Orion Announces Ambition to Achieve Net-Zero Carbon Emissions by 2050
25 April 2022 - 10:35PM
Business Wire
Orion Engineered Carbons (NYSE: OEC), a specialty chemicals
company, announced today it aspires to align its sustainability
objectives with the Paris Climate Agreement and strive to achieve
net-zero emissions of greenhouse gases by 2050.
To make its net-zero aspirations realistic, Orion developed a
roadmap with near- and long-term targets. The company aspires
to:
- Launch a broad range of products using recycled materials by
2025 and during the same period position the company to enlarge its
footprint in the conductive additives space, such as in lithium-ion
batteries for electric vehicles and other applications critical for
the transition toward electric power.
- Generate 30% of its adjusted EBITDA through sustainable
solutions by 2030.
- Grow the sustainable solutions’ share of adjusted EBITDA to 50%
by 2035.
- Set new aspirational mid-term goals for greenhouse-gas
emissions reduction that are aligned with science-based
methodologies.
The net-zero ambition demonstrates Orion’s ongoing commitment to
address global climate change while meeting customers’ needs for
highly engineered materials essential for tires, coatings,
batteries and numerous other everyday products.
“We know our goal is ambitious and we want to make sure it’s
meaningful. Like most companies, we can’t say we have all the
answers now. But we’re determined to work hard to find sustainable
solutions with collaboration, innovation and the right regulatory
environment,” said Corning Painter, Orion’s CEO.
“Our ambition to align with the Paris Climate Agreement is a
natural progression in our sustainability journey. Investing in
sustainability is core to our growth strategy and key to our
success as a business,” Painter added.
For more information about OEC’s sustainability performance and
initiatives, visit Orion Engineered Carbons - Sustainability -
Sustainability Roadmap (orioncarbons.com).
About Orion Engineered Carbons
Orion Engineered Carbons (NYSE: OEC) is a leading global
supplier of carbon black, a solid form of carbon produced as powder
or pellets. The material is made to customers’ exacting
specifications for tires, coatings, ink, batteries, plastics and
numerous other specialty, high-performance applications. Carbon
black is used to tint, colorize, provide reinforcement, conduct
electricity, increase durability, and add UV protection. Orion has
innovation centers on three continents and 14 plants worldwide,
offering the most diverse variety of production processes in the
industry. The company’s corporate lineage goes back more than 160
years to Germany, where it operates the world’s longest-running
carbon black plant. Orion is a leading innovator, applying a deep
understanding of customers’ needs to deliver sustainable solutions.
For more information, please visit orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements are statements of future
expectations that are based on current expectations and assumptions
and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially
from those expressed or implied in these statements. You should not
place undue reliance on forward-looking statements. Each
forward-looking statement speaks only as of the date of the
particular statement. New risk factors and uncertainties emerge
from time to time and it is not possible to predict all risk
factors and uncertainties, nor can we assess the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. We undertake no obligation to publicly update or revise
any forward-looking statement as a result of new information,
future events or other information, other than as required by
applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220425005631/en/
Wendy Wilson Head of Investor Relations Orion Engineered Carbons
Mobile: +1 281-974-0155 wendy.wilson@orioncarbons.com
William Foreman Director of Corporate Communications and
Government Affairs Orion Engineered Carbons Mobile: +1 281-889-7833
william.foreman@orioncarbons.com
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