The Chemours Company - CC STOCK NEWS

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.

Chemours has released the seventh edition of its annual Sustainability Report, detailing progress on its 2030 Corporate Responsibility Commitment (CRC) goals. The report, titled 'Partnering for Progress,' highlights significant achievements in environmental stewardship, such as a 52% reduction in greenhouse gas emissions since 2018, aiming for a 60% reduction by 2030. The company also reported a 59% decrease in fluorinated organic chemical emissions and surpassed its Sustainable Supply Chain goal with 81% of suppliers assessed for sustainability performance.

Key initiatives include a $3 million investment in the Center for Clean Hydrogen and the expansion of the ChemFEST middle school STEM program in the U.S. and Belgium. Chemours has earned Great Place to Work® Certification in 15 global regions, covering over 92% of its workforce.

Chemours has announced the appointment of Shane Hostetter as its new Chief Financial Officer (CFO), effective July 1, 2024. Shane will oversee Finance, Investor Relations, Corporate Development, Strategy, and Enterprise Risk Management.

With over 20 years of experience in finance and a deep understanding of the chemicals industry, Shane previously served as CFO at Quaker Houghton, holding multiple senior positions including Vice President of Finance and Chief Accounting Officer. He is a Certified Public Accountant (CPA) and holds an MBA in Finance from Villanova University.

Matt Abbott, who served as Interim CFO since February 2024, will return to his role as SVP, Chief Enterprise Transformation Officer.

Chemours announced an update to its EVOLVE 2030 sustainability assessment methodology, now at Version 2.0. This update includes product and packaging circularity within its sustainability impact assessment framework. EVOLVE 2030 helps Chemours evaluate its product offerings and development pipeline in line with the United Nations Sustainable Development Goals (UN SDGs). The methodology aims to achieve Chemours' goal of generating 50% or more of its revenue from products that contribute to the UN SDGs by 2030. Established in 2019, in partnership with Anthesis Group and assured by Lloyd’s Register Quality Assurance, the methodology uses a Product—Application Combination (PAC) approach to assess the lifecycle impact of products on society and the environment.

Amid severe drought conditions in Mexico, The Chemours Company (CC) has temporarily paused Titanium Dioxide (TiO2) production at its Altamira, Mexico facility. This decision complies with a government request to minimize water intake, conserving water for local communities. Despite this, Chemours plans to maintain customer service through its other global assets. The company is collaborating with government, business, and community partners to find both short-term and long-term solutions but is currently unable to predict the duration of the production pause.

Chemours' Washington Works site has awarded scholarships to five local students as part of its Future of Chemistry Scholarship program. These scholarships aim to support students pursuing STEM (Science, Technology, Engineering, Mathematics) education. The initiative is part of Chemours' broader commitment to invest $50 million in safety, sustainability, and STEM education programs by 2030. The scholarships range from $7,000 to $10,000 per year and are renewable. The recipients will attend either West Virginia University - Parkersburg or Ohio University. Chemours also collaborates with local schools and organizations to promote STEM education and offers Co-Op opportunities for college students.

Chemours is actively involved in developing and diversifying the STEM workforce to meet the growing demand for STEM jobs in the United States. The company focuses on attracting early-career talent through internship programs and investments in STEM education, aiming to build a strong and diverse workforce. By emphasizing partnerships and scholarship programs, Chemours is committed to fostering a diverse talent pool in STEM fields.

Chemours' Earth Month efforts demonstrated the company's commitment to environmental sustainability with activities like habitat renewal, biodiversity fostering, and waste clean-up across various global sites. Employees participated in educational sessions, volunteer work, tree planting, trash collection, and habitat improvement, showcasing a dedication to environmental stewardship year-round.

The Chemours Company (NYSE: CC), a global chemistry company, announced the discontinuation of U.S. sales of Freon™ 404A and 507 in support of global environmental initiatives. The decision aligns with regulatory phasedowns of hydrofluorocarbons (HFCs) and will take effect on May 2, 2024. Chemours plans to facilitate the industry transition to lower GWP solutions while continuing to invest in research and development for next-generation refrigerants.