WILMINGTON, DE — Ashland Inc. (NYSE: ASH) has announced that its greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), aligning with SBTi’s Criteria and Recommendations. The specialty chemicals company joins over 6,500 businesses globally that have committed to reducing their emissions in accordance with climate science.
The company has established near-term science-based targets across all relevant scopes, in line with 1.5°C emissions scenarios. Ashland is committed to reducing absolute scope 1 and 2 GHG emissions by 50.4 percent by FY2032 from a FY2022 baseline year, and to reducing absolute scope 3 GHG emissions by the same percentage within the same timeframe.
Guillermo Novo, Chair and CEO of Ashland, expressed the company’s commitment to these ambitious targets. “As a global leader in additives and specialty ingredients, we understand the importance of environmental, social, and governance commitments,” he said. “Reducing our GHG emissions helps mitigate climate change, and our actions contribute to our customers’ sustainability goals.”
The SBTi is a global entity that enables companies and financial institutions to set ambitious emissions reduction targets consistent with the latest climate science. It is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). It defines and promotes best practice in science-based target setting and independently assesses and approves companies’ targets.
Ashland’s commitment aligns with the United Nations (UN) compact sustainable development goals (SDGs), which support good environmental stewardship, social welfare and well-being, and governance and transparency.
Sarah Phelan, Director of Sustainability and Environmental Health and Safety at Ashland, highlighted the company’s ongoing commitment to transparency and accountability. “To share the most important material issues with our stakeholders and reduce environmental impact, Ashland will also continue reporting in line with the Global Reporting Initiative and Sustainable Accounting Standards Board standards for the chemical industry,” she said. “We will continue working to increase transparency in ESG, by participating in Sedex Members Ethical Trade Audit (SMETA) audits, disclose on EcoVadis, and strive for key certifications to support increased transparency and disclosures.”
These recent developments underscore Ashland’s commitment to environmental sustainability and responsible corporate citizenship. By setting ambitious, science-based targets, Ashland is taking a proactive stance in the global effort to combat climate change.
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