WILMINGTON, DE — Ashland Inc. recently published its 2022 Environmental, Social and Governance (ESG) Report, outlining the company’s commitment to sustainability and social responsibility. The report sets the stage for Ashland’s upcoming Science-Based Targets, which align with the ambitious goals of the Paris Climate Accord to limit global temperature rise to 1.5°C above preindustrial levels.
The report details Ashland’s commitment to the Science Based Targets initiative (SBTi), a campaign backed by a global coalition of UN leaders, business organizations, and NGOs. Ashland is among more than 6,500 businesses that have pledged to reduce their emissions in line with climate science.
Ashland’s efforts are also in line with the United Nations Global Compact, the world’s largest corporate sustainability initiative. The company’s initiatives, as outlined in the 2022 ESG report, align with the UN’s Sustainable Development Goals (SDGs), supporting good environmental stewardship, social welfare and well-being, and governance and transparency.
The report highlights the significant strides Ashland has made in reducing its environmental impact. Between 2020 and 2022, the company reduced its greenhouse gas emissions intensity by 10.6 percent, water intensity by 14.7 percent, energy intensity by over three percent, and hazardous waste intensity by over one percent. These improvements were achieved through energy efficiency projects and more efficient operations.
Ashland is committed to sustainable sourcing, working closely with suppliers to understand the life-cycle impact of raw materials. The company places great emphasis on safe, sustainable manufacturing, and has strategies in place to further reduce its environmental footprint and increase renewable energy use in its facilities.
In terms of solutions, Ashland is putting ESG at the forefront, investing in sustainable sourcing for personal care, delivering durable water-based coatings, and providing next-generation life sciences technologies that help healthcare companies eradicate disease.
Ashland has also made strides in diversity and inclusion. In 2021, the company set long-term goals for building a diverse workforce and inclusive culture. The following year, a global committee was established to drive accountability and focus on initiatives that will build momentum towards the 2031 commitment.
The company’s philanthropic focus is on STEM (Science, Technology, Engineering, Mathematics) education, with regional programs tailored to the specific needs of local communities where the company operates.
Ashland’s commitment to transparency is evident in its continued reporting in line with the Global Reporting Initiative (GRI) and Sustainable Accounting Standards Board (SASB) standards for the chemical industry.
The company’s ESG strategy is strongly reflected in its innovation strategy, with several new technologies launched in 2022 in response to strong market demand for ESG-driven products.
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