PHILADELPHIA, Feb. 11, 2021 /PRNewswire/ -- Livent Corporation (NYSE: LTHM) today announced its new set of sustainability goals, having successfully achieved nearly all of its previous sustainability goals five years ahead of schedule. Livent's new goals are based on the findings of a Materiality Assessment and reflect the priorities of its customers, communities, investors, employees and other stakeholders, as well as the centrality of sustainability in its operations.
"Our new goals will guide Livent's sustainability journey going forward and help us build on our rich heritage as a lithium pioneer and leader for nearly 80 years. We will continue to improve our operations and hold ourselves accountable to meeting a high standard for sustainability. We are determined to help raise the bar for sustainability performance, responsible operations, community engagement and transparency across the lithium industry," said Paul Graves, president and chief executive officer of Livent.
Livent's new sustainability goals are set against baseline 2019 metrics, as documented in Livent's 2019 Sustainability Report. The goals are organized into three main categories and outlined below.
Achieve overall carbon neutrality by 2040, as announced previously.
Reduce greenhouse gas (GHG) intensity by 30% across Livent operations by 2030.
Transition 30% of the company's energy mix to renewable sources by 2030, beginning the path to 100% renewable energy.
Reduce water intensity by 10% to 30% across Livent operations by 2030, and continue to lead collaborative efforts to ensure sustainable water use, responsible operations and biodiversity at the Salar del Hombre Muerto and the surrounding area in Argentina.
Reduce waste intensity by 30% across Livent operations by 2030.
Dedicate the majority of Research & Development spending to develop or support green technologies, processes and products, by 2022.
Formalize involvement in industry initiatives to advance zero emission transportation and lithium battery recycling, by 2022.
Continue to focus on enhanced outcomes for uplifting and supporting Livent's local communities, as measured by community investments (both time and money), local hiring and impact assessments, including quality of relationship with Indigenous Peoples.
Continue to improve in all key Environmental Health & Safety (EHS) metrics, including less than 0.1 Total Recordable Incident Rate (TRIR).
Verify and enforce supplier compliance with Livent's Supplier Code of Conduct and responsible labor practices, as measured against various KPIs for supplier selection, monitoring and performance, beginning in 2021.
As a member of the UN Global Compact, maintain focus and progress against the 2030 UN Sustainable Development Goals.
Aspire to a level of talent diversity that reflects the geographies where Livent operates.
Maintain compensation structures and processes that promote pay equity.
Cultivate an inclusive and positive work environment for Livent employees.
Continue to publish annual sustainability reports following the requirements of leading reporting frameworks.
Complete ISO-compliant Life Cycle Assessments (LCAs) for strategic products by 2025.
Maintain and expand global certifications for the leading ISO management systems for Quality, Environmental Health & Safety (EHS), Social Management and Energy Management.
Conduct periodic third-party assurance of Livent's sustainability data and data collection methodology, beginning in 2021.
Participate in academic research studies on the environmental/social impact of operations at the Salar del Hombre Muerto, beginning in 2021.
Engage with leading organizations that are independently verifying and setting the global standards for responsible mining and manufacturing, beginning in 2021.
"While many of Livent's new sustainability goals are ambitious, we believe they are both achievable and necessary. Our success will hinge on our ability to develop innovative solutions, as we've done throughout our history, and support them with the appropriate deployment of financial investment and resources over time. While the road ahead will invariably have its share of challenges, we are confident in our ability to deliver on our commitments and excited about the role Livent can play for a better world and a more sustainable future," continued Mr. Graves.
For more information about Livent's sustainability program and updates on the company's progress against its new sustainability goals, please visit livent.com/sustainability.
About Livent For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent employs more than 900 people throughout the world and operates manufacturing sites in the United States, England, India, China and Argentina. For more information, visit Livent.com.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, events outside our control that could prevent us from achieving our sustainability goals, and the risk factors and other cautionary statements included within Livent's 2019 Form 10-K filed with the SEC as well as other SEC filings and public communications. Livent cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Livent undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
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