Trinseo Announces its 2030 Sustainability Goals
Fifteen sustainability goals outline the Company’s focus on climate change, product portfolio, supplier and operational responsibility, and a sustainable workforce
BERWYN, Pa. - Wednesday, July 1, 2020Trinseo (NYSE: TSE), a leading solution provider, today announced its 2030 Sustainability Goals. Reaching a milestone celebrating its 10th anniversary this year, Trinseo believes it is high time to embark on an ambitious, measurable, and achievable longer-term sustainability journey.
“We are proud to announce Trinseo’s Sustainability Goals for the next decade that will drive long-term, positive change for our organization, our customers, this generation, and the next,” said Frank Bozich, President and Chief Executive Officer, Trinseo. “Our commitment to sustainability is embedded into our company culture through our operations and our commitment to deliver innovative and sustainable technologies. By partnering with like-minded customers, suppliers and other stakeholders, we are creating sustainable changes.”
This ambitious plan includes 15 long-term goals under five main categories that target climate change, sustainable products, supplier responsibility, responsible operations, and sustainable workforce. These goals were created, in part, from a critical assessment of the Company’s capabilities as well as valuable feedback from customers and suppliers.
“Given the many challenges our industry and society face, we believe that we must strive to be a driver of sustainable solutions,” said Walter van het Hof, Global Industry Affairs & Sustainability Leader, Trinseo. “We have a responsibility as a company to contribute to making the world a better place, by solving significant problems with our technologies and promoting a culture that is true to our core values.”
Using inspiration from the United Nations Sustainable Development Goals (SDGs) and the Global Reporting Initiative (GRI) framework for sustainability reporting, Trinseo has committed to taking a deeper and more holistic look at its material topics and related impacts, based on the priorities of its stakeholders. Through that analysis, the Company is setting a foundation to drive meaningful change across all areas of business.
At a glance, the five main categories of the sustainability goals include:
- Climate Change
- By 2035, reduce 1 & 2 GHG emissions intensity by 35% Scope with progress milestones of 10% reduction by 2025 and 20% reduction by 2030.
- By 2030, increase the share of electricity from non-fossil sources from 5% to 30%.
- Sustainable Products
- By 2025, dedicate at least 30% of technology and innovation/R&D efforts toward circular economy solutions.
- By 2030, increase the share of sustainably advantaged products to 40%.
- Supplier Responsibility
- By 2025, implement a Sustainability/Corporate Social Responsibility (CSR) Due Diligence program for new key suppliers as an addition to the existing supplier on-boarding process.
- Responsible Operations
- By 2030, reduce fresh water intake by 20%, overall waste generation by 15% and waste disposal to landfill to zero.
- By 2030, all pellet-handling sites achieve zero pellet loss to the environment through Operation Clean Sweep.
- Sustainable Workforce
- Continuously meet societal expectations to live out our values of safety, respect for people, and employee engagement.
View all 15 Sustainability Goals at trinseo.com/sustainabilitygoals
Trinseo’s Sustainability program was recognized by Newsweek in its list of America’s Most Responsible Companies 2020 (ranked #5 in the Materials industry) as well as receiving positive ratings from EcoVadis and CDP (formerly known as the Carbon Disclosure Project).
About Trinseo
Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. Trinseo had approximately $3.0 billion in net sales in 2020, with 17 manufacturing sites around the world, and approximately 2,600 employees. For more information, please visit: www.trinseo.com.
Cautionary Note on Forward-Looking Statements
This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding the timing of the proposed acquisition of the Arkema MMA and PMMA business (the "Acquisition"); estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities and cost synergies relating to the Acquisition, our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to, our failure to complete the Acquisition or meet the conditions to closing, including antitrust, works council and other regulatory approvals; the failure to obtain the financing necessary to fund the Acquisition and the impact of the substantial indebtedness to be incurred; costs related to the Acquisition; following the Acquisition, our ability to successfully integrate the acquired businesses, generate expected cost savings and synergies, maintain relationships with customers, retain key employees and profitably grow the business; and those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Trinseo News
June 29 - June 29, 2021
Dr. Sven Thiele, Senior R&D Leader Process & Product Development at Trinseo, DKG Elastomer Symposium, Presentation at 9:15 CET
Location - Online Conference
Business alignment - Engineered Materials
