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Cabot Corporation Recognized by Investor’s Business Daily as One of the 100 Best ESG Companies
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Company featured as a top stock for environmental, social and governance values
BOSTON--(BUSINESS WIRE)--
Cabot Corporation (NYSE: CBT) announced it has been named to Investor’s Business Daily’s (IBD) 100 Best ESG Companies of 2021 list. The third annual list recognizes companies with superior environmental, social and governance (ESG) ratings in addition to strong fundamental and technical stock performance. Cabot ranked No. 28 and is featured on the list for the first time.
“We are honored to be recognized by IBD for our longstanding focus on sustainability,” said Sean Keohane, president and CEO. “We embrace sustainability as a strategic imperative and are committed to reducing our environmental footprint while bringing the power of innovative chemistry to our customers to solve many of the sustainability challenges facing our world. As an industry leader, we are focused on accelerating our progress on ESG issues by integrating sustainability into decision-making, collaborating with customers, and implementing advanced technology to reduce our environmental impact – all while continuing to increase transparency in our reporting efforts.”
To determine the 100 Best ESG Companies of 2021 list, IBD screened Dow Jones’ ESG ratings, which included more than 6,000 companies that mix profitability with ethical and social responsibility. The research team looked for the top 15% of the 2,360 companies whose stock price was $10 or higher and are investable in the United States. They then screened for companies with IBD Composite Ratings of 85 or better, reflecting broad strength in fundamental and technical areas linked to stock price performance. To complete the analysis, the companies were then ranked by Dow Jones’ ESG Ratings.
Cabot has been a signatory to the UN Global Compact since 2015 and is committed to a broad set of 2025 ESG goals that align with the company’s material topics. Cabot recently expanded its sustainability efforts to include adoption of the recommendations of the Task Force for Climate-related Financial Disclosures (TCFD), including performance of formal climate scenario analyses. The company is actively participating in two key chemical sector working groups: the Science Based Targets Initiative’s (SBTi) Chemical Sector Stakeholder Advisory Group and the Assessing low Carbon Transition (ACT) Chemical Sector Technical Working Group collaborating on chemical sector guidance and SBTi target setting methods and tools.
“As a leader in the performance materials and specialty chemicals industry, it is essential that we participate in enabling the transition to a lower carbon future,” said Martin O'Neill, senior vice president, Safety, Health, Environment & Sustainability. “We are committed to being a leader in our industry and are proud that our efforts are being recognized by IBD.”
For more information about Cabot’s sustainability performance and initiatives, visit cabotcorp.com/sustainability.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
