Commitment and contribution to a Sustainable Future
Our solutions are essential for thousands of products people use every day. We believe good chemistry is key to a sustainable future.
Our ‘Commitment to a Sustainable Future’ is based on three pillars:
We aim to achieve carbon neutral by 2030 and to achieve net zero emissions by 2050. To achieve this, we set short-term 2020-2025 targets to reduce absolute carbon emissions (scope 1 and 2) by 25% and to increase the share of our low carbon and renewable energy to 70%. Our 2025 targets align to the 2015 UNFCCC Paris Agreement and the latest science from the UN Intergovernmental Panel on Climate Change (IPCC)*, which advocates limiting warming from climate change to 1.5-degree Celsius. Additional mid-term targets include reducing total waste intensity by 10% and reducing water consumption intensity by 10% by 2030.
*2018 report on Global Warming of 1.5°C
We are a signatory of the UN Global Compact. We involve both internal and external stakeholders in the development and governance of our sustainability agenda, and all members of our Leadership Team have ownership of our Environmental, Social and Governance (ESG) topics and initiatives. We disclose our ESG results on an annual basis, following the Sustainability Accounting Standards Board (SASB) disclosure standards.
Our progress includes many achievements and milestones:
In addition to the above achievements, our sustainability progress has included the following:
In 2020, over 20% of our organic raw materials were sourced from bio-based sources, and we successfully reduced our environmental footprint significantly (2019-2020). For example, we reduced our SOx intensity by 50%, our NOx intensity by 57% and have reduced the intensities of our water intake and waste by 36% and 18%, respectively. Approximately 70% of our innovation pipeline is focused on sustainable products and for 2020, 37% of our revenues were derived from sales of our Eco-Premium Solutions.
(figures are excluding Nobian)
Sustainability is a cornerstone of our strategy to achieve long-term growth and we involve a wide range of experts and stakeholders in the development of our sustainability agenda.
Our focused approach is anchored in a Materiality Assessment conducted in 2019, which helped identify key sustainability issues that are most important to the company and where we can have the biggest impact.
Sustainability is the collective responsibility of the Nouryon Leadership Team, led by Charlie Shaver, Chairman and CEO. The Chief Sustainability & Communications Officer, Vivi Hollertt, develops and oversees Nouryon’s global sustainability approach. All members of the Leadership Team have ownership of ESG topics and initiatives. Nouryon engaged ERM Certification and Verification Services (ERM CVS) to provide limited assurance in relation to specified 2020 data and reporting.
Operational and environmental sustainability is managed directly by the Integrated Supply Chain function, reporting to the Chief Integrated Supply Chain Officer. This includes overseeing our performance on safety, greenhouse gas emissions and energy use, eco-efficiency program, and water management strategy. This ensures that our sustainability performance is supported at all our manufacturing sites around the globe. Sustainable Sourcing, which also falls under Integrated Supply Chain, is the responsibility of the Chief Procurement Officer. Responsibility for Compliance lies with the Executive Vice President, Business Affairs, General Counsel and Corporate Secretary and a dedicated Chief Compliance Officer and Vice President of Inclusion & Diversity who also leads Diversity & Inclusion. Human Resources, including the development and empowerment of our people, is overseen by the Chief Human Resources Officer.
Nouryon is committed to transparency and discloses its sustainability progress in an annual Sustainability Report, which is assured by an independent third party and Environmental, Social and Governance (ESG) data sheet. We are a signatory of the UN Global Compact and follow the Sustainability Accounting Standards Board (SASB) disclosure standards. As of July 2021, we report our climate actions to the Carbon Disclosure Project (CDP). In addition, we have started on our Task Force on Climate related Financial Disclosures (TCFD) reporting journey.
Strengthening our commitment by joining the United Nations Global Compact
Keep aiming high
We have been awarded a Gold rating by EcoVadis for our sustainability achievements. This rating places Nouryon in the top 3% of more than 75,000 companies assessed by the global sustainability ratings provider.
We achieved strong scores in all assessed areas, including environment, labor and human rights, ethics, and sustainable procurement.
More about our performance