Chemicals and materials science giant Dow Inc. announced today a new target to commercialize 3 million metric tons of circular and renewable solutions annually by 2030, significantly expanding one of its key sustainability goals.
To meet its new goals, the company announced the formation a new business platform, Circular & Renewable Solutions, aligned with the company’s Packaging & Specialty Plastics operating segment.
The new platform is led by Daniella Souza Miranda, who has been appointed Global Business Director – Circular & Renewable Solutions. Miranda has been with Dow for nearly 25 years, most recently serving as Global Director, Marketing & Digital.
André Argenton, Dow’s chief sustainability officer and vice president of Environment, Health & Safety, said:
“Our expanded sustainability target reflects our commitment to raise the bar for ourselves and the broader industrial ecosystem as we leverage our materials science expertise, commitment to circular innovation and productive collaboration with our partners.”
Dow announced a series of sustainability targets in 2020, aimed at reducing GHG emissions and plastic waste, and driving toward a circular economy, including a “Stop the Waste” target to enable 1 million tons of plastic to be collected, reused or recycled by 2030.
The updated 2030 goal, dubbed “Transform the Waste,” sets an ambition for the company to transform plastic waste and other forms of alternative feedstock to commercialize 3 million tons of circular and renewable solutions per year.
Diego Donoso, President of Down Packaging and Specialty Plastics, said:
“Today’s announcement demonstrates our strong commitment to increase our use of feedstocks from recycled and renewable sources. The creation of the Circular & Renewable Solutions business platform will accelerate our ability to deliver on these enhanced commitments and advance our circular plastics business model.”
The new goal follows an announcement by Dow in July of a series of investments and partnerships aimed at accelerating the company’s circularity capabilities, and significantly scaling its plastic recycling capacity. These included a collaboration with advanced recycling solutions provider Mura Technology to construct multiple large-scale recycling facilities in the US and Europe, adding up to 600,000 tons of plastic recycling capacity by 2030, making it Dow’s largest advanced recycling commitment to date.
Jim Fitterling, Dow Chairman and CEO, said:
“Through investments in key technologies, infrastructure and strategic collaborations, we are expanding our Stop the Waste goal to reflect the transformation of Dow’s plastic franchise and leadership to enable a circular economy. We will increase the value of waste and enable a new industrial ecosystem to grow, which in turn will allow Dow to scale our ability to produce circular and low-carbon emission solutions.”