Innospec Publishes 2019 Responsible Business Report

Rhea-AI Summary

Innospec (NASDAQ: IOSP) released its 2019 Responsible Business Report, detailing significant commitments to sustainability and corporate responsibility. Highlights include a 5% reduction in GHG emissions, receiving an EcoVadis Gold Medal for sustainability, and raising over $517,000 for charities. The report also notes employee engagement through compliance training and investments in research to meet sustainable product demands. CEO Patrick S. Williams emphasized the company's dedication to innovative technologies and improved environmental outcomes.

Positive

• 5% reduction in absolute GHG emissions compared to 2018.
• Awarded EcoVadis Gold Medal for sustainability performance.
• Over $517,000 raised to support 136 charities through the Innospec Cares program.
• Investment in new Research & Technology facilities to meet customer demand for sustainable products.

Negative

• None.

ENGLEWOOD, Colo., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Innospec (NASDAQ: IOSP) today announced the publication of its 2019 Responsible Business Report. The report provides an overview of the company’s progress and on-going commitment to corporate responsibility and sustainability.

Key highlights from 2019 include:

• Continued focus on the reduction of Greenhouse Gas (GHG) emissions, energy and water usage, including a 5 percent reduction in absolute GHG emissions compared to 2018;
• EcoVadis Gold Medal awarded for Innospec’s sustainability performance across environment, labor and fair business practices;
• Over US$517,000 raised to support 136 worldwide charities and good causes local to our operations through our Innospec Cares program and the expansion to include employee-volunteering days;
• Over US$1 million raised for the PenFed Foundation Military Heroes Fund since partnering in 2007;
• 2,100 employees and contractors taking part in the Innospec online compliance training and certification program;
• The provision of safe sustainable products designed to meet the needs of society, while minimizing their environmental impact in manufacture and use;
• Investment in new Research & Technology facilitates to support increased customer demand for sustainable products at our Castiglione, Italy, Ellesmere Port, UK and Houston, TX, and Salisbury, NC, US sites and
• Independent assurance of the report to the globally recognised AA1000 Assurance standard 2008 and for the first time the 2018 Addendum

Patrick S. Williams, President and Chief Executive Officer, said, “We are pleased to present our twenty-first Responsible Business Report which highlights our 2019 performance and our approach to running a responsible business. I am very proud to lead a company with a strong focus on sustainability, diversity, wellbeing and governance. Our global team continues to deliver innovative new technologies while helping our customers create better products with improved environmental and social outcomes.”

To learn more about Innospec’s approach to corporate responsibility and sustainability, please read the 2019 Innospec Responsible Business Report by visiting https://innospecsustainability.com/.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2000 employees in 24 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.  The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry.  The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. Octane Additives produces octane improvers to enhance gasoline.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements.  Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “believes,” “feels,” “plan,” “intend” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future.  Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, including, the effects of the COVID-19 pandemic, such as its duration, its unknown long-term economic impact, measures taken by governmental authorities to address it and the manner in which the pandemic may precipitate or exacerbate other risks and/or uncertainties, and our actual performance or results may differ materially from these forward-looking statements.  Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2019, Innospec’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and other reports filed with the U.S. Securities and Exchange Commission.  You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports.  Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Brian Watt

Innospec Inc.

+44-151-355-3611

Brian.Watt@innospecinc.com

FAQ

What are the key highlights from Innospec's 2019 Responsible Business Report?

Key highlights include a 5% reduction in GHG emissions, an EcoVadis Gold Medal for sustainability, and over $517,000 raised for charities.

What sustainability efforts did Innospec achieve in 2019?

Innospec achieved a 5% reduction in GHG emissions and invested in research and technology for sustainable products.

How much did Innospec raise for charities in 2019?

Innospec raised over $517,000 for 136 charities through its Innospec Cares program.

What recognition did Innospec receive for its sustainability performance?

Innospec was awarded the EcoVadis Gold Medal for its sustainability performance across various criteria.