initiatives.
Forest Stewardship Council® (FSC®): Ensures the responsible use of forest resources that are managed to meet the social, economic and ecological needs of present and future generations.
Canopy Planet: Protects ancient and endangered forests while promoting circular, climate-friendly alternatives in the paper supply chain.
HP Indigo: Empowers print and packaging brands to meet their sustainability goals through efficient operations, circular design, and partnership.
Material ConneXion (MCX): Assists brands in identifying sustainable alternatives and recommends materials that enhance performance and aesthetic while reducing environmental impact.
Two Sides: Promotes the responsible environmental practices utilized throughout the Paper, Print, Graphic Communications, and Paper-based Packaging industries accomplished through research, outreach, advocacy, and community building.
Collaboration with like-minded organizations reflects Monadnock’s belief that purpose-aligned partnerships are essential to meaningful progress, strengthening accountability, broadening our network, and advancing our commitment to sustainability.
Environmental Policy
Monadnock’s approach to environmental responsibility is guided by a formal Environmental Policy, which sets clear benchmarks across every level of the organization, from process improvement and product development to employee engagement.
10,409
tons CO2 emissions offset using Verified Emission
See Environmental Metric Chart
Transparency is essential to building trust and accountability in our sustainability efforts. Monadnock’s Environmental Policy undergoes an annual review process with internal stakeholders as well as third-party agencies, serving as a framework for ongoing accountability and continuous improvement. View the full Monadnock Environmental Policy at www.mpm.com/sustainability.
Aligned with ISO 14001 standards, EcoVadis—the global standard for measuring organizational sustainability–provides a framework for us to monitor performance, maintain accountability, and aligns our efforts within the broader ESG framework, including Scopes 1 and 2.
Our environmental policy focuses on measurable outcomes, continuous improvement, and innovation to inform decisions across departments, reinforcing sustainability as a core operational priority.
Monadnock’s Environmental Policy outlines key areas of environmental responsibility, each supported by measurable targets and routine evaluation. Key components of our Environmental Policy include:
Energy & Greenhouse Gas Emissions Monadnock prioritizes energy efficiency and greenhouse gas reduction through annual emissions inventories, operational audits, and targeted energy-saving initiatives. We offset a portion of our emissions through the purchase of Renewable Energy Credits (RECs) and Verified Emissions Reductions (VERs).
Air Pollution Air quality is monitored and managed through operational controls, with investments in technologies that reduce air pollutants.
Water Monadnock tracks water use and discharge quality across operations. Our hydropower facility, the 1.9 MW Monadnock Project, supports local ecosystem health and offsets conventional energy use.
Materials & Waste Monadnock minimizes waste generation by mapping waste streams, optimizing production processes, and choosing low-impact materials during product development.
Hazardous Materials Monadnock implements a formal Hazard Communication Program to identify and manage risks related to hazardous materials in processes and products.
Biodiversity Operational controls are in place to prevent waste from entering waterways and damaging local habitats.
Employee Training All employees receive annual training on our Environmental Policy and practices, with ongoing communication to ensure awareness and compliance.
25%
reduction in non-hazardous waste sent to landfill
See Environmental Metric Chart
ISO 14001 Objectives
12
million gallons
water saved through efficiency upgrades
Monadnock strengthens its commitment to environmental stewardship through targeted annual improvements guided by our ISO 14001 Environmental Management System. Each initiative reflects a structured, accountable approach to sustainability, focused on measurable outcomes and continuous improvement.
Electricity: The conversion of two v-belt drives improved motor efficiency by approximately 5 percent and more than doubled drive belt life. This targeted upgrade resulted in an energy savings of 20,000 kWh over the year.
Waste Reduction: Diverted 98 percent of total waste from landfill through recycling efforts. Additional paper stock loss reduction projects, including the installation of alarmed stock dump valves and the recovery of cleaner system rejects for select product grades, are estimated to reduce annual stock losses by 1 to 2 percent.
Water Consumption: Key improvements included automated temperature controls, whitewater system balance and control on #1PM, and the addition of valve position indicators and alarms on various water and paper stock valves. These efforts collectively reduced annual water use by approximately 12 million gallons.
Oil Consumption: Replacing nine steam traps resulted in an energy savings of approximately 1,000 million BTUs.
Hydropower: Monadnock owns and operates a 1.9 megawatt hydroelectric facility on the Contoocook River. Depending on annual precipitation and river flow, this system can generate up to 50 percent of the electricity used in our manufacturing operations.
Recycled Fiber: Used 2,867 tons of post-consumer recycled pulp across our product lines, a 25 percent increase from last year.
Metrics
Monadnock tracks key environmental performance indicators to evaluate where we’re making progress and where continued focus is needed. This data-driven approach ensures that our sustainability efforts are not only intentional but verifiable
98%
of total waste diverted from
landfill through recycling
Monadnock Paper Mills is acutely aware of current local water resources, limitations, and availability. We closely measure, monitor, and report all mill freshwater usage to comply with use reporting requirements and to collect data used to verify progress on perennial impact-reduction projects. All freshwater use and water discharges are monitored and reported to the state Department of Environmental Services. We set and track annual goals and metrics for water use in gallons per unit of production, with our Green Team identifying and directing water-reduction projects. These include recycling heat-exchanger water, using smaller freshwater shower nozzles on paper machines, substituting recycled “whitewater” in place of freshwater in non-critical applications, and minimizing overflow or backwash to the sewer. Collectively, these efforts have lowered freshwater usage by 30% over the past 25 years.
In 2024, further reductions in water use and oil consumption were achieved through targeted conservation projects. Expanded recycling initiatives and production efficiencies reduced the amount of waste sent to landfills while increasing overall material recovery. As demand for sustainable products increased, we observed a notable rise in the use of post-consumer recycled fiber across our portfolio.
The chart reflects a year of focused, accountable progress—one where improvements resulted from purposeful action at every level of our organization.
Un-Plastic Timeline
1997: Ultraform® Backlit Poster Monadnock introduced Ultraform® as a fiber-based alternative to PVC and Styrene for backlit signage in retail and hospitality. This marked the company’s early initiative in reducing the use single use plastics by providing a paper alternative.
2008: Duraprint® Duraprint® (now rebranded as Durapak) was developed with pliable wood fiber, providing a premium sustainable alternative to film lamination for box top sheets.
2010: Envi Wallgraphics and Horticultural Tags Envi Wallgraphics provided a renewable-fiber option for digitally printed wallcoverings. In the same year, Monadnock developed a durable tag for the horticulture sector, designed to replace High Impact Polystyrene (HIPS) and PVC in plant tags and wraps. Options included Kona®, an alternative fiber made with reclaimed coffee bean bags, and Ecokraft®, made with 100% post-consumer waste.
2011: Envi Card Monadnock introduced Envi Card as a wood-fiber substitute for PVC and PLA gift cards. Third-party tested for curbside recyclability, it offered a non-plastic solution that met performance and aesthetic needs.
2015: Shelf Channel Merchandising In partnership with a sustainability-focused grocery chain, Monadnock developed a durable paper alternative for in-store pricing displays.
5%
year-over-year rise in recycled wood content
2019: Alternative Fiber Expansion Monadnock launched its first coated 100% recycled fine printing paper with Astrolite PC 100® Velvet. Designed to support print-on-demand applications, this substrate is 3-star certified to run on HP Indigo presses.
2019: Envi Performance Board Also in 2019, Monadnock expanded its packaging portfolio with two FSC®-certified substrates: Envi PC 100 Performance Board, made with 100% post-consumer waste, and Hemp Envi Performance Board, made from 30% hemp and 70% post-consumer waste. Both substrates are FSC®-certified, crafted in the US, and designed for high performance and durability.
2020: ENVIsual® ENVIsual® launched as a recyclable alternative to PVC and styrene for retail and hospitality signage. Available in 100% PCW content, it is recyclable in standard curbside mixed paper streams and is available in 100% post consumer recycled content.
2022: PCW Bag Closures Monadnock worked with a global brand to develop a 100% post-consumer waste recycled paper bag closure as a replacement for plastic ties.
2023: Envi PC 100 Card Envi PC 100 Card, made entirely from PCW fiber, was launched as an alternative to plastic and PVC gift cards, delivering the same high performance and customizability across card carriers and configurations.
2023: Wide Format Monadnock expanded its Wide Format product line to include sustainable substrates for retail signage. Ultrahide® PC 100 Blockout Poster was designed for indoor use and provides complete opacity. It is Prop 65 compliant, made with 100% PCW recycled fiber and recyclable in the curbside mixed-paper waste bin.
Also engineered for indoor signage, Pavilion™ PC 100 is a bright white, matte-coated stock for applications requiring high-quality image reproduction. This grade is optimized for HP Latex and UV Inkjet printing.
Boulevard™ Poster was specially developed for both indoor and outdoor retail signage applications. Crafted with FSC® Mix certified fiber, it provides the durability and moisture resistance required for demanding environments.
2024: Renovo Renovo was introduced as a 30-point gift card stock made from 100% post-consumer recycled fiber. Designed to mimic the strength and feel of plastic, its thickness meets the ANSI ISO Testing Protocol 322-2015 for plastic cards.
2024: Stello™ Monadnock added Stello™ to its portfolio of fine printing papers. Its Perfect White shade and premium finishes were meticulously formulated to meet the exacting demands of modern printing applications. Available in both smooth and eggshell textures and a range of weights, Stello is a versatile substrate designed for high-end printed materials like wedding and event invitations, photo books and fine stationery.
Accomplishments
Goal of
50%
of targeted suppliers
EcoVadis-rated
by year-end 2025
See Sustainable Procurement Metric Chart
In 2024, Monadnock was recognized for achievements that reflect accountability in action. Every award, certification, and milestone represents the outcome of measured, deliberate work aligned with our values and verified through third-party audits. These accomplishments are not endpoints, but proof points along a path of continuous improvement and purposeful progress.
EcoVadis Platinum Rating: We achieved a Platinum rating in the latest EcoVadis assessment, placing us among the top 1% of over 90,000 companies evaluated worldwide. This milestone validates our focused efforts to strengthen key areas of our sustainability performance. It is a natural outcome of the systems, values, and accountability that guide our daily operations..
Greater Monadnock Collaborative Business of the Year Award: Monadnock was named Business of the Year in recognition of our outstanding contributions in making New Hampshire’s Monadnock region a growing and thriving community.
SCA Pulp Supplier Award: Our leadership in forest stewardship and energy regeneration was recognized by SCA, an organization dedicated to sustainable practices and innovation within the pulp and paper industry.
Health
& Safety
Monadnock maintains a structured safety program designed to integrate health and safety practices into all areas of operation.
Under the guidance of our Safety Committee, led by an appointed Health and Safety Manager, we maintain a comprehensive safety management program that includes:
- Scheduled audits, inspections, and Job Safety Analyses to identify and address potential risks before they become issues
- Regular training sessions to reinforce understanding and consistency across all health and safety policies
- Thorough incident reporting and investigations to determine root causes and prevent future occurrences
- An Ergonomics Program to ensure that workspaces are designed with employee comfort and long-term well-being in mind
- Routine internal and external audits to assess the effectiveness of our safety practices and drive continuous improvement
This commitment to safety reflects our responsibility to protect the people who make our work possible.
Employees logged an average of
5.46 hours
of safety instruction
See Labor and Human Rights Metric Chart
Social Responsibility
Monadnock contributes to the communities where we live and operate through long-standing partnerships, employee engagement, and targeted local initiatives.
Support for Marginalized Communities
Monadnock believes strong communities are rooted in inclusion, purpose, and mutual respect. We are proud to support and partner with organizations that uplift marginalized groups and foster a more equitable society.
Our long-standing relationship with Monadnock Worksource—a nonprofit supporting people with disabilities—helps provide purposeful employment in tasks such as marketing assembly, mail sorting, and document shredding. These individuals are valued members of our extended team and contribute to the strength of our operations.
Beyond the workplace, our employees demonstrate ongoing support through fundraising, event participation, and personal contributions. It’s one of many ways we work to make a lasting, positive impact in the community we call home.
Investing locally: targeting
25%
of annual procurement with
New England businesses by 2025
See Sustainable Procurement Metric Chart
Community-Focused Initiatives
Based in Bennington, New Hampshire, Monadnock maintains deep ties to the region and contributes to local quality of life through employee-led programs and volunteerism. These initiatives reflect how we support our neighbors, not only as a business, but as a team of people who care about where we live and work.
Toys for Tots: Annual toy drives organized by employees to help every child experience the joy and generosity of the holiday season.
Holiday Food Drives: Employee-led donation efforts to help ease food insecurity for families in our region.
Community Suppers: Volunteer-led meals hosted and served by Monadnock to bring residents together and support local outreach
Support for Veterans: Ongoing contributions to our local VFW, including donations and promotion of community fundraising events that provide essential support for veterans and their families.
Clothing Collection Shed: Bin installed outside of mill to collect donations for The Hillsboro Methodist Church.
Labor Relations & Employee Representation
Monadnock maintains a workplace grounded in respect, inclusion, and shared responsibility. Our labor practices reflect a long-standing belief that transparency and collaboration lead to more impactful outcomes for our people, operations, and community.
52%
of our workforce is covered by collective bargaining or elected employee representatives
See Labor & Human Rights Metric Chart
Unions
Monadnock recognizes and supports the rights of employees to organize, engage in collective bargaining, and participate in representative organizations without interference or retaliation. Union partnerships play a meaningful role in fostering open dialogue, strengthening workplace protections, and ensuring that every employee has a voice.
Labor Standards
Our policies reflect our deep respect for human rights and labor standards, including our commitment to preventing involuntary labor, human trafficking, and underage employment. All hiring practices are structured to be ethical, transparent, and compliant with national and international labor standards.
Employee Benefits
Monadnock offers a comprehensive benefits package that is reviewed annually to ensure it meets the evolving needs of our workforce. From health and wellness initiatives to flexible coverage options, our benefits promote a culture of health, safety, and high performance.
Empowering Our People
Monadnock enforces a zero-tolerance policy for harassment and discrimination. We are committed to maintaining a work environment where safety, equity, and professionalism are upheld at every level of our organization.
Labor practices are reviewed regularly and aligned with Monadnock’s operational values of integrity, responsibility, and compliance, ensuring a consistent approach to employee engagement and workplace standards.
Business Code of Ethics
Our commitment to ethical business practices extends across every part of our operation. Through robust policies and oversight, we prioritize transparency and integrity to ensure our standards are reflected in the partners we work with and the systems we rely on every day.
Supply Chain Management
All new supplier relationships begin with a thoughtful and thorough review process. This includes due diligence and risk assessment focused on legal compliance, environmental impact, and social responsibility. Documentation such as codes of conduct, sustainability reports, and third-party verified certifications are evaluated, along with any in-progress certifications that have a clear timeline for completion.
Ongoing supplier performance is monitored through established review mechanisms to ensure continued alignment with Monadnock’s standards and values. This approach supports transparency, accountability, and a supply chain that reflects the integrity of our products and the expectations of our customers.
Information Security
Comprehensive, Modern Security Approach: We integrate advanced IT (Information Technology) and OT (Operational Technology) security through a layered, multi-faceted strategy.
Dedicated Cybersecurity Leadership: Our Cybersecurity Officer continuously monitors evolving threats and emerging technologies to ensure cutting-edge protection.
Proactive Security Management: We follow a structured program to research, implement, maintain, and routinely review all IT and OT security processes and systems.
Ongoing Security Enhancement: We are committed to continuously improving our security posture as an ongoing effort as a core part of our daily operations.
50%
50%
We’re ensuring ethical alignment—already at
50%
supplier sign-on
We’re ensuring ethical alignment—already at
50%
supplier sign-on
Our Culture
At Monadnock, we believe that when our employees thrive, our business thrives as well. Monadnock invests in a wide range of employee-focused initiatives designed to promote well-being and professional development. Our people are the heart of our success, and we are committed to fostering a workplace where every employee feels valued, supported, and inspired to grow.
Wellness and Safety
Our Wellness Committee leads initiatives that promote healthy lifestyles and overall well-being, including our annual Health Fair, which provides resources and screenings to support physical and mental health. Our Safety Committee ensures that our work environment remains safe, proactive, and OSHA-compliant, reinforcing our commitment to the health and security of every team member.
Learning and Growth
We support lifelong learning through our tuition reimbursement program, empowering employees to pursue ongoing education and skill development. Whether it’s advancing in their current role or exploring new opportunities, we believe in unlocking the full potential of our workforce.
women occupy
28%
of senior management positions, excluding the Board of Directors
See Labor & Human Rights Metric Chart
Recognition and Appreciation
We celebrate the dedication and loyalty of our employees through our Years of Service Recognition Program, which honors team members every five years for their contributions. These milestones reflect the deep sense of pride and purpose that defines life at Monadnock.
Community and Collaboration
Our culture is also shaped by employee-led initiatives like our Green Team and Community Action Teams, which champion sustainability and social responsibility. From organizing recycling programs to volunteering at local events, these teams embody our shared commitment to building a better world together.
In 2024, our progress didn’t happen by chance. It was the result of staying focused on the work, investing in what matters, and making decisions that align with our ethos. From expanding our portfolio of fiber-based solutions to strengthening the systems that hold us accountable, this year was shaped by meaningful gains and measurable outcomes across the business.
We responded to evolving market needs with Renovo and Stello, improved our recycling programs, and saw meaningful reductions in energy and water use through targeted conservation projects. These results reflect how we operate: with accountability built in, not added on. They’re part of a bigger picture that keeps us adaptable and focused on continuous improvement.
As we look to what’s next, we’ll continue to improve where it counts, refine our processes, strengthen our partnerships, and stay connected to the needs of our customers, community, and employees. The future doesn’t require reinvention; it requires continued commitment to what has always guided us: thoughtful action, responsible craftsmanship, and integrity in the details and a dedicated commitment to evolve
MPM SASB Pulp and Paper Products Sustainability Disclosure Topics & Metrics
Corporate Responsibility Report Data
