Braskem America Announces Renewable and Emissions-Free Power Purchases in Alignment with Commitment to a Carbon-Neutral Circular Economy
Braskem America has secured renewable energy contracts to cut its CO2 emissions significantly, aiming for over a 15% reduction by 2030 and carbon neutrality by 2050. The company has signed power purchase agreements in West Virginia and Pennsylvania and will utilize energy from wind, solar, and nuclear sources. CEO Mark Nikolich emphasized this initiative as a step towards building a Carbon-Neutral Circular Economy. Braskem strives for sustainable operations, aligning its efforts with broader environmental goals.
- Secured renewable energy contracts in West Virginia and Pennsylvania.
- Aiming for a 15% reduction in CO2 emissions by 2030.
- Pathway established for carbon neutrality by 2050.
- Positive alignment with sustainability goals enhances brand reputation.
- The press release does not provide specific financial metrics supporting the contracts.
- Dependence on external factors for achieving stated carbon neutrality goals.
Braskem America signs renewable and emissions-free energy contracts for its production facilities reducing annualized CO2e output beginning in 2022
PHILADELPHIA, Nov. 9, 2022 /PRNewswire/ -- Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced significant progress towards securing renewable and emissions-free power for its North American production facilities. The Company's current energy sourcing roadmap calls for more than a
Mark Nikolich, CEO of Braskem America, stated "Braskem has a clear commitment to helping create a Carbon-Neutral Circular Economy and everything is transformed. Our initial North American renewable, as well as emissions-free power purchase agreements, are aligned with Braskem's macro goals of reducing CO2 scope 1 and 2 greenhouse gas emissions and expanding the circular economy concept in the plastic chain with the end goal of becoming a carbon-neutral company by 2050. Looking ahead, we will further scale our North American renewable and emissions-free power purchases and we look forward to reporting on our progress along the way to creating a more sustainable future for everyone."
Today's announcement reflects Braskem America's success in signing a renewable power purchase agreement (PPA) for Neal, West Virginia, securing emissions-free power contracts for Marcus Hook, Pennsylvania through 2027, and purchasing Renewable Energy Certificates (RECs) in the USGC resulting in an annualized reduction of CO2 scope 1 and 2 greenhouse gas emissions. These initial agreements source energy from wind, solar, and nuclear as the first phase in Braskem America's carbon reduction goals. Braskem publishes its GHG Emissions Inventory every year, with the GHG Protocol guidelines.
Richard Huh, Renewable Energy & Decarbonization Manager, Braskem America, "Braskem has a long-standing commitment to sustainability and carbon reduction initiatives, and our renewable and emissions-free power purchases reflect another major advance in our carbon neutrality framework in North America all helping advance our long-term carbon neutrality objective. These important reductions in CO2 emissions would not be possible without the close coordination of our energy production, regulatory and governmental partners in each of our key operating regions and we are grateful for their support."
To learn more visit https://www.braskem.com/usa/combatingclimatechange.
ABOUT BRASKEM
With a global vision of the oriented future-oriented toward people and sustainability, Braskem is committed to contributing to the value chain for strengthening the Circular Economy. The petrochemical company's almost 8,000 team members dedicate themselves every day to improve people's lives through sustainable chemicals and plastics solutions. Braskem has an innovative DNA and a comprehensive portfolio of plastic resins and chemical products for diverse segments, such as food packaging, construction, manufacturing, automotive, agribusiness, healthcare, and hygiene, among others. With 40 industrial units in Brazil, the United States, Mexico, and Germany, and exports its products to clients in more than 70 countries.
Braskem America is an indirect wholly owned subsidiary of Braskem S.A. headquartered in Philadelphia. The company is the leading producer of polypropylene in the United States, with five production plants located in Texas, Pennsylvania, and West Virginia, an Innovation and Technology Center in Pittsburgh, and operations in Boston focused on leveraging groundbreaking developments in biotechnology and advanced materials. For more information, visit www.braskem.com/usa.
FORWARD-LOOKING STATEMENTS
This press release contains projections and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) regarding future events. These statements reflect Braskem's current beliefs and expectations with respect to Braskem's business, the economy, and other future conditions and are based on assumptions, are subject to risk and uncertainties and are subject to change at any time. Actual events or results may differ materially from those contained in such forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) the continuation of restrictions related to the COVID -19 Pandemic or the continuing effects of the Pandemic; (ii) the contraction or lack of growth in the market segments in which Braskem competes and in which its products are sold (iii) unexpected delays in commissioning, (iv) increased competition from imports or in the export markets, (v) inability to anticipate future market trends and the future needs of Braskem's customers, (vi) the impact of natural disasters on Braskem's facility and its suppliers and (vii) other factors detailed in documents Braskem files from time to time with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
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SOURCE Braskem
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