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ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today the release of its annual global Sustainability Report.
2021 Sustainability Report Highlights
- On Track to Meet Existing Targets for GHG and Freshwater Intensity
- Initial Assessment of Scope 3 Greenhouse Gas Emissions (GHG)
- Completed Initial Life Cycle Assessments (LCAs) of Lithium Products
- New Targets for Diversity, Equity and Inclusion (DE&I) Priorities
- Sustainability Webcast Scheduled for June 28, 2022 , at 9 a.m. EDT
" Albemarle plays an important role in combating climate change, enabling the energy transition and supporting safe and sustainable advancement of electrification and digitalization," said Albemarle CEO Kent Masters . "Sustainability is core to our long-term strategy. Our Sustainability Report highlights progress, commitments, and successes we realized in 2021 on a global scale as we continue to add value for all our stakeholders through our sustainability efforts."
On Track to Meet Existing Targets for GHG Emissions and Freshwater Reductions
Last year, Albemarle began executing its climate strategy and the company is on track to meet or exceed initial sustainability targets for GHG emissions and freshwater intensity. This year's report includes 2021 actions such as the procurement of renewable energy in the U.S. and the Netherlands and construction completion of a $100 million thermal evaporator in Chile . Albemarle also engaged PricewaterhouseCoopers LLP to provide independent assurance of scope 1 and 2 GHG data.
Initial Assessment of Scope 3 GHG Emissions and Completed LCAs
In this year's report, Albemarle announced its initial assessment of scope 3 GHG emissions, including areas such as purchased goods and services, processing of sold products, use of sold products, and end-of-life treatment of sold products. The company will continue to refine its assessment in the coming years and will use the initial assessment to work with customers and suppliers to reduce emissions across the supply chain.
The report also provides detail on Albemarle's first LCAs, completed in 2021, related to rock-based lithium hydroxide and brine-based lithium carbonate. Both studies were performed in accordance with ISO 14040/14044 standards. In addition, Albemarle plans to incorporate LCA requests into its sustainable procurement process to better understand the environmental impact of its suppliers.
DE&I Targets
In 2021, the company released its DE&I strategic plan for measurable actions to integrate DE&I in decision making, enhance organizational effectiveness, and meet future challenges and needs. Albemarle has set a 2022 goal of increasing global gender diversity by a further 1% year over year with a particular focus on its manufacturing workforce, and a goal to increase U.S. racial diversity in senior-level management roles by 1% year over year. The company plans to increase diversity steadily and consistently with the long-term goal of meeting or exceeding global manufacturing benchmarks.
For more information, please see Albemarle's 2021 Sustainability Report .
Albemarle Sustainability Webcast
Albemarle will host a webcast on Tuesday, June 28 , at 9 a.m. EDT with CEO Kent Masters , CFO Scott Tozier , VP of Government and Community Affairs Ellen Lenny-Pessagno, VP of Investor Relations and Sustainability Meredith Bandy and VP of Culture Timitra Hildebrand-Jones, who will present an update on Albemarle's sustainability initiatives.
Registration for the webcast can be accessed here . Once registered, users will receive a link via email to directly access the webcast. A webcast replay will be posted to the company's website following the conclusion of the event.
About Albemarle
ALBemarle Corporation (NYSE: ALB) 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.
Forward-Looking Statements
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.
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SOURCE Albemarle Corporation
