Balchem Corporation Releases 2023 Sustainability Report

Rhea-AI Summary

Balchem published its 2023 Sustainability Report, emphasizing its commitment to sustainability, achieving a 32% reduction in GHG emissions, and exceeding its water reduction goal. The report highlights strategic acquisitions, recognition as one of America's Most Responsible Companies, and progress on diversity and inclusion initiatives.

Positive

• Balchem exceeded its 2030 GHG emissions reduction goal of 25% by achieving a 32% improvement over the 2020 baseline.
• The company reduced its water withdrawal by 8% compared to the 2020 baseline, on track to achieve the 25% reduction commitment.
• Balchem integrated strategic acquisitions of Kappa Bioscience AS and Bergstrom Nutrition, enhancing its product portfolio.
• Newsweek named Balchem one of America's Most Responsible Companies for the fourth consecutive year, recognizing its ESG efforts.
• The report showcases the company's progress on diversity, equity, inclusion, and employee safety initiatives.

Negative

• None.

MONTVALE, N.J., April 22, 2024 (GLOBE NEWSWIRE) -- Balchem Corporation (NASDAQ: BCPC) today published its 2023 Sustainability Report, highlighting the Company's Corporate Social Responsibility initiatives and accomplishments.

Guided by our core values and our vision of making the world a healthier place, our Sustainability Report demonstrates the Company's continuing promise to provide our employees, customers, shareholders and the communities within which we operate with information on Balchem’s sustainability initiatives.

“I am very pleased with the progress Balchem continues to make in advancing our sustainability efforts, as detailed in our 2023 Sustainability Report,” said Ted Harris, Chairman, President, and Chief Executive Officer. “Our performance, notably on our 2030 goals to reduce both greenhouse gas emissions and water usage by 25 percent, shows are commitment to our two main objectives: providing innovative solutions for the health and nutritional needs of the world and operating with excellence as strong stewards of our people, communities, and shareholders.”

Highlights of the report include:

• Balchem celebrated the third anniversary of our commitment to the United Nations (“UN”) Global Compact confirming our alignment with the Ten Principles on human rights, labor, the environment, and anti-corruption.
• Balchem reported Scope 1, Scope 2, and Scope 3 GHG emissions for 2023 which represents the first time that we are reporting our measured Scope 3 emissions.
• In 2023, Balchem exceeded our 2030 GHG emissions reduction goal of 25%, as we achieved a 32% improvement over our 2020 baseline.
• We remain on track to achieve our commitment to reduce water usage by 25%. In 2023, Balchem reduced its water withdrawal by 8% compared to our 2020 baseline.
• We progressed our strategic plan to advance diversity, equity, inclusion, and belonging at Balchem, and remain committed to fostering a diverse and inclusive culture.
• Our continuous improvements, progress and focus on employee safety and product quality.
• Fully integrated the two key strategic acquisitions of Kappa Bioscience AS, a leading science-based manufacturer of specialty vitamin K2, and Bergstrom Nutrition, a leading science-based manufacturer of methylsulfonylmethane, or MSM.
• We are pleased that Newsweek magazine named Balchem one of America’s Most Responsible Companies for the fourth consecutive year, in recognition of our Environmental, Social and Governance efforts, and our unwavering commitment to make the world a healthier place.

For more information visit balchem.com/sustainability

About Balchem Corporation

Balchem Corporation develops, manufactures and markets specialty ingredients that improve and enhance the health and well-being of life on the planet, providing state-of-the-art solutions and the finest quality products for a range of industries worldwide. The company reports three business segments: Human Nutrition & Health; Animal Nutrition & Health; and Specialty Products. The Human Nutrition & Health segment delivers customized food and beverage ingredient systems, as well as key nutrients into a variety of applications across the food, supplement and pharmaceutical industries. The Animal Nutrition & Health segment manufactures and supplies products to numerous animal health markets. Through Specialty Products, Balchem provides specialty-packaged chemicals for use in healthcare and other industries, and also provides chelated minerals to the micronutrient agricultural market.

Contact:

Denis Sangulin, Balchem Corporation (845) 326-5600 / sustainability@balchem.com

FAQ

What does Balchem's 2023 Sustainability Report highlight?

Balchem's 2023 Sustainability Report highlights the company's commitment to sustainability, GHG emissions reduction, water usage reduction, strategic acquisitions, recognition as one of America's Most Responsible Companies, and progress on diversity and inclusion initiatives.

Did Balchem meet its GHG emissions reduction goal for 2023?

Balchem exceeded its 2030 GHG emissions reduction goal of 25% by achieving a 32% improvement over the 2020 baseline.

What recognition did Balchem receive in 2023?

Balchem was named one of America's Most Responsible Companies by Newsweek for the fourth consecutive year.

What acquisitions did Balchem integrate in 2023?

Balchem integrated strategic acquisitions of Kappa Bioscience AS and Bergstrom Nutrition.

How did Balchem progress on diversity and inclusion initiatives in 2023?

Balchem progressed its strategic plan to advance diversity, equity, inclusion, and belonging, demonstrating a commitment to fostering a diverse and inclusive culture.