Company commits to six core water management
areas and annual reporting
CHARLOTTE, N.C., April 22,
2022 /PRNewswire/ -- Albemarle Corporation (NYSE:
ALB), a leader in the global specialty chemicals industry,
announced today that it has endorsed the United Nations (UN) Global
Compact CEO Water Mandate, a global initiative in partnership with
the Pacific Institute, that mobilizes business leaders to advance
water stewardship practices.
With Albemarle's endorsement,
the company commits to action and continuous improvement, over
time, across six key areas of focus in water management and to
report annually on progress through its CDP water disclosures and
UN Global Compact communication. The six core areas for continuous
improvement of water stewardship include direct operations, supply
chain and watershed management, collective action, public policy,
community engagement, and transparency.
"Efficient and responsible water use is a key component of our
sustainability strategy," said Albemarle CEO Kent Masters. "Albemarle is committed to responsible
management of our water resources and our sustainable business
practices align directly with our endorsement of the CEO Water
Mandate. Through this platform, we aim to proactively identify and
manage business risks, create efficiency in our water use, realize
cost savings through water use efficiency, and honor our
sustainability commitments."
In 2021, Albemarle announced
its goal to reduce the intensity of its freshwater use by 25% by
2030 in areas of high and extremely-high water risk, as defined by
the Water Resource Institute. In La Negra, Chile, Albemarle has invested $100 million in thermal evaporator recycling
technology to reduce fresh water use by 30% per kilogram of lithium
carbonate. In Jordan, Albemarle has developed process innovations to
expand production without increasing water intensity, including a
current project to convert a waste stream into saleable product
while reducing water and energy use.
Albemarle joins more than 200
global endorsing companies in the CEO Water Mandate platform. In
2021, Albemarle announced its
membership to the UN Global Compact, a voluntary leadership
platform for the development, implementation and disclosure of
responsible business practices, and the largest corporate
sustainability initiative in the world.
About Albemarle
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals
company with leading positions in lithium, bromine and catalysts.
We think beyond business as usual to power the potential of
companies in many of the world's largest and most critical
industries, such as energy, electronics, and transportation. We
actively pursue a sustainable approach to managing our diverse
global footprint of world-class resources. In conjunction with our
highly experienced and talented global teams, our deep-seated
values, and our collaborative customer relationships, we create
value-added and performance-based solutions that enable a safer and
more sustainable future.
We regularly post information to www.albemarle.com, including
notification of events, news, financial performance, investor
presentations and webcasts, non-GAAP reconciliations, SEC filings
and other information regarding our company, its businesses and the
markets it serves.
About the CEO Water Mandate
The CEO Water Mandate is
an initiative of the United Nations Global Compact in partnership
with the Pacific Institute, that mobilizes business leaders on
water, sanitation, and the Sustainable Development Goals for
corporate water stewardship. Endorsers of the Mandate commit to
continuous progress against six core elements (direct operations,
supply chain and watershed management, collective action, public
policy, community engagement and transparency) and in so doing
understand and manage their water risks. Established in 2007 the
Mandate was created out of the acknowledgement that global water
challenges create risk for a wide range of industry sectors, the
public sector, local communities and ecosystems alike. For more
information, follow @H2O_stewards on Twitter and visit our website
at ceowatermandate.org.
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SOURCE Albemarle Corporation