Orion Upgraded to “B” By Environmental Reporting Group CDP

Rhea-AI Summary

Orion Engineered Carbons (NYSE: OEC) announced a significant upgrade to a ‘B’ score from CDP, recognizing its effective environmental management and commitment to climate initiatives. This marks a progression from a previous ‘C’ score, indicating improved accountability. CEO Corning Painter emphasized the company's dedication to transparency in climate reporting. Earlier this year, Orion was also elevated from a ‘Silver’ to ‘Gold’ designation by EcoVadis, placing it in the top 3% of sustainability performers globally.

Positive

• Upgraded to a 'B' score by CDP, indicating improved environmental management.
• Recognition from EcoVadis, achieving 'Gold' status, ranking in the top 3% for sustainability.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, announced today it was upgraded to a “B” score by the nonprofit organization CDP, recognizing Orion has addressed the environmental impact of its businesses and ensures good environmental management.

The London-based CDP, formerly known as the “Carbon Disclosure Project,” operates a global system that enables companies to report their environmental impact. CDP assesses the information with its own methodology and provides a score. More than 18,700 companies worldwide reported data through CDP in 2022.

“Our ‘B’ score is the latest example of the tremendous progress we have made in recent years with sustainability,” Orion CEO Corning Painter said. “Accountability is one of Orion’s core values, so we are committed to reporting openly and transparently about our climate program – especially the CO₂ emissions reduction measures we have implemented and the success we’ve had protecting the environment and our communities.”

Since 2017, Orion has disclosed its climate-related performance through CDP and until now received a “C” score, indicating an awareness level of engagement. CDP says companies with a “B” score have reached the management level. They “have addressed the environmental impacts of their business and ensure good environmental management,” the organization says.

CDP says its “A” list is for companies that have advanced beyond awareness and management to become leaders on environmental transparency and action.

Earlier this year, Orion was upgraded from a “Silver” to a “Gold” designation by EcoVadis, an independent organization that assesses companies’ sustainability performance in the areas of environment, labor & human rights, ethics, sustainable procurement and overall sustainability governance. The score placed Orion in the top 3% of companies assessed by EcoVadis.

About Orion Engineered Carbons

Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 14 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.

Forward-Looking Statements

This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information, other than as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221214005982/en/

William Foreman

Director of Corporate Communications and Government Affairs

Orion Engineered Carbons

Direct: +1 832-445-3305

Mobile: +1 281-889-7833

william.foreman@orioncarbons.com



Wendy Wilson

Head of Investor Relations

Orion Engineered Carbons

Direct: +1 281-974-0155

wendy.wilson@orioncarbons.com

Source: Orion Engineered Carbons S.A.

FAQ

What does the recent CDP score upgrade mean for Orion Engineered Carbons (OEC)?

The upgrade to a 'B' score indicates that Orion has improved its environmental management and accountability, moving from a previous 'C' score.

When did Orion Engineered Carbons announce its CDP score upgrade?

Orion Engineered Carbons announced the CDP score upgrade on the date of the press release.

How does Orion's CDP rating compare to previous years?

Orion's CDP rating improved from a 'C' score to a 'B' score, showing significant progress in sustainability efforts.

What is the significance of the EcoVadis 'Gold' designation for Orion Engineered Carbons?

The 'Gold' designation from EcoVadis places Orion in the top 3% of companies for sustainability performance, reflecting its commitment to responsible business practices.

What is the ticker symbol for Orion Engineered Carbons?

The ticker symbol for Orion Engineered Carbons is OEC.