Cabot Corporation Details Sustainability Progress in 2023 Sustainability Report
27 Junho 2023 - 10:00AM
Business Wire
Furthers Sustainability Strategy with Enhanced
ESG Governance Structure
Cabot Corporation (NYSE: CBT) today published its 2023
Sustainability Report, highlighting the progress it has achieved on
its sustainability program and aspirations for the future. The
report outlines Cabot’s 2022 performance and advancements toward
its 2025 Sustainability Goals as well as its vision for creating a
more sustainable world. This report was developed with reference to
the Global Reporting Initiative (GRI) Standards and provides
information in support of Cabot's participation in the United
Nations Global Compact (UNCG).
Notable key achievements from the report include:
- Achieved nitrogen oxides (NOX) emissions goal to reduce NOX
intensity by 50% by investing in air pollution control technology
and energy recovery systems
- Exceeded the 2025 energy ratio target of 200% by achieving 214%
in 2022 through energy efficiency improvements and investing in
energy recovery systems
- Enabled the company’s energy customers to avoid approximately
497,000 MT of greenhouse gas (GHG) emissions by converting waste
heat into useful energy at 13 of its manufacturing facilities
across its global network
- Achieved waste reduction goal and decreased total waste
disposal by 57% from the 2019 baseline due to a reduction in
production of off-quality products, an increase in beneficial use
and reduction in waste generated
- Conducted a life cycle assessment for its engineered elastomer
composites (E2C®) solutions, which demonstrates that GHG emissions
are reduced by employing E2C solutions
- Secured 100% site participation in community engagement
activities across its global network
- The Cabot Corporation Foundation committed $250,000 of which
$180,000 has been donated to date to support Ukraine humanitarian
efforts
- Invested $319 million in 2022 which enabled the company to
exceed its 2025 goal to invest $1 billion in capital and
technology
“As we continued to navigate a challenging global environment,
the importance of our ‘Creating for Tomorrow’ strategy and focus on
sustainability has become even more prominent in our daily
activities,” said Sean Keohane, president and CEO. “I am proud of
the many accomplishments we have made throughout the past year
including the launch of our EVOLVE® Sustainable Solutions
technology platform as well as key investments made in furthering
our leadership position as a provider of crucial conductive
additives and other battery materials that are helping to enable
the transformational shift in mobility to electric vehicles. With
the dedication of our team, steadfast commitment to continuous
improvement and ability to leverage the power of innovative
chemistry, I am confident that we will continue to make a positive
impact in solving some of the world’s most pressing sustainability
challenges.”
Additionally, as part of its efforts to further advance its
sustainability strategy, Cabot enhanced its governance practices
for environmental, social and corporate governance (ESG) matters by
establishing a formal governance structure managed by an ESG
Steering Committee. Cabot believes this governance structure will
enable Cabot to continue to successfully implement its
sustainability strategy across the company, manage goal setting and
reporting processes, and strengthen relationships with key
stakeholders across its value chain as it progresses on its
sustainability journey. Furthermore, Cabot has formally integrated
its focus on sustainability into its updated Safety, Health,
Environment & Sustainability (SHE&S) Commitment which
reflects its collective efforts to help create a more sustainable
world while continuing to prioritize the safety and well-being of
its employees.
“Our new ESG governance structure helps advance our
sustainability agenda and will play a critical role in ensuring
that we are continuing to make the necessary progress to achieving
our longer-term sustainability goals, net zero ambition and vision
for enabling a more sustainable future,” said Martin O’Neill,
senior vice president and chief sustainability officer.
Cabot has received several accolades for its sustainability
efforts including a platinum rating from EcoVadis, the highest
recognition available, for the third consecutive year as well as
being named to “America’s Most Responsible Companies 2023” list by
Newsweek for the third consecutive year and named to Investor’s
Business Daily’s (IBD) “100 Best ESG Companies of 2022” list for
the second consecutive year. The company was also named one of
“America’s Greatest Workplaces for Diversity 2023” by Newsweek and
Plant-A Insights Group and named to European Rubber Journal’s “Top
10 Elastomers for Sustainability” for its EVOLVE Sustainable
Solutions as well as E2C solutions for the third time.
For more information about Cabot’s sustainability progress and
to view the full 2023 Sustainability Report, visit
cabotcorp.com/sustainability.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals
and performance materials company headquartered in Boston,
Massachusetts. The company is a leading provider of reinforcing
carbons, specialty carbons, battery materials, engineered elastomer
composites, inkjet colorants, masterbatches and conductive
compounds, fumed metal oxides and aerogel. For more information on
Cabot, please visit the company’s website at cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: Statements in the press release regarding
Cabot's business that are not historical facts are forward looking
statements that involve risks and uncertainties. For a discussion
of such risks and uncertainties, which could cause actual results
to differ from those contained in the forward looking statements,
see "Risk Factors" in the Company's Annual Report on Form 10-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20230627483576/en/
Emily Moran Corporate Communications emily.moran@cabotcorp.com
(617) 460-4517
Steve Delahunt Investor Relations steve.delahunt@cabotcorp.com
(617) 342-6255
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