Chemours Reaches Important Milestone in Its Sustainability Journey; Receives Approval of Science-Based Emissions Reduction Targets
Chemours, a global chemistry company, has received approval from the Science Based Target initiative (SBTi) for its near-term science-based greenhouse gas (GHG) emissions reduction targets. The company aims to achieve an absolute 60% reduction in Scope 1 and 2 GHG emissions by 2030, along with a new goal to reduce Scope 3 emissions by 25% per ton of production by 2030. This approval is a significant milestone in Chemours' sustainability journey, reflecting its commitment to combating climate change through sustainable offerings and responsible manufacturing practices. According to Dr. Amber Wellman, Chief Sustainability Officer, this validation signifies that Chemours is on the right path. The company has already achieved a 52% reduction in Scope 1 and 2 emissions from its 2018 baseline, as detailed in its 2023 Sustainability Report.
- SBTi approval of Chemours' emissions reduction targets.
- 60% reduction target for Scope 1 and 2 GHG emissions by 2030.
- New target to reduce Scope 3 emissions by 25% per ton of production by 2030.
- Achieved a 52% reduction in Scope 1 and 2 emissions from the 2018 baseline.
- Commitment to sustainable offerings and responsible manufacturing practices.
- No specific mention of financial impact or cost savings from the emissions reduction targets.
- Potential high costs or investments required to meet the new emissions targets.
- Risk of not achieving the 2030 targets, which could impact company credibility.
The SBTi has approved Chemours’ near-term science-based emissions reduction targets
"Receiving approval for our near-term science-based emissions reduction targets from the SBTi marks a critical milestone in Chemours’ sustainability journey. We are committed to making a meaningful impact in the global fight against climate change, including through our sustainable offerings and responsible manufacturing practices,” said Dr. Amber Wellman, Chemours Chief Sustainability Officer. “Since Chemours established its Corporate Responsibility Commitment goals in 2018, we have strived for continued progress and improvement. This validation signals we are moving in the right direction, and we are proud to be a leader in our industry. Working together with our partners, we will continue to create a better world through the power of our chemistry.”
Chemours is among a small group of chemical companies to have their near-term emissions reduction targets approved by SBTi—a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. The initiative is a collaboration between the Carbon Disclosure Project (CDP), World Resources Institute (WRI), the World Wildlife Fund (WWF), and the United Nations Global Compact, which Chemours signed in 2018. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
This announcement follows the release of Chemours’ 2023 Sustainability Report, which details the Company’s action against its Corporate Responsibility Commitment goals. This year’s report, titled “Partnering for Progress,” demonstrates Chemours’ significant work towards reaching its Scope 1 and 2 targets by achieving a
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 are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The Company has approximately 6,200 employees and 28 manufacturing sites, and serves approximately 2,700 customers in approximately 110 countries. Chemours is headquartered in
For more information, we invite you to visit chemours.com or follow us on X (formerly Twitter) @Chemours or on 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, our near-term greenhouse gas emissions reduction targets, our commitments on climate change, and our progress against our Corporate Responsibility Commitment goals, 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, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions, geopolitical conditions and global health events and weather events, have affected or may affect 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 such as through strikes, labor disruptions or other events, 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20240611091668/en/
INVESTORS
Brandon Ontjes
Vice President, Investor Relations
+1.302.773.3300
investor@chemours.com
Kurt Bonner,
Manager, Investor Relations
+1.302.773.0026
investor@chemours.com
NEWS MEDIA
Cassie Olszewski
Corporate Media & Brand Reputation Leader
+1.302.219.7140
media@chemours.com
Source: The Chemours Company
FAQ
What are Chemours' new emissions reduction targets?
Who approved Chemours' emissions reduction targets?
What is the significance of Chemours' emissions targets approval?
What progress has Chemours made towards its emissions targets?
What is the timeline for Chemours' emissions reduction targets?
