Albemarle's Commitment to Sustainability Shines in New Report

As global demand for critical minerals intensifies, Albemarle (NYSE:ALB) continues to position itself as a global leader not only in lithium production but also in sustainable practices.

In its newly released 2024 sustainability report, titled “Values-Led, Purpose-Driven,” the company underscores its commitment to reducing its environmental footprint across six continents, supporting global supply chains and promoting human rights across operations.

From cutting freshwater intensity at its Chilean operations by 28 percent to procuring 24 percent of its electricity from renewable sources, Albemarle is striving to grow its energy storage business while keeping carbon emissions flat, as it translates ESG goals into action.

The Investing News Network sat down with Vice President of Investor Relations and Sustainability, Meredith Bandy, to learn more about how Albemarle is embedding sustainability into every layer of its business, from lithium and bromine operations to community engagement and product stewardship.

Before joining Albemarle, Bandy held a similar role at gold major Newmont (TSX:NGT,NYSE:NEM) and brings a wealth of experience from the financial services industry as well.

“I have that core experience in finance, being on Wall Street, doing investor relations and then branching out more into other areas has been something I've really enjoyed,” said Bandy of the variety of roles she has held.

As head of investor relations and sustainability Bandy was part of the team that drafted Albemarle’s 2024 sustainability report released in mid-June. The comprehensive 79-page overview highlights Albemarle’s environmental focus with tangible gains in renewable energy use and water conservation.

The company now sources 24 percent of its electricity from renewables, up from 16 percent in 2023, and aims to grow its energy storage business without increasing Scope 1 and 2 emissions.

A new decarbonization roadmap will address key emissions hotspots through electrification, efficiency upgrades and low-carbon power alternatives. On the water front, Albemarle cut freshwater intensity at its La Negra site in Chile by 28 percent, while recent upgrades at its Jordan Bromine Company plant are expected to bring that facility in line with 2030 reduction targets.

At the center of Albemarle’s strategy is community and customer base, as Bandy explained.

“Staying on top of the regulatory requirements, and staying really close to our customers and understanding what's most important to them,” she said.

Bandy went on to note: “When we talk to the customers, it's not surprising, they want to make sure that their EVs are clean, that they're low carbon emissions, they're being responsible with the water use, that there's no human rights violations in the supply chain. Sustainability can be a lot of things to a lot of people, but making sure we stay in those really core issues to our customers, and staying close to our customers, to make sure we're doing the right things.”

Albemarle has expanded its commitment to transparency and accountability by offering externally verified carbon footprints for its lithium and bromine products across key facilities in the US, Jordan and China.

The company also completed a human rights assessment at its Salar de Atacama operation in Chile to ensure alignment with international standards.

The 2024 sustainability report was prepared in accordance with leading ESG frameworks, including GRI, SASB and TCFD, reinforcing Albemarle’s emphasis on robust governance and responsible supply chain practices.

As Bandy mentioned the company is also working closely with customers, not only delivering the lithium and bromine but also developing key technologies. Albemarle supplies a key lithium derivative to Kraton, a producer of specialty polymers and bio-based chemicals, for use in styrenic block copolymers (SBCs), an essential additive in plastic waste recycling.

This application supports circular economy initiatives by enhancing the reuse of materials. Beyond the technical partnership, Albemarle and Kraton share a strong alignment in values and sustainability goals, reinforcing their mutual commitment to responsible innovation and environmental stewardship.

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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.