Orion aims for net-zero
Orion Engineered Carbons is aiming to align its sustainability objectives with the Paris Climate Agreement, and strive to achieve net-zero emissions of greenhouse gases by 2050.
The net-zero ambition demonstrates the company's ongoing commitment to address global climate change while meeting customers' needs for highly engineered materials essential for tires, coatings, batteries and other everyday products.
To make its net-zero aspirations realistic, Orion has 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 itself 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.
It aims to generate 30 percent of its adjusted EBITDA through sustainable solutions by 2030, and to grow this to 50 percent by 2035. The company is also setting mid-term goals for reducing greenhouse-gas emissions that are aligned with science-based methodologies.
We know our goal is ambitious, and we want to make sure it's meaningful, said Orion CEO Corning Painter.
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.
Mr Painter added,
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.