Building a better future together: Methanex releases SASB-aligned 2020 Sustainability Report
June 02 2021 - 8:58AM
Methanex Corporation (TSX:MX) (NASDAQ:MEOH), the world’s largest
producer and supplier of methanol, today released its 2020
Sustainability Report to share its progress on the material
environmental, social and governance (ESG) topics of most
importance to the company’s business and stakeholders.
Methanex has reported on its sustainability performance since
1997 and this year’s report provides greater transparency and
comparability by aligning its disclosures with the Sustainability
Accounting Standards Board (SASB) standards and some elements of
the Task Force on Climate-related Financial Disclosures (TCFD) and
Global Reporting Initiative (GRI).
“As a leader in the methanol industry, Methanex is dedicated to
working with our many stakeholders to build a sustainable future
together,” said John Floren, President and CEO of Methanex. “Our
2020 Sustainability Report highlights our performance across a wide
range of ESG metrics and the actions we are taking to support
long-term value creation and contribute to the sustainability of
our business and society.”
An essential building block for hundreds of products, methanol
supports the transition to a low-carbon economy by enabling
products that contribute to energy-efficient buildings and cars,
solar panels and wind turbines, among others. Methanol is also a
clean-burning fuel that significantly reduces automotive and marine
vessel engine emissions compared to traditional fuels.
The 2020 Sustainability Report describes Methanex’s actions to
reduce greenhouse gas emissions from operations, outlines how the
company manages climate-related opportunities and risks for its
business, and identifies the technology solutions it is exploring
to further reduce emissions from operations.
“We are constantly seeking ways to use carbon fuels more
efficiently and reduce carbon dioxide emissions across our
operations when we produce and distribute methanol,” said Floren.
“Also, as early investors in renewable methanol technology, we will
continue to evaluate and make investments in renewable and
low-carbon methanol. We are also supporting the growing market for
methanol as a low-emissions fuel for the shipping industry, as well
as other markets such as industrial boilers and automobiles.”
Report highlights in these areas include:
- Ordering eight new methanol dual-fuel vessels for the
Waterfront Shipping fleet, the world’s largest dedicated fleet of
methanol ocean tankers – 60 per cent of which will be powered by
methanol fuel technology by 2023. When methanol is used as a marine
fuel, it can result in an 80 per cent reduction in nitrogen oxides
(NOx), 85 per cent reduction in particulate matter (PM), 99 per
cent reduction in sulphur oxides (SOx) and 15 per cent lower carbon
dioxide (CO2) emissions during combustion compared to traditional
marine fuel.
- Obtaining International Sustainability & Carbon
Certification for the biomethanol produced at two of the Geismar,
Louisiana, plants using biomethane (renewable natural gas) from
municipal solid waste and other sources. This certification will
enable Methanex to sell biomethanol to European customers under the
Renewable Energy Directive, which sets targets for energy from
renewable sources for fuel suppliers.
- Producing more than 59,000 tonnes of low-carbon methanol at the
Medicine Hat, Alberta, plant (approximately 12 per cent of the
plant’s production in 2020) by using carbon dioxide captured from a
neighbouring industrial facility that would otherwise be released
to the atmosphere.
The 2020 Sustainability Report also highlights other
sustainability achievements during a challenging year amidst the
COVID-19 pandemic. These include examples of how Methanex drives
safety throughout its operations and supply chain, supports a
diverse and thriving workplace culture and contributes meaningful
value to the communities where it operates. Highlights include:
- Establishing a taskforce to advance diversity and inclusion
(D&I) efforts in the organization and lay the foundation for
the development of an integrated D&I strategy through a new
Global D&I Council going forward, as well as formally embedding
a target into the Board Diversity Policy that each gender comprises
at least 30 per cent of the Board’s directors, which the Company
has already been exceeding.
- Investing approximately US$1.7 million and 7,400 volunteer
hours in communities, focusing on COVID-19 emergency relief
support, an investment valued at over one per cent of the company’s
average adjusted net income over the past five years.
To read Methanex’s full 2020 Sustainability Report please click
here. We welcome feedback on our report to help ensure our
disclosures meet the information needs of our many stakeholders.
Click here to provide feedback.
About Methanex CorporationMethanex is a
Vancouver-based, publicly traded company and is the world's largest
producer and supplier of methanol to major international markets.
Methanex shares are listed for trading on the Toronto Stock
Exchange in Canada under the trading symbol "MX" and on the NASDAQ
Global Market in the United States under the trading symbol "MEOH”.
Methanex can be visited online at www.methanex.com.
For further information, contact:
Investor InquiriesKim Campbell, Director,
Investor Relations+1-604 661 2600 or Toll Free: 1 800 661
8851invest@methanex.com
Media InquiriesLouise McMahon, Manager, Global
Communications+1-604 661 2600 or Toll Free: 1 800 661
8851sustainability@methanex.com
A photo accompanying this announcement
is available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/94b21e09-2e47-4434-9167-46cd8671129c
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