Momentive Performance Materials Announces Environmental, Social & Corporate Governance Commitment Behind Their Sustainable Global Solutions

WATERFORD, N.Y., June 23, 2021  /PRNewswire/ -- Momentive Performance Materials Inc. (Momentive) has published its Environmental, Social & Corporate Governance (ESG) Commitment. In 2020, the company elevated its focus on sustainability, implementing global reporting initiative (GRI) principles in its 2019 Sustainability Report. Building on that foundation, Momentive has established rigorous sustainability priorities and integrated sustainability practices into their culture company wide.

"Momentive is committed to becoming world class in sustainability," said Sam Conzone, Momentive President & CEO, PhD. "We have a history of delivering sustainable solutions while supporting our people, our communities and our planet. This commitment formalizes all we have been doing and will continue to do as we pursue challenging and impactful environmental, social, and governance goals. That includes increasing our gender diversity, producing innovative and green-chemistry based products that will positively impact the planet, and reducing the environmental impact from our plants and integrated supply chain."

Momentive's ESG Commitment includes policies, procedures and standards that enhance internal and external stakeholder understanding of, and accountability for, sustainability. The Commitment connects directly to Momentive's Vision 2025 Strategy, the company's roadmap for the next five years and beyond, and highlights the organization's sustainability goals:

• Our People
• Increasing Momentive's gender diversity 50 percent by 2025.
• Our Products
• Driving innovation so 75 percent of product sales deliver sustainable improvements by 2025.
• Our Planet
• Reducing greenhouse gas, solid waste and hazardous waste 25 percent by 2025.
• Achieving 50 percent renewable energy supply by 2025.
• Reducing water consumption 10 percent by 2025.
• Achieving a Platinum EcoVadis supply chain score by 2025.

Each goal aligns to one of our broader Vision 2025 strategic pillars – Cultural Impact, Operational Excellence, and Profitable Growth. Simultaneously, they set Momentive's long-term path for continuous improvement and optimization. Progress around these goals will be a focal point in future communications, including the 2020 Sustainability Report.

"Sustainability is a good business practice," said Craig Branchfield, Momentive Senior Vice President of Environmental, Health, and Safety and Operations Excellence. "It increases employee engagement, customer satisfaction and business results. That translates to a cycle of continuous improvement and more sustainable solutions. Most importantly, sustainability is good for the world."

Momentive Becomes A United Nations Global Compact Signatory

Accompanying its ESG Commitment and Vision 2025 Strategy, Momentive has become a United Nations (UN) Global Compact signatory . Each of its sustainability goals aligns with the UN Global Compact's 10 Principles on human rights, labor, anti-corruption and the environment. 

Launched in July 2000, the UN Global Compact is the largest global corporate sustainability initiative. The Compact unites, supports, and holds companies accountable for aligning their business strategies to advance human rights, labor, anti-corruption, and the environment, as well as the UN Sustainable Development Goals. This year, the UN Global Compact announced the 2021-2023 Strategy to support acceleration of businesses' global collective impact to foster change, especially in the face of the COVID-19 pandemic.

"Momentive has been and continues to be part of the battle against COVID-19, providing products and materials critical to testing kits, vials, and ventilators, and integral enablers of biopharmaceutical equipment used to invent and produce vaccines," said Conzone. "We continue to look for ways to make these solutions, and all our products and materials, more sustainably. We are fully committed to delivering Solutions for a Sustainable World – From our products, through our people, to our plants."

Momentive's next UN Global Compact Communication on Progress will publish by November 6, 2021.

To read Momentive's ESG Commitment and learn more about Sustainability at Momentive, visit Momentive's Commitment to Sustainability | Momentive.

About the Company

Momentive Performance Materials Inc. is a global leader in silicones and advanced materials, with a 75-year heritage of being first to market with performance applications for major industries that support and improve everyday life. The Company delivers science-based solutions by linking custom technology platforms to customer needs. Momentive Performance Materials Inc. is an indirect wholly owned subsidiary of MOM Holding Company. Additional information about Momentive and its products is available at www.momentive.com.

SOURCE Momentive Performance Materials Inc.