Innospec Publishes 2022 ESG Report

Rhea-AI Summary

Innospec (NASDAQ: IOSP) publishes its 2022 ESG Report, highlighting a reduction in GHG emissions by 46% and water usage by 53%. Renewable energy accounts for 20% of total energy mix. Awarded 3rd consecutive EcoVadis Gold medal for sustainability performance. $1.2 million raised through charitable programs. Continued investment in infrastructure and facilities. $38 million spent on Research and Technology in 2022.

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• Reduction in GHG emissions by 46% and water usage by 53%. Renewable energy accounts for 20% of total energy mix. Awarded 3rd consecutive EcoVadis Gold medal for sustainability performance. Continued investment in infrastructure and facilities. $38 million spent on Research and Technology in 2022.

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ENGLEWOOD, Colo., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Innospec (NASDAQ: IOSP) today announced the publication of its 2022 ESG Report. The report provides an overview of the company’s progress and ongoing commitment to ESG and sustainability.

Key highlights from 2022 include:

• Reduction in operational Greenhouse Gas emissions by 46% and water usage by 53% since our 2006 baseline year.
• Renewable energy accounts for 20% of our total energy mix.
• Achieved leadership score for CDP climate governance, risk management processes and emission reduction categories.
• Awarded 3^rd consecutive EcoVadis Gold medal for our sustainability performance and management.
• $695,000 total social value delivered in 2022 helping to support 160 worldwide charities and good causes local to our operations.
• $195,000 raised though our Innospec Cares global charitable giving and employee volunteering program, bringing the total raised since its 2016 launch to over $1.2 million.
• $315,000 raised for PenFed Foundation’s Military Heroes program during our annual Fuel Specialties and Oilfield Services charity golf tournaments. This brings the total raised since the partnership began in 2007 to over $1.8 million.
• Over 4,800 compliance training and certification courses delivered to our employees.
• Continued investment in infrastructure and facilities including a new Fuels Technology Center in Ellesmere Port, UK and increased production capacity for our industry-leading mild and natural surfactants at our Salisbury, US manufacturing facility.
• Over $38 million spent on Research and Technology in 2022 helping to develop high-performance, sustainable solutions for our customers.
• Independent assurance of the report and our sustainability program to the globally recognized AA1000 Assurance standard 2008:2018 Addendum.
  

Patrick S. Williams, President and Chief Executive Officer, said, “We are pleased to present our 24^th consecutive ESG Report which highlights our 2022 performance and approach to ESG. Our ESG strategy is ultimately delivered by our people which is reflected in this year’s report. We have continued to support our customers through our ongoing investments and commitment to innovative products and global sustainability, while further strengthening our ESG performance”.

To learn more about Innospec’s approach to ESG and sustainability, please read the 2022 Innospec ESG Report by visiting https://innospecsustainability.com/.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2,100 employees in 22 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 Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. 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.

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,” “could,” “believes,” “feels,” “plans,” “intends” 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, 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, 2022, Innospec’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 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:

Corbin Barnes

Innospec Inc.

+44-151-355-3611

corbin.barnes@innospecinc.com