By: ICN Bureau
Last updated : June 03, 2021 9:53 pm
Albemarle supports the goals of the Paris Agreement and aspires to achieve net zero carbon emissions by 2050.
Albemarle Corporation, a leader in the global specialty chemicals industry, announced today the release of its annual global Sustainability Report. This year's report lays out meaningful and achievable targets for greenhouse gas emissions and water use.
"Albemarle is a values-driven organization that is committed to doing the right things the right way, and sustainability is a key to our success," said Kent Masters, Albemarle CEO. "Our 2020 report illustrates the progress we made with our sustainability initiatives and incorporates our new targets, which are aimed at reducing energy and water use. Our new climate strategy also outlines how we intend to work with our key stakeholders and actively pursue operational efficiencies to help create a safer and more sustainable world."
Albemarle's climate strategy details how the company manages climate-related risks at existing operations and across new projects, partners with customers to enable their sustainability ambitions, and collaborates with its stakeholders to help fight climate change.
Albemarle supports the goals of the Paris Agreement and aspires to achieve net zero carbon emissions by 2050. The company commits to reducing the carbon-intensity of its Catalysts and Bromine businesses (jointly) by 35% by 2030, in-line with science-based targets. Albemarle also commits to growing its Lithium business in a carbon-intensity neutral manner through 2030. Over the next two years, the company also intends to build the underlying project portfolio and to assess the ability to meet, or exceed, these targets.
Water is a critical component in the successful operation of Albemarle's business and the company commits to reduce the intensity of freshwater usage by 25% by 2030 in areas of high and extremely high-water risk as defined by the World Resources Institute (WRI).
In April 2021, Albemarle became a signatory to the United Nations Global Compact (UNGC), deepening its commitment to being a sustainable and responsible business. This year's report also maps the company's sustainability priorities that support the UN SDGs in order to determine where Albemarle can have the greatest impact.
Albemarle's 2020 report aligns with the Sustainability Accounting Standards Board (SASB) standards that help disclose material, decision-useful information to investors and is referenced to the Global Reporting Initiative (GRI) standards, which ensures relevant and transparent disclosures.