Air Products to Host Investor Call on its
Latest Sustainability Commitments today, Monday, July 25, at 10:30
a.m. USET. See details below.
LEHIGH
VALLEY, Pa., July 25,
2022 /PRNewswire/ -- Air Products (NYSE: APD) today
announced an additional set of commitments that further demonstrate
its sustainability strategy in action. The company is creating a
new "Third by '30" carbon dioxide (CO2) emissions
intensity (kg CO2/MM BTU) goal for Scope 3 emissions, in
addition to its existing Scope 1 and 2 goal and pledging to reach
net-zero carbon emissions from its operations by 2050. Air Products
will also spend or commit at least $4
billion in additional new capital for the transition to
clean energy over the next five years, bringing its total
commitment to first-mover projects to $15
billion through 2027.
Air Products' Chairman, President and Chief Executive Officer
Seifi Ghasemi said, "These
commitments complement and reinforce our growth strategy of
building our business to deliver climate benefits and work
alongside our customers on their sustainability journey."
"Air Products is uniquely positioned to bring together its
portfolio of technologies and legacy of experience to ensure the
future climate benefits generated by our first-mover projects come
online at a crucial moment in the energy transition. We continue to
see significant opportunities for hydrogen and carbon capture
technologies, and our industry-leading $15
billion capital commitment is further demonstration of
sustainability being at the heart of our business and growth," he
continued.
To help reach net zero from its operations by 2050, in step with
society's progress towards achieving net zero, Air Products has
identified tangible transition plans for new investments and
modifications of existing company assets, including low- and
zero-carbon hydrogen. Air Products will also continually increase
its use of renewable energy, convert its fleet of about 2,000
trucks to hydrogen fuel cell zero-emission vehicles, and implement
additional actions. Achieving this net zero goal will also require
strong policy and regulatory support that promotes the adoption of
key technologies to address the pace and scale required to support
a net-zero future.
Consistent with its net-zero commitment, Air Products is
engaging with the Science Based Targets Initiative (SBTi), a leader
in mobilizing the private sector on climate action. Since SBTi does
not currently have a methodology for the chemicals sector, Air
Products will participate in the SBTi Expert Advisory Group to help
support development of the sectoral framework that will shape the
methodology for the chemicals sector. Participating in these
ongoing discussions with SBTi and defining a clear methodology for
sector guidance are crucial prerequisites to any potential
commitment to a science-based target.
Air Products is also committed to addressing climate impacts
throughout its upstream and downstream value chain, also known as
Scope 3 emissions. The company's additional "Third by '30" goal is
to reduce the intensity of Air Products' Scope 3 emissions by
one-third by 2030, using 2015 as the baseline year. This ensures
transparency, accountability, and uniformity with the previously
announced goal for Scope 1 and 2 emissions.
Air Products has already committed over $11 billion to real zero- and low-carbon hydrogen
projects driving the Energy Transition. The future climate benefits
from these announced hydrogen projects in execution, if all used
for the heavy-duty truck market, will eliminate more than 20
million tonnes of CO2 per year. Over their lifetime, the
projects are expected to avoid more than 500 million tonnes of
CO2e, which is the equivalent to the emissions from
about 50 billion gallons or over 220 billion liters of diesel used
in heavy-duty trucks. These benefits are in addition to the avoided
emissions for Air Products' customers, enabled by the company's
current products and technologies.
Air Products Investor Call
(Monday, July 25, 2022, 10:30 a.m. USET)
Chairman, President and Chief Executive Officer, Seifi Ghasemi, and Air Products' Vice President
of Investor Relations, Corporate Relations and Sustainability,
Simon Moore, will discuss these new
sustainability commitments on Monday, July
25, 2022 at 10:30 a.m. USET.
The teleconference will be open to the public and the media in
listen-only mode by telephone and Internet broadcast.
Click to join live teleconference
>
Dial-in to live
teleconference: 323-209-7315
Passcode: 6928096
Internet broadcast/slides: Available on the Event
Details page on Air Products' Investor Relations website.
Telephone replay: 888-203-1112
(domestic) or 719-457-0820 (international)
Passcode: 6928096
Available from 2:30 p.m. ET on
July 25, 2022 through 2:30 p.m. ET on August 1,
2022.
Internet replay: Available on the page on Event
Details Air Products' Investor Relations website.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases
company in operation for over 80 years. Focused on serving energy,
environment and emerging markets, the Company provides essential
industrial gases, related equipment and applications expertise to
customers in dozens of industries, including refining, chemical,
metals, electronics, manufacturing, and food and beverage. Air
Products is also the global leader in the supply of liquefied
natural gas process technology and equipment. The Company develops,
engineers, builds, owns and operates some of the world's largest
industrial gas projects, including: gasification projects that
sustainably convert abundant natural resources into syngas for the
production of high-value power, fuels and chemicals; carbon capture
projects; and world-scale low- and zero-carbon hydrogen projects
supporting global transportation and the energy transition.
The Company had fiscal 2021 sales of $10.3 billion from operations in over 50
countries and has a current market capitalization of about
$55 billion. More than 20,000
passionate, talented and committed employees from diverse
backgrounds are driven by Air Products' higher purpose to create
innovative solutions that benefit the environment, enhance
sustainability and address the challenges facing customers,
communities, and the world. For more information, visit
www.airproducts.com or follow us on LinkedIn, Twitter,
Facebook or Instagram.
Cautionary Note Regarding Forward-Looking Statements: This
release contains "forward-looking statements" within the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are based on management's
expectations and assumptions as of the date of this release and are
not guarantees of future performance. While forward-looking
statements are made in good faith and based on assumptions,
expectations and projections that management believes are
reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2021.
Except as required by law, we disclaim any obligation or
undertaking to update or revise any forward-looking statements
contained herein to reflect any change in the assumptions, beliefs
or expectations or any change in events, conditions or
circumstances upon which any such forward-looking statements are
based.
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SOURCE Air Products