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Chemours Details Progress in its Fifth Corporate Responsibility Commitment Report
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The Chemours Company (NYSE: CC) has released its fifth annual Corporate Responsibility Commitment (CRC) Report, highlighting its progress in sustainability and environmental leadership. Key achievements include a 40% reduction in air and water emissions since 2018, 47.2% of revenue derived from products supporting UN Sustainable Development Goals, and completion of supplier assessments for 81% of the supply chain. Chemours is committed to achieving gender and ethnic diversity within its workforce and is pursuing science-based targets for climate action. The report underscores the company’s dedication to responsible chemistry and innovation.
Positive
40% reduction in air and water emissions since 2018.
47.2% of total 2021 revenue linked to UN Sustainable Development Goals.
Achieved supplier responsibility evaluations for 81% of suppliers.
Joined U.S. Department of Energy Better Climate Challenge, targeting a 17% energy intensity reduction and 50% GHG emissions cut in 10 years.
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Report showcases Chemours’ global commitment to environmental leadership, sustainable innovation, and communities
WILMINGTON, Del.--(BUSINESS WIRE)--
The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced the fifth edition of its annual Corporate Responsibility Commitment (CRC) Report, inclusive of updates on the company’s ESG targets. The report showcases the company’s collective determination and commitment to making chemistry as responsible as it is essential while delivering tremendous progress to meet its goals.
Select report highlights from the company’s 2021 operations include:
Made substantial progress toward achieving the company's goal to reduce air and water process emissions of fluorinated organic compounds by 99% or more by 2030, reaching a 40% global reduction since 2018.
Generated 47.2% of total 2021 revenue from offerings that make a specific contribution to the United Nation’s Sustainable Development Goals (UN SDGs).
Achieved the company’s sustainable supply chain goal, completing supplier corporate responsibility assessment evaluations for 81% of suppliers by spend, with 15% of suppliers improving their sustainability performance.
Furthered our commitment to energy and emissions reductions, joining the U.S. Department of Energy Better Climate Challenge with a commitment to reduce energy intensity by 17% and reduce GHG emissions by 50% within 10 years.
Reached the 30% milestone on the way to investing $50 million in our communities and launched a new global school partnership program, ChemFEST, to nurture the next generation of STEM professionals.
Refocused our gender parity goal, dedicating ourselves to filling 50% of all director-level positions and above with women by 2030 on our journey to achieving gender parity. For 2021, we’ve filled 33% of director level and above positions and 23% of all positions with women.
Exceeded the 20% goal to fill all U.S. positions with ethnically diverse employees and set a new, more ambitious goal of filling 30% of all U.S. positions with ethnically diverse talent.
Made exciting progress in the first year of the Remove2Reclaim research project, which is developing a more sustainable process for recovering titanium dioxide and polymers from end-use plastic to help crack the code on effective plastic recycling.
Based on Chemours’ 2021 actions and accomplishments, the report is entitled “Chemistry for a Better World.” It highlights how the company’s 6,400 employees acted with courage and agility, in cooperation with partners around the globe, to respond to the year’s challenges and strengthen our businesses while making a meaningful impact on the planet.
“The world increasingly expects companies to provide essential products responsibly. At Chemours, we share those expectations, which is why sustainability, and our commitments to it, are embedded in everything we do,” said Mark Newman, President and CEO of Chemours. “I’m proud of our team's progress and how we continue to demonstrate that our innovative products are vital to advancing the next generation of sustainable industries, from clean hydrogen energy to semiconductor chips to climate-friendly thermal solutions and much more.”
In addition to releasing its 2021 CRC Report, Chemours recently announced it is pursuing official science-based targets through the Science-Based Target initiative (SBTi), strengthening its ambitious climate goals.
“Sustainability at Chemours is an ethos practiced by all of our 6,400 collective entrepreneurs. We fully embrace the bold innovation, collaboration, and action needed today to solve some of the world’s greatest challenges,” said Sheryl Telford, Chief Sustainability Officer. “Sustainability is part of our DNA, and we’ll continue to push ourselves to do better and be better in everything that we do for the benefit of the environment and our global community.”
Click here to read Chemours’ 2021 Corporate Responsibility Commitment Report.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials 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, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
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 still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel 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 Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
NEWS MEDIA
Cassie Olszewski Media Relations and Financial Communications Manager
+1.302.219.7140
media@chemours.com
Source: The Chemours Company
FAQ
What are the key highlights of Chemours' 2021 Corporate Responsibility Commitment Report?
Chemours reported a 40% reduction in emissions, 47.2% of revenue from sustainable products, and completed supplier assessments for 81% of its supply chain.
How is Chemours addressing sustainability in its operations?
Chemours aims for a 99% reduction in emissions by 2030 and has joined the Better Climate Challenge to cut energy intensity and GHG emissions.
What goals has Chemours set for workforce diversity by 2030?
Chemours aims to fill 50% of director-level positions with women and 30% of U.S. positions with ethnically diverse employees.
Which global initiatives does Chemours contribute to through its products?
Chemours generates 47.2% of its revenue from products that support the United Nations Sustainable Development Goals.
What is the significance of Chemours' Remove2Reclaim research project?
The Remove2Reclaim project aims to develop sustainable processes for recovering materials from end-use plastics to enhance recycling efforts.
