Ingevity releases 2023 sustainability report, details commitment to actions and product innovations that enable a more sustainable world
Ingevity released its 2023 Sustainability Report, emphasizing its commitment to environmental, social, and governance sustainability initiatives. The report highlights that 92% of 2023 revenue was generated from products supporting the UN Sustainable Development Goals. Key achievements include ISCC+ Mass Balance accreditation in Warrington, UK, an EcoVadis Silver rating, and surpassing GHG intensity reduction goals ahead of schedule. Additionally, Ingevity contributed 4,200 volunteer hours and $1.6 million to local communities. The company appointed its first Chief Sustainability Officer to oversee its sustainability strategy. Future goals include achieving carbon neutrality by 2050 and maintaining top safety performance in manufacturing by 2028.
- 92% of 2023 revenue came from products supporting UN Sustainable Development Goals.
- Achieved ISCC+ Mass Balance accreditation for sustainable feedstocks in Warrington, UK.
- Earned an EcoVadis Silver rating, placing Ingevity in the top quartile of respondents.
- Surpassed GHG intensity reduction goals one year ahead of target.
- Contributed $1.6 million and 4,200 volunteer hours to local communities through IngeviCares.
- Appointed first Chief Sustainability Officer to enhance sustainability strategy.
- Committed to becoming carbon neutral for Scope 1 and Scope 2 GHG emissions by 2050.
- Aims to achieve top quartile safety performance in manufacturing by 2028.
- The report lacks specific financial figures or growth metrics, making it difficult to gauge overall financial health.
- No concrete data on how sustainability initiatives directly impact the bottom line or shareholder value.
- Long-term goals like carbon neutrality by 2050 may seem distant and lack immediate impact.
The company’s “catalyst for good” report provides information on 2023 activity, focusing on four sustainability catalysts for long-term value creation for customers, employees, communities and investors. The report details global environmental benefits realized through applications of Ingevity’s sustainable product portfolio, continued investment in local communities through philanthropy and volunteerism and company-wide efforts to support an inclusive culture and advance sustainability targets.
Highlights include:
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92% of 2023 revenue generated from products that contribute to the United Nations Sustainable Development Goals, aligning with Ingevity’s commitment as a participant with the United Nations Global Compact -
Achieved ISCC+ Mass Balance accreditation at the company’s
Warrington, UK , facility for the use of sustainable feedstocks to advance the transition to a circular economy - Recognized with an EcoVadis Silver rating for sustainability efforts, placing Ingevity in the top quartile of all responding companies
- Surpassed greenhouse gas (GHG) intensity reduction goals one year ahead of target in Performance Materials and Advanced Polymer Technologies manufacturing operations
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Contributed 4,200 volunteer hours and
$1.6 million
In 2023, Ingevity appointed the company’s first Chief Sustainability Officer responsible for overseeing the development and implementation of Ingevity’s sustainability and impact strategy, metrics and reporting, and integrating cross-departmental initiatives focused on helping customers advance toward sustainability targets.
“Sustainability is central to everything we do at Ingevity,” said Dr. Michael Tschantz, Ingevity chief sustainability officer and vice president, government relations. “It’s not only in our legacy, but also in our vision for the future as we continue to invest in research and development, manufacturing capabilities and new applications to deliver better and more sustainable solutions for today and for the future.”
Sustainability goals announced in 2023 include a commitment to becoming carbon neutral for Scope 1 and Scope 2 absolute GHG emissions from manufacturing operations by 2050, achieving American Chemistry Council’s top quartile in personal and process safety performance by 2028 and continuing to invest in the communities where the company operates through funding and volunteerism.
Separate Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) indices were published on Ingevity’s website in a companion document.
Ingevity’s 2023 report is governed by its material issues, stakeholder interests, business priorities and is reported with reference to the GRI Standards, core option, and aligned with the SASB standard for chemicals. The report, indices and further information on the company’s sustainability initiatives can be found here.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in three reporting segments: Performance Materials, which includes activated carbon; Advanced Polymer Technologies, which includes caprolactone polymers; and Performance Chemicals, which includes specialty chemicals and road technologies. Our products are used in a variety of demanding applications, including adhesives, agrochemicals, asphalt paving, certified biodegradable bioplastics, coatings, elastomers, lubricants, pavement markings, oil exploration and production and automotive components. Headquartered in
Forward-looking statements:
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “goal,” “outlook,” “believes,” “anticipates” or similar expressions. Forward-looking statements may include, without limitation, statements which relate to the purpose, ambitions, aims, commitments, targets, plans and objectives of Ingevity’s sustainability goals and anticipated product benefits and performance. Forward-looking statements are not representations or warranties or guarantees of future results. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, such factors described under Part I, Item 1A. Risk Factors in our most recent Annual Report on Form 10‑K, as well as in our other filings with the SEC. These forward-looking statements speak only to management’s beliefs as of the date this press release is first published. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240613003961/en/
Contact:
Caroline Monahan
843-740-2068
caroline.monahan@ingevity.com
Investors:
John E. Nypaver, Jr.
843-740-2002
investors@ingevity.com
Source: Ingevity Corporation
FAQ
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