CHARLOTTE, N.C., June 2, 2021 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), 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."
Sustainability Strategy and Targets
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.
Greenhouse Gas Emissions
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).
Alignment with Global Standards
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.
For a complete review of Albemarle's 2020 Sustainability Report and its new sustainability targets, please visit https://www.albemarle.com/sustainability.
Albemarle Sustainability Conference Call
Albemarle will host a webcast on Thursday, June 3, at 10:00 a.m. EDT with CEO Kent Masters and CFO Scott Tozier, who will present an update on the company's sustainability initiatives.
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C., 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.
Some of the information presented in this press release, the conference call and discussions that follow, including, without limitation, information related to sustainability goals and commitments, targets and timelines for achievement, environmental impact reduction goals, sustainability priorities, and all other information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results and future actions could differ materially from the views or plans expressed or implied due to a number of important factors, including those detailed from time to time in the reports we file with the SEC, including those described under "Risk Factors" in our most recent Annual Report on Form 10-K any subsequently filed Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
SOURCE Albemarle Corporation