- Dow expands Protect the Climate targets to include climate
adaptation benchmarks focused on water and nature
- This reflects Dow's holistic approach to climate protection,
considering both climate change mitigation and adaptation
MIDLAND,
Mich., May 16, 2024 /PRNewswire/
-- Dow (NYSE: DOW) today announced it will expand its
Protect the Climate targets by setting distinct milestones for
climate change mitigation that focus on water and nature
conservation. These targets include:
- By 2030, Dow will implement a robust land management strategy,
its top 20 water-dependent sites will have water stewardship plans,
and 10 of those sites will be water-resilient.
- By 2035, all Dow sites will have water stewardship plans.
- By 2050, Dow will partner to conserve 50,000 acres of habitat
and its top 20 water-dependent sites will be water-resilient.
As a science-based company, Dow understands the impact that
rapidly changing climate and socio-economic conditions are having
on water and nature. The new Water & Nature strategy is
designed to support resiliency for its sites and surrounding
natural ecosystems to be able to withstand unpredictable
conditions, such as drought and flooding.
Dow is uniquely positioned to apply its materials science
expertise and advanced engineering capabilities for the benefit of
water resiliency and healthy ecosystems. Its new strategy focuses
on three main areas:
- Sustainably managing site footprint, supporting business
continuity through world-class water stewardship and positively
impacting habitat through smart land management;
- Engaging the entire supply chain, working to reduce the demand
and impact on water and nature ecosystems; and
- Innovating with customers and value chain partners, deploying
research and development (R&D) for products and solutions that
are better for water and nature.
"To deliver on Dow's purpose—a sustainable future for all—we
must maintain a balanced relationship with water and nature," said
Jim Fitterling, Dow's chair and
chief executive officer. "Dow's holistic, next-generation Water
& Nature strategy is designed to support water resilience for
our sites and their surrounding communities, conserve habitat in
key ecosystems, and positively impact nature across the supply
chain as we continue to drive business growth."
Dow primarily uses water to manage cooling processes, with more
than 95% of water withdrawn returned to the environment. Water and
nature are also connected to Dow's Decarbonize & Grow strategy,
as some decarbonization technologies and bio-based resources
present emerging dependencies on natural ecosystems.
To advance water resilience and healthy ecosystems, Dow will
work together with water basin stakeholders and conservation
organizations to support consistent quality and access, adequate
supply, and infrastructure that is prepared for fluctuating
conditions. The new strategy reflects the complexity of water and
nature stewardship by considering Dow's operations and its supply
chain, as well as water basin and land dynamics.
"This new Water & Nature strategy builds upon decades of
work at Dow to conserve healthy ecosystems. Considering the rapidly
changing conditions, we conducted a detailed evaluation of our
strategies and commitments and determined we needed to take this
next step on our journey," said Andre
Argenton, Dow's chief sustainability officer and vice
president of Environment, Health & Safety. "For the sake of our
planet, we want to be a pacesetter for our industry in
decarbonization, water stewardship and healthy ecosystems."
Dow is committed to reporting progress on these targets with
voluntary disclosures under the Taskforce for Nature-Related
Financial Disclosures (TNFD) beginning with the 2025 reporting
year. The Company will also continue to report withdrawal,
consumption and intensity as part of its annual INtersections
progress report.
About Dow
Dow (NYSE: DOW) is one of the world's
leading materials science companies, serving customers in
high-growth markets such as packaging, infrastructure, mobility and
consumer applications. Our global breadth, asset integration
and scale, focused innovation, leading business positions and
commitment to sustainability enable us to achieve profitable growth
and help deliver a sustainable future. We operate manufacturing
sites in 31 countries and employ
approximately 35,900 people. Dow delivered sales of
approximately $45 billion in 2023. References to Dow or
the Company mean Dow Inc. and its subsidiaries. Learn more about us
and our ambition to be the most innovative, customer-centric,
inclusive and sustainable materials science company in the world by
visiting www.dow.com.
For further information, please contact:
Sarah
Young
Phone: +1
989-638-6871
syoung3@dow.com
X: https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram: http://instagram.com/dow_official
Cautionary Statement about Forward-Looking Statements
Certain statements in this press release contain
"forward-looking statements" within the meaning of the federal
securities laws, including Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Such statements
often address expected future business and financial performance,
financial condition, and other matters, and often contain words or
phrases such as "anticipate," "believe," "estimate," "expect,"
"intend," "may," "opportunity," "outlook," "plan," "project,"
"seek," "should," "strategy," "target," "will," "will be," "will
continue," "will likely result," "would" and similar expressions,
and variations or negatives of these words or phrases.
Forward-looking statements are based on current assumptions
and expectations of future events that are subject to risks,
uncertainties and other factors that are beyond Dow's control,
which may cause actual results to differ materially from those
projected, anticipated or implied in the forward-looking statements
and speak only as of the date the statements were made. These
factors include, but are not limited to: sales of Dow's products;
Dow's expenses, future revenues and profitability; any global and
regional economic impacts of a pandemic or other public
health-related risks and events on Dow's business; any sanctions,
export restrictions, supply chain disruptions or increased economic
uncertainty related to the ongoing conflicts between Russia and Ukraine and in the Middle East; capital requirements and need for
and availability of financing; unexpected barriers in the
development of technology, including with respect to Dow's
contemplated capital and operating projects; Dow's ability to
realize its commitment to carbon neutrality on the contemplated
timeframe, including the completion and success of its integrated
ethylene cracker and derivatives facility in Alberta, Canada; size of the markets for Dow's
products and services and ability to compete in such markets;
failure to develop and market new products and optimally manage
product life cycles; the rate and degree of market acceptance of
Dow's products; significant litigation and environmental matters
and related contingencies and unexpected expenses; the success of
competing technologies that are or may become available; the
ability to protect Dow's intellectual property in the United States and abroad; developments
related to contemplated restructuring activities and proposed
divestitures or acquisitions such as workforce reduction,
manufacturing facility and/or asset closure and related exit and
disposal activities, and the benefits and costs associated with
each of the foregoing; fluctuations in energy and raw material
prices; management of process safety and product stewardship;
changes in relationships with Dow's significant customers and
suppliers; changes in public sentiment and political leadership;
increased concerns about plastics in the environment and lack of a
circular economy for plastics at scale; changes in consumer
preferences and demand; changes in laws and regulations, political
conditions or industry development; global economic and capital
markets conditions, such as inflation, market uncertainty, interest
and currency exchange rates, and equity and commodity prices;
business or supply disruptions; security threats, such as acts of
sabotage, terrorism or war, including the ongoing conflicts between
Russia and Ukraine and in the Middle East; weather events and natural
disasters; disruptions in Dow's information technology networks and
systems, including the impact of cyberattacks; and risks related to
Dow's separation from DowDuPont Inc. such as Dow's obligation to
indemnify DuPont de Nemours, Inc. and/or Corteva, Inc. for certain
liabilities.
Where, in any forward-looking statement, an expectation or
belief as to future results or events is expressed, such
expectation or belief is based on the current plans and
expectations of management and expressed in good faith and believed
to have a reasonable basis, but there can be no assurance that the
expectation or belief will result or be achieved or accomplished. A
detailed discussion of principal risks and uncertainties which may
cause actual results and events to differ materially from such
forward-looking statements is included in the section titled "Risk
Factors" contained in the Company's Annual Report on Form 10-K for
the year ended December 31, 2023 and
the Company's subsequent Quarterly Reports on Form 10-Q. These are
not the only risks and uncertainties that Dow faces. There may be
other risks and uncertainties that Dow is unable to identify at
this time or that Dow does not currently expect to have a material
impact on its business. If any of those risks or uncertainties
develops into an actual event, it could have a material adverse
effect on Dow's business. Dow Inc. and The Dow Chemical Company and
its consolidated subsidiaries assume no obligation to update or
revise publicly any forward-looking statements whether because of
new information, future events, or otherwise, except as required by
securities and other applicable laws.
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SOURCE The Dow Chemical Company
