ALBEMARLE 2021 SUSTAINABILITY REPORT highlights new and existing sustainability goals

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albemarle sustainability report

Albemarle Corporation releases its annual global Sustainability Report. Company is on track to meet or exceed initial sustainability targets for GHG emissions and freshwater intensity. New targets for Diversity, Equity and Inclusion (DE&I) are part of this year's report.

Today, Albemarle Corporation, a world leader in specialty chemicals, released its annual global Sustainability Report.

Fascinating Sustainability-Related Findings from the Year 2021 Report

Initial Life Cycle Assessments of Lithium Products Completed, Showing They Will Meet Existing GHG and Freshwater Intensity Targets, Updated Goals for DE&I (Diversity, Equity, and Inclusion) Webinar on Sustainability Set for June 28, 2022 at 9 AM EDT Albemarle's CEO, Kent Masters, believes the company plays a crucial role in the fight against climate change by facilitating the energy transition and supporting the steady, environmentally friendly growth of electrification and digitalization.

"Our long-term plan hinges on our commitment to sustainability. If you want to know how we're doing in adding value for all our stakeholders through sustainability, look no further than our Sustainability Report, which details our global progress, commitments, and successes from 2021."

On Course to Achieve Prevailing Goals Regarding Greenhouse Gas Emissions and Freshwater Reductions Albemarle began implementing its climate strategy last year, and the company is currently on track to meet or exceed its primary sustainability targets for GHG emissions and freshwater intensity. The report for this year details events that will occur in 2021, such as the purchase of renewable energy in the United States and the Netherlands and the completion of a thermal evaporator in Chile that cost $100 million. In addition, Albemarle hired PricewaterhouseCoopers LLP to provide independent assurance of scope 1 and 2 GHG data.

An Overview of Scope 3 GHG Emissions and Finished Life Cycle Assessments This year's report marks Albemarle's first attempt at quantifying the greenhouse gas emissions associated with scope 3 activities like procurement, product processing, consumer use, and product disposal. The company plans to use the results of its initial assessment to collaborate with its customers and suppliers in an effort to reduce emissions throughout the supply chain, and it plans to continue refining its methodology in subsequent years.

In addition, the first LCAs for both rock-based lithium hydroxide and brine-based lithium carbonate by Albemarle are described in detail in the report. Both investigations were conducted in accordance with the requirements of ISO 14040 and 14044. Albemarle also wants to learn more about its suppliers' effects on the environment, so it will incorporate LCA requests into its sustainable procurement process.

Goals for Development and Investment The company published its DE&I strategic plan in 2021, outlining concrete steps to incorporate DE&I into decision-making, boost organizational efficacy, and prepare for emerging opportunities and threats. Albemarle has committed to increasing its manufacturing workforce's gender diversity by 1% annually by 2022, and its management workforce's racial diversity by 1% annually in the United States. The company's long-term objective is to meet or exceed global manufacturing benchmarks, so it plans to increase diversity steadily and consistently.

Sustainability Webinar by Albemarle On Tuesday, June 28 at 9 a.m. EDT, CEO Kent Masters, CFO Scott Tozier, VP of Government and Community Affairs Ellen Lenny-Pessagno, VP of Investor Relations and Sustainability Meredith Bandy, and VP of Culture Timitra Hildebrand-Jones will host a webcast to discuss the company's sustainability efforts to date.

You can sign up to watch the webcast at this link. Once a user has registered, they will receive an email with a link to the webcast. After the event is over, a recording of the webcast will be made available for viewing on the company's website.

For more information, please see Albemarle's 2021 Sustainability Report.

Source: ALBEMARLE News

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