Commercial, GHG Emissions, Sourcing Renewables - June 17, 2020
Dow commits to carbon neutrality by 2050
Dow announced June 17 that they have committed to achieve carbon neutrality by 2050 and reduce carbon emissions by 15% between 2020 and 2030.
The materials company successfully reduced greenhouse gas emissions by 15% between 2006 and 2019, as well as incorporated a carbon price into their business planning.
Dow also increased their renewable energy generation in 2019 and now ranks in the top 25 global corporations in terms of renewable power use. Most recently, the company entered into agreements that will provide manufacturing facilities in Argentina, Brazil, Texas and Kentucky with an additional 338 MW of renewable energy capacity. The company expects to exceed its target to source 750 MW renewable energy capacity by 2025.
“Today’s announcement is the next step in our sustainability journey that began more than 30 years ago,” Jim Fitterling, Dow chairman and CEO, said in a statement. “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.”
Other initiatives Dow committed to this week include enabling 1 million metric tons of plastic to be collected, reused or recycled by 2030 and ensuring 100% of their products are sold in reusable or recyclable packaging by 2035.