Dow Commits to New Sustainability Targets, Will Drive Toward Circular Economy
Chemical giant Dow announced a broad set of new sustainability targets today, including reducing GHG emissions and plastic waste, and committed to drive toward a circular economy. Dow also reported progress in its efforts to increase renewable energy sources, with several new agreements announced today.
In today’s announcement, Dow committed to several new targets, including:
- Reducing carbon emissions. Dow will reduce its net annual carbon emissions by 5 million metric tons by 2030, representing 15% of the 2020 baseline. Dow also announced its intention to be carbon neutral by 2050, in line with the Paris Agreement. The company will also pursue technologies that enable the manufacturing of products with fewer resources, and to help customers reduce their own carbon footprints.
- Waste Reduction. Dow has committed to enabling 1 million metric tons of plastic to be collected, reused or recycled by 2030, through direct actions and partnerships. This effort includes investment and collaboration in key technologies and infrastructure to significantly increase global recycling.
- Circular packaging. Dow has committed to having 100% of its products sold into packaging applications be reusable or recyclable by 2025, and to redesigning and offering reusable or recyclable solutions for packaging applications.
Dow also announced today that it has entered into new renewable power agreements for its manufacturing facilities in Argentina, Brazil, Texas, and Kentucky. The new agreements secure 338 megawatts of power capacity from renewable sources, representing an expected reduction of more than 225,000 metric tons of CO2e. The company reported that it is on track to exceed its target to source 750 MW of renewable power capacity by 2025.
Additionally, Dow also launched a new line of mechanically recycled plastic resins for flexible and rigid plastic packaging applications. The new products have the potential to reduce carbon and energy footprints of applications by up to 20-30 percent.
Commenting on the new commitments and on the company’s sustainability efforts, Jim Fitterling, Dow Chairman and Chief Executive Officer said:
“Today’s announcement is the next step in our sustainability journey that began more than 30 years ago. Climate change and plastic waste are among the greatest technical, social, and economic issues the world has ever faced, and our products and technology are critical to addressing both. At Dow, we have a responsibility and an opportunity to lead in addressing these global challenges. A sustainable future is attainable, but only if we continue to tackle these issues head-on, hold ourselves accountable, and work together to enable new science- and technology-based solutions that directly address both climate change and plastic waste.”
Mary Draves, Dow Vice President and Chief Sustainability Officer, added:
“Reducing the impact of climate change and eliminating plastic waste are societal challenges that are closely linked. As a producer of technologies that are essential to a low carbon economy, we are developing and investing in new production processes that are low-emission and optimally efficient. And we’re now looking at waste as a resource that will enable us to continue to innovate sustainable materials.”