An update on Dow’s sustainability journey is now available in its second annual “INtersections” report, demonstrating what the company has achieved after 18 years of sustainability commitments.
The spotlight on Dow’s environmental, social, and corporate governance (ESG) framework discusses “the interdependency between the environment and society, innovation and science, collaboration and action.”
Jim Fitterling, chairman and Dow CEO, commented that “the challenges facing our local and global communities are increasingly complex and interconnected, and demand a collaborative and integrated approach.”
Among the company’s plans to decarbonize is a new integrated ethylene cracker and derivatives site in Fort Saskatchewan, Alberta, which is the world’s first facility of its kind with net-zero carbon emissions. In addition, Dow anticipates reducing its current CO2 emissions at its Netherlands operations more than 40 percent by 2030. It also generated access to renewable energy by more than 900 megawatts.
Dow also advanced its research and design for recyclability and circular plastics, including: scaling supply partnerships with companies such as Mura Technology and Fuenix to produce circular feedstocks from advanced recycling processes; committing to delivering circular polymers from advanced recycling by the end of 2022; an investing in collaborative actions to minimize and manage plastic waste through partnerships such as the Alliance to End Plastic Waste.
This is the third year the company has submitted a report regarding inclusion and diversity. Dow mentioned that it is “taking deliberate actions” in this area, with new global paid time-off policies allowing workers a broader parental leave and volunteering policy. Dow also has linked inclusion and diversity metrics to its annual performance award program for all people leaders and senior directors, where legally permissible, it stated.
These efforts led into the company’s $13 million monetary designation toward Dow ACTs, “a framework designed to address systemic racism and inequality.” It also pledged to accelerate the upskilling, hiring and advancement of nearly 1 million Black individuals in the next year as part of the OneTen consortium.
A $2 million investment in seed grants for projects in 12 countries, driving infrastructure projects to keep plastic waste out the environment and form circular supply chains, also advanced Dow’s efforts.
The company amplified its transparency in ESG reporting with more detailed analysis on carbon emissions and climate risk disclosures as well as greenhouse gas intensity metrics.
The 2021 “INtersections” ESG Report includes disclosures prepared in accordance with the Global Reporting Initiative (GRI) Standards, according to the company.