VENATOR AUTOMATES PRODUCT CARBON FOOTPRINT WITH HELP FROM ATOS

Rhea-AI Summary

Venator (NYSE: VNTR) announced a partnership with Atos to measure its product carbon footprint, a key step in its sustainability efforts. Utilizing a specialized digital tool developed by BASF, Venator aims to provide carbon footprint data to customers, thus enhancing informed decision-making. This collaboration is part of a broader initiative that includes stakeholder engagement, comprehensive carbon footprint assessments, and alignment with GRI standards. Venator's commitment is underscored by signing the UN Global Compact and employing KPMG for its decarbonization strategy.

Positive

• Collaboration with Atos to measure carbon footprint supports sustainability goals.
• Utilization of BASF's digital tool enhances product carbon footprint assessment.
• Engagement with stakeholders to identify critical environmental issues for the business.
• Published a comprehensive Sustainability Report aligned with GRI standards.
• Signed the UN Global Compact, demonstrating commitment to global sustainability.
• Incorporated Scope 3 impacts into carbon footprint assessments.

Negative

• None.

New partnership supports Venator's sustainability ambition

WYNYARD, UK, Dec. 7, 2022 /PRNewswire/ -- Venator (NYSE: VNTR) today announced that it is working with Atos – a global leader in digital transformation – to measure the carbon footprint of its products. As Venator increases its focus on sustainability across its operations, this strategic project will enable the business to deliver data on the carbon footprint of its products to its customers and accelerate its sustainability ambitions.

Atos will help Venator gather key insights from its existing data that will enable enterprise-wide deployment of a specialist digital product carbon footprint (PCF) tool originally developed by BASF.

Rob Portsmouth, Senior Vice President, Sustainability at Venator, said: "We're acutely aware that what we do today will impact the world tomorrow. Working in a sustainable way is central to our business. We're proud of our progress but we know we can go further. Working with Atos to automate the carbon footprint calculation of our products is a big step forward. It will help Venator achieve our ambitions by identifying improvements needed to make our business and our product portfolio even more sustainable. Providing product carbon footprint data will also help our customers make more informed choices."

"Our collaboration has shown that Venator is in a very good position to build an automated PCF with their excellent data and ERP process foundation." said Stuart Lemmon, Head of Net Zero Transformation Practice, at Atos. "With this pilot project, Venator will be able to have a clear, transparent and comparable PCF for the products in scope. They will also be able to gain valuable insights into internal and external supply chain dependencies, supported by the graph visualization, which can help them in developing sustainability commitments which span the entire supply chain."

Venator's work with Atos is part of a wider corporate program on sustainability. Over the past year, Venator has:

• Liaised with its stakeholders to find out which environmental, social and governance issues matter most to them – pinpointing the highest-priority focus areas for its business
• Made a concerted effort to measure its full carbon footprint by incorporating Scope 3 impacts into its assessments
• Published its second Sustainability Report "Sustainability. It's our future." and aligned its reporting to GRI standards
• Signed the UN Global Compact
• Engaged KPMG to assist with the development of its decarbonization program.

The PCF calculation tool and methodology developed by BASF is based on Life Cycle Assessment methodology and calculates cradle-to-gate PCF. The methodology is based on ISO14067:2018 for the carbon footprint of products, which builds on the principles and requirements of the ISO standards 14040:2006 and 14044:2006.

About Venator

Venator is a global manufacturer and marketer of chemical products that comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life, and reduce energy consumption. We market our products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of our TiO₂ business, and Performance Additives, which consists of our functional additives, color pigments and timber treatment businesses. Based in Wynyard, U.K., Venator employs approximately 3,500 associates and sells its products in more than 110 countries.

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SOURCE Venator Materials PLC

FAQ

What is Venator's recent partnership for sustainability about?

Venator has partnered with Atos to automate the measurement of its product carbon footprint as part of its sustainability initiative.

What tool is Venator using to calculate its carbon footprint?

Venator is utilizing a carbon footprint calculation tool developed by BASF, based on Life Cycle Assessment methodology.

How does Venator's partnership with Atos benefit customers?

The partnership enables Venator to provide detailed carbon footprint data to customers, allowing for more informed product choices.

What sustainability initiatives has Venator undertaken recently?

Venator has engaged stakeholders, published a Sustainability Report, signed the UN Global Compact, and included Scope 3 impacts in its carbon assessments.

What is the purpose of Venator's sustainability efforts?

The purpose is to enhance the company's sustainability practices, reduce carbon emissions, and provide transparency to customers about product environmental impacts.