Trinseo Showcases Dedication to Climate Change Goals in 14th Annual Sustainability & CSR Report

Rhea-AI Summary

Trinseo (NYSE: TSE), a specialty material solutions provider, released its 2024 Sustainability & Corporate Social Responsibility Report. Key 2023 data includes a 23% decrease in greenhouse gas (GHG) emissions, marking a 51% reduction since 2017. GHG emissions intensity dropped by 11%, totaling a 21% reduction since 2017. Renewable energy use increased by 5%, with 18% of consumed electricity sourced from biomass, wind, solar, and hydroelectric power.

Trinseo aims to become a leader in sustainable specialty materials, focusing on decarbonization and renewable energy. The company conducted energy assessments at various global facilities to identify sites for renewable energy supply. A Scope 3 Council was established to manage and verify Scope 3 GHG emissions.

Additional highlights include advancing recycling technologies with a polycarbonate dissolution facility in the Netherlands and a polymethyl methacrylate depolymerization facility in Italy. Trinseo also expanded its 2030 Sustainable Workforce Goals to promote inclusivity, talent development, and safety.

KEY 2023 SUSTAINABILITY DATA:

• Greenhouse gas (GHG) emissions decreased by 23%, resulting in a 51% reduction since 2017 base year

• GHG emissions intensity decreased by 11%, with a total reduction of 21% since 2017 base year

• Renewable energy increased by 5%, with 18% of the electricity consumed by Trinseo coming from biomass, wind, solar, and hydroelectric sources

Representing changes from 2022 to 2023

WAYNE, Pa.--(BUSINESS WIRE)-- Trinseo (NYSE: TSE), a specialty material solutions provider, announced today the release of its 2024 Sustainability & Corporate Social Responsibility Report.

Trinseo Sustainability Report (Photo: Business Wire)

“We remain focused on becoming a specialty material solutions provider that prioritizes sustainability and innovation,” said Frank Bozich, President and Chief Executive Officer. “Chemical manufacturing is an ever-evolving landscape, and I am incredibly proud of the work we accomplished in 2023. I am confident that we are cultivating a sustainable future here at Trinseo.”

Trinseo’s 2030 Sustainability Goals drive its sustainability initiatives, and in 2023, the Company made significant strides toward its Climate Change goals. Guided by the Company’s decarbonization strategy, Trinseo is focused on developing the resources to achieve carbon excellence, evaluating renewable energy options, and implementing clean power electrification to support a long-term impact. Aligned with the Company’s goals of reducing its Scope 1 and 2 GHG emissions, Trinseo conducted energy assessments at many of its global facilities, which will be used to identify potential sites for physical renewable energy supply.

Advancing Trinseo’s Scope 3 GHG emissions management goal also remains a priority. As part of this initiative, a Scope 3 Council was established to oversee the Company’s Scope 3 GHG Emission Inventory calculations. This Council aims to deliver a comprehensive and accurate understanding of Trinseo’s footprint, with the goal of assuring the Scope 3 inventory results through a third party.

“Sustainability is the backbone of our strategy at Trinseo and a key pillar of our future,” said Francesca Reverberi, Senior Vice President of Engineered Materials and Chief Sustainability Officer. “From the Board down, everyone remains engaged in our efforts to create a sustainable workforce, reduce our carbon footprint, build a circular value chain, and operate responsibly.”

Additional highlights from the Company’s 14th annual Sustainability Report include:

• Advancing Recycling Technologies: Trinseo launched a pilot facility for polycarbonate dissolution at its site in Terneuzen, The Netherlands, as well as broke ground on a polymethyl methacrylate depolymerization facility in Rho, Italy. These recycling technology advancements complement existing methodologies and could help make these materials more circular.

• Enhancing the Sustainable Workforce Goals: The Company’s 2030 Sustainable Workforce Goals were expanded to help the Company achieve a more inclusive workforce that prioritizes talent development and safety. These aspirational goals provide a future vision to guide recruiting, developing and retaining an inclusive workforce.

Trinseo’s 2023 Sustainability Report was prepared with reference to the Global Reporting Initiative (GRI) 2021 Universal Standards, and it incorporates the Sustainability Accounting Standards Board (SASB) framework. To complement the Sustainability Report, Trinseo also published a Core Impact Report that provides a holistic view of how the Company defines, creates, and disperses value over time.

For more information about how Trinseo is cultivating a circular transformation, visit Trinseo.com/Sustainability.

About Trinseo

Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.

From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers’ unique challenges in a wide range of industries, including building and construction, consumer goods, medical and mobility.

Trinseo’s approximately 3,100 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company’s locations in North America, Europe and Asia Pacific. Trinseo reported net sales of approximately $3.7 billion in 2023. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, X, Facebook and WeChat.

Cautionary Note on Forward-Looking Statements

This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, forecasts, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like “expect,” “anticipate,” “believe,” “intend,” “forecast,” “outlook,” “will,” “may,” “might,” “see,” “tend,” “assume,” “potential,” “likely,” “target,” “plan,” “contemplate,” “seek,” “attempt,” “should,” “could,” “would” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy, our current indebtedness, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, our ability to successfully implement proposed restructuring initiatives and to successfully generate cost savings through restructuring and cost reduction initiatives; our ability to successfully execute our business and transformation strategy; increased costs or disruption in the supply of raw materials; deterioration of our credit profile limiting our access to commercial credit; increased energy costs; compliance with laws and regulations impacting our business; any disruptions in production at our chemical manufacturing facilities, including those resulting from accidental spills or discharges; conditions in the global economy and capital markets; our current and future levels of indebtedness and ability to service our debt; our ability to meet the covenants under our existing indebtedness; our ability to generate cash flows from operations; and those discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results, performance, or achievements may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701307446/en/

Andy Myers

Tel: +1 610-240-3221

Email: aemyers@trinseo.com

Source: Trinseo

FAQ

What are the key sustainability achievements of Trinseo for 2023?

Trinseo achieved a 23% decrease in greenhouse gas emissions, increased renewable energy use by 5%, and launched new recycling technologies.

How much has Trinseo reduced its GHG emissions since 2017?

Trinseo has reduced its greenhouse gas emissions by 51% since the 2017 base year.

What renewable energy sources does Trinseo use?

Trinseo uses biomass, wind, solar, and hydroelectric sources, which now account for 18% of its consumed electricity.

What new recycling technologies did Trinseo introduce?

Trinseo launched a pilot polycarbonate dissolution facility in the Netherlands and began construction on a polymethyl methacrylate depolymerization facility in Italy.

What are Trinseo's 2030 Sustainable Workforce Goals?

Trinseo's 2030 Sustainable Workforce Goals aim to create an inclusive workforce focused on talent development and safety.