Albemarle 2021 Sustainability Report Highlights Advancements in New and Existing Targets
2021 Sustainability Report Highlights
- On Track to Meet Existing Targets for GHG and Freshwater Intensity
- Initial Assessment of Scope 3 Greenhouse Gas Emissions (GHG)
- Completed Initial Life Cycle Assessments (LCAs) of Lithium Products
- New Targets for Diversity, Equity and Inclusion (DE&I) Priorities
- Sustainability Webcast Scheduled for June 28, 2022, at 9 a.m. EDT
“Albemarle plays an important role in combating climate change, enabling the energy transition and supporting safe and sustainable advancement of electrification and digitalization,” said Albemarle CEO Kent Masters. “Sustainability is core to our long-term strategy. Our Sustainability Report highlights progress, commitments, and successes we realized in 2021 on a global scale as we continue to add value for all our stakeholders through our sustainability efforts.”
On Track to Meet Existing Targets for GHG Emissions and Freshwater Reductions
Last year, Albemarle began executing its climate strategy and the company is on track to meet or exceed initial sustainability targets for GHG emissions and freshwater intensity. This year’s report includes 2021 actions such as the procurement of renewable energy in the U.S. and the Netherlands and construction completion of a $100 million thermal evaporator in Chile. Albemarle also engaged PricewaterhouseCoopers LLP to provide independent assurance of scope 1 and 2 GHG data.
Initial Assessment of Scope 3 GHG Emissions and Completed LCAs
In this year’s report, Albemarle announced its initial assessment of scope 3 GHG emissions, including areas such as purchased goods and services, processing of sold products, use of sold products, and end-of-life treatment of sold products. The company will continue to refine its assessment in the coming years and will use the initial assessment to work with customers and suppliers to reduce emissions across the supply chain.
The report also provides detail on Albemarle’s first LCAs, completed in 2021, related to rock-based lithium hydroxide and brine-based lithium carbonate. Both studies were performed in accordance with ISO 14040/14044 standards. In addition, Albemarle plans to incorporate LCA requests into its sustainable procurement process to better understand the environmental impact of its suppliers.
In 2021, the company released its DE&I strategic plan for measurable actions to integrate DE&I in decision making, enhance organizational effectiveness, and meet future challenges and needs. Albemarle has set a 2022 goal of increasing global gender diversity by a further 1% year over year with a particular focus on its manufacturing workforce, and a goal to increase U.S. racial diversity in senior-level management roles by 1% year over year. The company plans to increase diversity steadily and consistently with the long-term goal of meeting or exceeding global manufacturing benchmarks.
For more information, please see Albemarle’s 2021 Sustainability Report.
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. We think beyond business as usual to power the potential of companies in many of the world’s largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
Kim Ronkin Casey – Kim.RonkinCasey@albemarle.com – (719) 331-6202
Source: Albemarle Corporation