DyStar's 2022-2023 Integrated Sustainability Report

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by KnowESG
KnowESG_DyStar's 2022-2023 Integrated Sustainability Report
Image courtesy of DyStar

DyStar, a distinguished speciality chemical enterprise with a legacy spanning over a century of pioneering product development and innovation, is delighted to unveil its thirteenth annual Integrated Sustainability Report.

This comprehensive dossier adheres to the updated GRI Standards 2021: Core Options. Despite the formidable challenges posed by the business landscape and economic circumstances, DyStar remains resolute in delivering tangible value forged through the prism of the six pivotal capitals harnessed via the Integrated Reporting (IR) framework.

Mr. Xu Yalin, the Managing Director and President of DyStar Group, remarked, "The report eloquently underscores DyStar's steadfast commitment to sustainability, reaffirming its dual role as both a manufacturer and supplier of pioneering solutions in this realm.

"DyStar's value-creation paradigm will persistently underpin our stakeholders, encompassing brands, retailers, direct clients, and producers, as they pursue sustainable, high-quality products that conserve precious resources and adhere to climate impact standards."

DyStar's business strategies have substantiated their efficacy by accomplishing substantial progress toward their 2025 targets. As a preeminent global manufacturer and supplier, the company has successfully achieved a reduction of over 30% in its environmental footprint pertaining to Greenhouse Gas Emission intensity and Wastewater production intensity, measured against the baseline year of 2011.

To elucidate further, DyStar's Greenhouse Gas (GHG) Emission intensity for both Scope 1 and Scope 2 demonstrated a remarkable 45% decrease (measured in tCO2e per tonne of production) in comparison to the baseline of 2011, culminating in a cumulative GHG emission of 56.91 thousand tCO2e. This also marks a 9% reduction in contrast to FY2021.

In parallel, DyStar accomplished an impressive 52% decrease in Wastewater production intensity in comparison to the baseline of 2011, with a concurrent 24% reduction from FY2021.

Additional noteworthy accomplishments and value augmentations include (in comparison to FY2021):

  • Financial Capital: The fruition of endeavours to enhance production efficiency and streamline manufacturing led to an indirect reduction of 5.8% in operating costs.

  • Manufactured Capital: DyStar's meticulous approach to securing high-quality suppliers, coupled with its conscientious commitment to environmental performance and climate impact alongside the Institute of Public & Environmental Affairs (IPE), earned the company the prestigious second rank within the industry on IPE's Green Supply Chain Corporate Information Transparency Index (CITI).

  • Intellectual Capital: DyStar's groundbreaking Cadira® modules persist in supporting the supply chain by substantially lowering its carbon footprint.

  • Human Capital: The full-fledged launch of DyStar University (DSU), an in-house Learning Management System (LMS), ardently supports the continual learning and development of the company's global workforce.

  • Social Capital: DyStar's culturally diverse employee base orchestrated a plethora of activities and events to contribute to the global community, amassing a total donation of USD 128,946 for various corporate social responsibility (CSR) initiatives.

These figures unequivocally underscore the efficacy of DyStar's initiatives implemented throughout the reporting year, even in the face of challenging economic headwinds.

DyStar maintains a balanced stance, cautiously optimistic about its global performance. As it confronts the hurdles on the horizon, DyStar remains steadfast in its belief that cultivating resilience is pivotal to navigating the impending turbulence successfully.

This report serves as a conduit to communicate DyStar's advancements in its sustainability agenda and critical focus areas. In harmony with the Group's pledge to environmental sustainability, only an e-magazine and a downloadable PDF version of the report will be accessible for download from the dedicated webpage at www.DyStar.com/sustainability-reports/.

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Source: DyStar

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