AMSTERDAM — Nouryon has issued its third annual sustainability report highlighting the company’s progress and commitment to a sustainable future. Organized into three pillars, the Nouryon sustainability strategy focuses on continuously improving safety and environmental performance, growing and innovating to create sustainable solutions, and engaging and partnering with employees, customers, suppliers, and society to drive sustainable progress.
Key highlights of the 2021 report include:
- Top-quartile people safety performance: Nouryon achieved record-breaking annual people and process safety performance. Its recordable injury rate declined by 25% and process safety rate declined by 23% in 2021 as compared to the prior year.
- Updated targets to reduce greenhouse gas emissions (GHG): Nouryon’s absolute operational GHG emissions increased only 1% since 2019 even as the company achieved strong growth in production and sales volumes. The company set a new 2030 target to reduce operational GHG emissions3 by 40% and confirmed its existing 2030 targets to reduce water consumption intensity by 10% and total waste intensity by 10%, versus a 2019 baseline. By 2050, Nouryon aspires to be a net zero organization.
- Increased sustainable solutions that meet growing customer needs: 38% of Nouryon’s revenue came from Eco-Premium Solutions, while 71% of the company’s research and development pipeline was focused on solutions with a sustainable benefit. In 2021, Nouryon launched several new sustainable products, including: new degreasers and cleaners from its Berol® and Ethylan® product lines that meet the U.S. Environmental Protection Agency’s Safer Choice standard and the LumaTreat® smart-tagged polymer system for advanced water treatment.
- EcoVadis Gold rating and Carbon Disclosure Project (CDP) Climate Change B score: Nouryon earned an EcoVadis Gold rating, which places it in the top 3% of companies then rated by EcoVadis. In addition, Nouryon voluntarily responded to the CDP Climate Change questionnaire for the first time, which resulted in a B score.
- Building an inclusive and diverse work environment: Nouryon introduced its Inclusion and Diversity (I&D) program, which supports a network of over 50 I&D champions at the company’s offices and production sites, four company-wide, employee-led Business Resource Groups (BRGs), with over 800 members, and provides trainings and other resources to employees that help improve understanding and collaboration across diverse perspectives. The I&D program also supports Nouryon’s employee development opportunities, through a Global Mentoring Program, with over 200 participants in its first year.
- Increased transparency and data disclosure: Nouryon’s 2021 Sustainability Report is written in accordance with the Sustainability Accounting Standards Board (SASB) framework, and this is the company’s first report that aligns to the recommendations from the Task Force on Climate-related Financial Disclosures (TCFD). In addition, Nouryon joined the UN Global Compact, the world’s largest corporate sustainability initiative.
“At Nouryon we are guided by our purpose, and our commitment to a sustainable future. Sustainability is core to our strategy and values given its importance to our customers, employees, suppliers, and society,” said Charlie Shaver, Chairman and CEO of Nouryon. “I am proud of our focused investments, innovation-led approach, and customer intimacy that enable us to make a meaningful impact throughout our value chain and deliver value to our key stakeholders.”
“We advanced our sustainability priorities, which is reflected in our 2021 report. This includes progress against our key climate targets and continued focus on safety, while providing increased transparency on the evolution of our ESG strategy,” said Vivi Hollertt, Nouryon Chief Sustainability and Communications Officer. “I am proud of the new and elevated frameworks, standards and external assurances that provide our stakeholders with extensive disclosure and data, while further substantiating the progress we are making.”