Chemours Announces Ambitious Net Zero Greenhouse Gas Emissions Goal

Rhea-AI Summary

The Chemours Company (NYSE: CC) aims for net zero greenhouse gas emissions by 2050, targeting a 60% reduction in operations-related emissions by 2030. Appointing Sheryl Telford as Chief Sustainability Officer, Chemours will enhance emission control technologies and utilize renewable energy sources. The company also plans to establish goals for indirect emissions (Scope 3) in the future. Chemours offers products like Opteon refrigerants and Nafion membranes that support climate change efforts and will drive collaborations for a sustainable future.

Positive

• Commitment to net zero greenhouse gas emissions by 2050.
• Targeting a 60% reduction in operations-related emissions by 2030.
• Appointment of Sheryl Telford as Chief Sustainability Officer to lead sustainability efforts.
• Focus on enhancing emissions control technologies and increasing renewable energy usage.

Negative

• None.

WILMINGTON, Del., April 15, 2021 /PRNewswire/ -- The Chemours Company (NYSE: CC), a global chemistry company with leading positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions, today announced its ambitious goal to achieve net zero greenhouse gas emissions by 2050.  Chemours is driving to achieve a 60% absolute reduction of operations-related greenhouse gas emissions by 2030, putting the company on the path to net zero greenhouse gas emissions by 2050. The company also announces the appointment of Sheryl Telford as Chief Sustainability Officer to lead its end-to-end sustainability effort.

According to Chemours president and chief executive officer Mark Vergnano, "Businesses like Chemours have an opportunity to help build a more sustainable future. Our more ambitious greenhouse gas emission goal, along with our other Corporate Responsibility Commitments, reflect our strategy to grow our business responsibly and sustainably. It's good for business and good for the planet."

Chemours is using a holistic approach to address direct emissions from operations (Scope 1) and indirect emissions from electricity and other energy sources (Scope 2). To address Scope 1 emissions, the company will continue to enhance emissions control technologies at its manufacturing sites and drive energy efficiency improvements across its operations, reducing the volume of greenhouse gas emissions and energy use. To address Scope 2 emissions, Chemours will increase the amount of electricity and other energy generated from renewable sources.

The company is also in the process of defining goals related to indirect emissions from its value chain (Scope 3) and will announce them at a later date. Achieving net zero greenhouse gas emissions will require significant collaboration in both the public and private sectors to deliver technological innovation and government policies that enable and incent the transition to a greener economy.

Chemours has a variety of product offerings that aid the fight against climate change. They include Opteon^TM low global warming potential (GWP) refrigerants for mobile and stationary uses, Teflon^TM fluoropolymers that are critical to emissions control, energy efficiency and the electrification of vehicles, and Ti-Pure™ titanium dioxide enables highly reflective surfaces to maximize use of electric or solar energy in applications such as photovoltaic backsheets and reflective films in electronics and maintaining surfaces cool for efficient and reduced energy consumption such as in roofing membranes and protective films. Another Chemours product, Nafion^TM ion exchange membrane, is at the center of the hydrogen economy. Nafion enables the scalable production of hydrogen via electrolysis and use of hydrogen as a fuel source in heavy duty transport, passenger vehicles, and material handling. Not only will Chemours be doing its part to reduce its operational impact but its products will be helping other companies and governments do the same.

Sheryl Telford Appointed Chief Sustainability Officer

Chemours today announces the appointment of Sheryl Telford to the newly created position of Chief Sustainability Officer. "Sheryl has been central to Chemours sustainability efforts and I am delighted to have her in the Chief Sustainability Officer role. She will lead our efforts to embed sustainability into every aspect of how we operate, making it an integral part of the Chemours culture," Vergnano said.

A respected and trusted industry expert, Telford has more than three decades of experience in the environmental, safety and health fields in the government, utility and chemistry sectors. She joined Chemours upon its creation in 2015 as Director, EHS and Remediation before being named vice president, environment, health, safety and corporate responsibility in 2018.   

In her new role, Telford will also play a central role in establishing strategic collaborations and partnerships with external experts, companies, industries and organizations to advance Chemours sustainability efforts and advocate for sustainable, science-based policy and regulation.

About The Chemours Company

The Chemours Company (Chemours or the Company) (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, mining and oil and gas.  Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Nafion™, Krytox™, Teflon™, and Viton™. In 2019, Chemours was named to Newsweek's list of America's Most Responsible Companies. The company has approximately 6,500 employees and 30 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn. 

Forward-Looking Statements 

This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is unknown and to date has included extreme volatility in financial and commodity markets, a significant slowdown in economic activity, and increased predictions of a global recession. The public and private sector response has led to significant restrictions on travel, temporary business closures, quarantines, stock market volatility, and a general reduction in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to limit travel of employees to our business units domestically and internationally, adversely affect the health and welfare of our personnel, significantly reduce the demand for our products, hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2020. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

CONTACT:

INVESTORS
Jonathan Lock 
VP, Corporate Development and Investor Relations
+1.302.773.2263 
investor@chemours.com 

NEWS MEDIA 
Thomas Sueta
Director, Corporate Communications
+1.302.773.3903
media@chemours.com  

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/chemours-announces-ambitious-net-zero-greenhouse-gas-emissions-goal-301269525.html

SOURCE The Chemours Company

FAQ

What is Chemours' goal regarding greenhouse gas emissions for 2050?

Chemours has set an ambitious goal to achieve net zero greenhouse gas emissions by 2050.

What reduction in emissions is Chemours targeting by 2030?

Chemours aims for a 60% absolute reduction of operations-related greenhouse gas emissions by 2030.

Who has been appointed as Chief Sustainability Officer at Chemours?

Sheryl Telford has been appointed as Chief Sustainability Officer to lead Chemours' sustainability efforts.

What strategies will Chemours use to reduce Scope 1 and Scope 2 emissions?

Chemours will enhance emissions control technologies and improve energy efficiency while increasing renewable energy sources.

Will Chemours set goals for Scope 3 emissions?

Yes, Chemours is in the process of defining goals related to indirect emissions from its value chain (Scope 3) which will be announced in the future.