Ashland Inc. (NYSE: ASH) has published its 2022 Environmental,
Social and Governance (ESG) Report online which builds links
between the company’s technology platform innovations, market
leadership positions and ESG practices and programs. The report
also frames the company’s progress across a materiality assessment
that maps the interconnectivity between ESG pillars and core
business practices. Year-on-year progress and a dedicated focus to
deliver improvements continue to demonstrate Ashland’s long-term
commitment to responsibly solving for a better world.
This report sets the stage for Ashland’s
soon-to-be-released Science-Based Targets that are aligned with the
ambitious aim of the Paris Climate Accord to limit global
temperature rise to 1.5°C above preindustrial levels. By
fully integrating the United Nations (UN) Global Compact and its
principles into the company’s core business strategy, culture and
day-to-day operations, Ashland shows how company-wide commitments
can support people, planet and profit.
“This year’s report demonstrates how Ashland is
delivering on our ESG promises, showing improvement in many areas
while shining a light on how a bottoms up approach to problem
solving can drive continuous improvement in the face of a
challenging business environment,” said Guillermo Novo, chair and
chief executive officer, Ashland. “The company’s investment in
clearly defined focus areas, concise metrics, detailed disciplines,
and a transparent governance process demonstrate that every Ashland
job is an ESG job. That’s why we’re focused on ensuring our
stakeholders understand how we conduct business, manage our
relationships, and invent, manufacture, and distribute the full
range of our innovative portfolio of products and services.”
1.5°C Science Based Emissions
Reduction TargetsMore than 6,500 businesses have committed
to the Science Based Targets initiative (SBTi) to reduce their
emissions in line with climate science. Ashland has committed to
set near-term science-based targets across scopes one, two, and
three in line with 1.5°C emissions scenarios to ensure the
strongest ambition in the short-to -medium term. The campaign is
led by the SBTi and backed by a global coalition of UN leaders,
business organizations and non-governmental organizations
(NGOs).
United Nations Global
CompactThe UN Global Compact has been deemed the world’s
largest corporate sustainability initiative. It aims to accelerate
business action to achieve sustainable development goals and more
ambitious climate targets. By committing, Ashland joins more than
24,000 signatories based in over 160 countries and 69 local
networks. Ashland’s efforts are aligned with the UN compact
sustainable development goals (SDGs), which support good
environmental stewardship, social welfare and well-being, and
governance and transparency. Throughout the 2022 ESG report,
Ashland’s initiatives are shown in alignment with the SDGs.
“In 2022 Ashland made strong ESG progress including achieving
EcoVadis Gold, obtaining Roundtable on Sustainable Palm Oil –
MB Certification for palm-based products at one of our sites and
FSC Chain of Custody Certification for all of our cellulosic
sites,” said Sarah Phelan, director environmental health and
safety, Ashland. “External recognition from the Wildlife Habitat
Council, Natura, American Chemistry Council, Society of Chemical
Manufacturers and Affiliates, and more is a testament to our
diverse and motivated workforce who spend their professional lives
seeking out challenges and delivering solutions that spark
innovation and fuel impact.”
The 2022 report shows an improvement in
Ashland’s intensity-based metrics across all targets, where Ashland
reduced its GHG emissions intensity by 10.6 percent, water
intensity by 14.7 percent, energy intensity by more than three
percent, and hazardous waste intensity by more than one percent
from 2020 to 2022, through a combination of energy efficiency
projects and more efficient operations.
SourcingAshland is selecting sustainable raw
materials, understanding their life-cycle impact, and working
closely with suppliers to ensure their success while delivering on
customers’ and consumers’ increasingly planet-minded and
performance preferences.
OperationsSafe, sustainable
manufacturing is vital to Ashland’s ESG strategy, and the company
has strategies in place to continue to reduce its environmental
footprint while focusing on increasing its renewable energy in
manufacturing facilities.
SolutionsWhether delivering
next generation life sciences technologies that help healthcare
company’s irradicate disease, investing in sustainable sourcing for
personal care or delivering durable, water-based coatings, Ashland
is putting ESG front and center with the customer, countries and
cultures it serves the world over.
Inclusion and diversityIn 2021, Ashland set
long-term goals to ensure a sustained focus on building a diverse
workforce and inclusive culture. In 2022 the company established a
global committee with regional leadership and CEO oversight to
drive accountability and focus on the initiatives and efforts that
will build momentum across our entire organization towards the 2031
commitment.
Social philanthropy and STEM
For its philanthropic focus, Ashland has
committed to science, technology, engineering and mathematics
(STEM) education with regional programs that are customized to the
specific needs of local communities in which the company
operates.
Transparency Ashland will
continue reporting in line with the Global Reporting Initiative
(GRI) and Sustainable Accounting Standards Board (SASB) standards
for the chemical industry. Alignment enables Ashland to share
the most important material issues with stakeholders and reduce
environmental impact. These organizations hold companies and their
suppliers to higher social and ethical standards while innovating
with a clear conscience for the environment and humanity. Ashland
is also continuing to work to increase transparency in ESG, by
participating in Sedex Members Ethical Trade Audit (SMETA)
audits, disclosing on EcoVadis, and achieving several key
certifications to support increased transparency and
disclosures.
Innovation strategyAshland’s
ESG strategy is clearly demonstrated in the company’s innovation
strategy. The series of technologies launched in 2022 are a prelude
for more dynamic advances to come as market demand for ESG-driven
products remains strong especially when coupled with outstanding
performance.
By integrating ESG into its business strategy
which includes critical checkpoints within the innovation process
to drive sustainable solutions, the company has been recognized by
the American Chemistry Council, the Society of Chemical
Manufacturing and Affiliates, the European Sustainable Cosmetics
Summit and others, for safe and sustainable initiatives.
About Ashland
Ashland Inc. (NYSE: ASH) is a global additives and specialty
ingredients company with a conscious and proactive mindset for
environment, social and governance (ESG). The company serves
customers in a wide range of consumer and industrial markets,
including architectural coatings, construction, energy, food and
beverage, nutraceuticals, personal care and pharmaceutical.
Approximately 3,800 passionate, tenacious solvers – from renowned
scientists and research chemists to talented engineers and plant
operators – thrive on developing practical, innovative and elegant
solutions to complex problems for customers in more than 100
countries. Visit ashland.com and ashland.com/ESG to learn
more.
* The COSMOS* standard is an
international non-profit association that establishes common
requirements and definitions for organic and/or natural cosmetics.
It was developed at the European and international level by the
founders of the COSMOS* standard AISBL.
™ Trademark, Ashland or its subsidiaries,
registered in various countries.
FOR FURTHER INFORMATION:
Investor Relations: |
Media Relations: |
Seth A. Mrozek |
Carolmarie C. Brown |
+1 (302) 594-5010 |
+1 (302) 995-3158 |
samrozek@ashland.com |
ccbrown@ashland.com |
- 2022_ESG_Report_FNL_20231120
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