CONSHOHOCKEN, PA — Quaker Houghton (NYSE: KWR), the global leader in industrial process fluids, this week announced goals for its global sustainability program. The announcement builds on the Company’s earlier commitment to achieve carbon neutrality by 2030 and net zero emissions across its entire value chain by 2050. The full list of 2030 goals announced this week reach beyond the critical issue of climate change to complete Quaker Houghton’s comprehensive sustainability strategy.
“These commitments demonstrate Quaker Houghton’s dedication to driving innovation and delivering a sustainable future for the public, our customers, and our business,” said Michael F. Barry, Chairman, Chief Executive Officer and President. Mr. Barry continued, “We have an opportunity to create meaningful progress that benefits future generations and helps our customers keep pace with the demands of a changing world. I am extremely proud of our global team and the goals we have set forth [this week].”
The new 15 long-term goals are based on the results of the Company’s 2020 materiality assessment, which was completed with input from customers, investors, suppliers, and internal stakeholders. The targets also align with the United Nations Sustainable Development Goals.
The Company’s goals are grouped under four pillars as part of a refreshed sustainability strategy and vision, announced earlier in its 2020 Sustainability Report. By 2030, Quaker Houghton aspires to:
Innovating Together for a Better Tomorrow
- Achieve 100% of finished goods in Quaker Houghton’s portfolio not classified as carcinogenic, mutagenic, or reprotoxic (CMRs)
- Reduce the Company’s use of fossil-based raw materials by 30%
- Eliminate 45,000 metric tons of waste at QH FLUIDCARE™ partner locations
Protecting Our Planet
- Achieve carbon neutrality in its global operations
- Set science-based targets1 to achieve net-zero greenhouse gas emissions across its value chain by 2050
- Reduce waste to landfill, hazardous waste, and water per ton produced by 20% each
Empowering Our Colleagues & Communities
- Have zero serious injury recordables
- Achieve zero recordable incidents with more than 5 lost workdays at 98% of Quaker Houghton and customer locations
- Achieve engagement scores greater than the Company’s industry peers
- Provide career enhancement programming to 100% of its colleagues
- Increase female representation globally and in management to 25-27%
- Increase ethnic diversity in the U.S. to 25-27%
- Work together to reach 250,000 cumulative hours of volunteering
- Invest time and resources to conduct impactful projects in all of the communities where Quaker Houghton manufactures, works, and conducts research around the globe
Sourcing Our Materials Responsibly
- Achieve 75% of total direct spend with suppliers that exceed Quaker Houghton’s sustainability performance threshold
While the full set of goals announced this week completes the Company’s holistic sustainability program, Quaker Houghton has also identified short-term milestones that it will reach to help accelerate the achievement of its 2030 targets. These milestones and more information can be found at quakerhoughton.com/sustainability. The Company will also disclose progress updates in its annual sustainability report.
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