GLEN MILLS, Pa., Jan. 25, 2022 /PRNewswire/ -- Axalta (NYSE:
AXTA), a leading global supplier of liquid and powder coatings,
today announced its commitment to an absolute reduction of 50
percent of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030, on
its way to becoming carbon neutral in its operations by 2040 – one
decade ahead of the deadline set by the Paris Agreement on Climate
Change. In addition, the company has made 10 new sustainability
commitments for 2030. Key among these is the commitment to produce
sustainability benefits from 80 percent of Axalta's new product
developments.
"Today, we are coupling our commitment to technology,
innovation, and people first with our commitment to building a more
sustainable future," said Robert
Bryant, President and CEO of Axalta. "Our new goal to
achieve carbon neutrality by 2040 enables us to lead our industry
by example and to inspire our customers as we work to ensure the
long-term well-being of our planet, our partners, and our
business."
To set these goals, Axalta conducted a comprehensive
environmental, social, and governance (ESG) materiality assessment
with internal and external stakeholders, including customers,
suppliers, investors, board members, community and local government
leaders, and company executives.
Axalta also worked to align with the United Nations Sustainable
Development Goals in developing its ESG framework, structured under
three key pillars:
- Planet Solutions: Focused on ensuring a more sustainable
future for the planet, this first pillar includes a series of goals
aimed at improving the company's environmental performance and
reducing the impact of its global operations. In addition to the
carbon reduction targets, Axalta is taking steps to achieve a 10
percent reduction of VOC emissions, process waste, and water use
from operations by 2030.
- Business Solutions: This second pillar concentrates on
how Axalta's products, services, and technology can help customers
design and manufacture their finished products to help accelerate
their own sustainability initiatives and achievements. Axalta is
committing to deliver sustainability benefits from 80 percent of
its new technology and innovation developments by 2030 and
increasing, by at least 20 percent, the total percentage of net
sales derived from products, services, and tools that offer
sustainability benefits.
- People Solutions: Building on Axalta's corporate
culture, which is rooted in inclusivity, integrity, safety, and
engagement, this third pillar will ensure that the company
continues operating and fostering an environment where all our
people can thrive. The company is committing to creating a more
diverse and inclusive environment that results in increasing the
representation of women in management positions globally to at
least 30 percent by 2030. Axalta will continue to support its local
communities via its Bright Futures Program, which includes STEM and
vocational scholarships.
"Our focus on planet, business, and people solutions will guide
us from a strategic, customer partnership, and employee engagement
perspective," added Mr. Bryant. "We're excited to partner with our
people, customers, suppliers, and all our other stakeholders around
the globe on this journey to create and realize a more sustainable
future."
A complete list of Axalta's 2030 sustainability goals is
available at axalta.com/sustainability.
About Axalta Coating Systems
Axalta is a global leader
in the coatings industry, providing customers with innovative,
colorful, beautiful, and sustainable coatings solutions. From light
vehicles, commercial vehicles, and refinish applications to
electric motors, building facades, and other industrial
applications, our coatings are designed to prevent corrosion,
increase productivity, and enhance durability. With more than 150
years of experience in the coatings industry, the global team at
Axalta continues to find ways to serve our more than 100,000
customers in over 130 countries better every day with the finest
coatings, application systems, and technology. For more
information, visit axalta.com and follow us @axalta on Twitter.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding Axalta's ESG strategy, goals,
commitments, and objectives, and reflects Axalta's current
assumptions and expectations. There can be no assurance that Axalta
will be successful in reaching the goals or commitments discussed
above or in its other ESG communications or materials.
Forward–looking statements are subject to known and unknown risks
and uncertainties and are based on potentially inaccurate
assumptions that could cause actual results to differ materially
from those expected or implied by the forward–looking statements.
If any such risks or uncertainties materialize or if any of the
assumptions prove incorrect, our results could differ materially
from the results expressed or implied by the forward–looking
statements we make. We undertake no obligation, and do not intend,
to update the forward–looking statements. Axalta's ESG materiality
assessment was intended to discern the matters that our
stakeholders believe are significant to Axalta; these matters
may not be material from a financial perspective. For additional
information about the factors that could cause actual results to
differ materially from forward-looking statements, see Axalta's
Form 10-K and Form 10-Q filings with the U.S. Securities and
Exchange Commission.
Contact
Jessica Iben
M +1.267.398.8163
Jessica.Iben@axalta.com
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SOURCE Axalta Coating Systems Ltd.