ENVALIOR ANNOUNCES SUSTAINABILITY AMBITIONS TO DECREASE CARBON EMISSIONS
- Envalior is dedicated to reach its sustainability ambitions that will decrease greenhouse gas emissions by 100% until 2040*
- Envalior confirms its sustainability commitment by joining the UN Global Compact, the world's largest corporate sustainability initiative
DÜSSELDORF, Germany, Oct. 17, 2024 /PRNewswire/ -- To fulfill Envalior's sustainability aim, to be a global leader in sustainable high-performance engineering materials, the company announces its new Sustainability Ambitions and that it has joined the United Nations Global Compact, the world's largest corporate sustainability initiative.
Envalior's sustainability ambitions focus on reducing its greenhouse gas emissions and extending its circular portfolio by:
- Achieving 100% renewable electricity by 2030.
- Reducing greenhouse gas emissions by 75% by 2030*.
- Reducing greenhouse gas emissions by 100% by 2040*.
- Offering an entire portfolio of bio-based and/or recycled based alternatives by 2030.
"Sustainability is a key priority in our strategy, and we want to make that visible to the world," said Günter Margraf, Director of Sustainability for Envalior. "Meeting these ambitions will enable us to realize the huge transformation that is ahead of us and help our customers on their sustainability journey."
The United Nations Global Compact
Another commitment Envalior has taken towards sustainability is becoming a participant of the United Nations Global Compact, the world's largest corporate sustainability initiative. Based on 10 universal principles, the UN Global Compact pursues the vision of an inclusive and sustainable global economy and focuses on topics such as human rights, labor, environment, and anti-corruption. As a signatory Envalior commits to operating in accordance with these fundamental rights and will report annually on its progress.
Chief Executive Officer of Envalior Calum McLean stated, "It is exciting to confirm that Envalior supports the United Nations Global Compact and its principles. Making it part of the strategy, culture and day-to-day operations of our company, and to engage in collaborative projects, which advance the broader development goals of the United Nations."
The United Nations Sustainable Development Goals
The 2030 Agenda for Sustainable Development provides a vision for peace and prosperity for the people and the planet. At its core are the 17 Sustainable Development Goals (SDGs) that address global challenges, such as inequality and climate change and that provide guidance for businesses. Envalior is committed to supporting the implementation of the SDGs and has evaluated where Envalior's business activities have the greatest direct impact on:
- SDG 7: Affordable and Clean Energy
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals.
Envalior's goal to achieve 100% renewable electricity by 2030 has a positive impact on SDG 7. Envalior has implemented various initiatives, including renewable power purchase agreement and solar panel installations that make electricity consumption cleaner. At the same time these measures relate to SDG 13 "Climate Action" as also greenhouse gas emissions are decreasing. Other measure that enhances Envalior's emissions consumption is its nitrous oxide reduction plant in Antwerp, Belgium, that saves roughly 450,000 t CO2eq on a yearly basis. These are only some of several steps that Envalior is taking to become a frontrunner in sustainability.
Further information about Envalior's sustainability ambitions can be found at www.envalior.com/sustainability.
About Envalior
Envalior is a global leader in Engineering Materials with over 4,000 employees worldwide. It was established in 2023 through the merger of Lanxess Performance Materials and DSM Engineering Materials. With a long track record of customer-driven innovation, Envalior specializes in developing sustainable and high-performance material solutions. Focus markets include Automotive, New Mobility, Electronics & Electrical, and Consumer Goods. For more information, visit www.envalior.com.
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third-party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of Envalior GmbH to differ materially from the estimates expressed or implied herein. Envalior GmbH does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of Envalior GmbH or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
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