Actively managing environmental issues is not only our responsibility as a good corporate citizen, but also an opportunity to create new revenue streams from sustainable chemistry while reducing risk for our company and our customers.
Climate Change
We understand that climate change poses a unique challenge for society and that collective effort is required to effectively prepare for and mitigate its impacts. Responsible manufacturing is at the heart of our operations. We are committed to operate our sites in a manner that reduces GHG emissions, conserves water, and minimizes and properly disposes of waste. We also strive to help our customers do the same, including by exceeding regulatory requirements where possible.
We also work to address climate change by setting ambitious objectives for ourselves and implementing sustainable initiatives where possible. In 2022, we announced our goal to reduce our combined Scope 1 and Scope 2 GHG emissions intensity by 2030. For more information, see Energy & Emissions.
We are in the preliminary stage of understanding our Scope 3 emissions and intend to incorporate this data into our disclosures in the future.
TCFD Index
In 2022, we became an official Task Force on Climate-related Financial Disclosures (TCFD) supporter and published our inaugural TCFD Index, which presented our preliminary assessment of the impact of climate change to our businesses. Although no specific climate change risk was identified as expected to have a substantial financial or strategic impact on our business, we are committed to address and manage any climate-related regulatory, reputation and/or market risks if and when they arise. We also believe climate change presents robust commercial opportunities for our business, including in clean technology markets, such as vehicle electrification. For more information, see our TCFD Index.
