CONSHOHOCKEN, Pa., Aug. 2, 2021 /PRNewswire/ -- Quaker Houghton
("the Company"; NYSE: KWR), the global leader in industrial process
fluids, today announced goals for its global sustainability
program. The announcement builds on the Company's earlier
commitment to achieve carbon neutrality by 2030 and net zero
emissions across its entire value chain by 2050. The full list of
2030 goals announced today reach beyond the critical issue of
climate change to complete Quaker Houghton's comprehensive
sustainability strategy.
"These commitments demonstrate Quaker Houghton's dedication to
driving innovation and delivering a sustainable future for the
public, our customers, and our business," said Michael F. Barry, Chairman, Chief Executive
Officer and President. Mr. Barry continued, "We have an opportunity
to create meaningful progress that benefits future generations and
helps our customers keep pace with the demands of a changing world.
I am extremely proud of our global team and the goals we have set
forth today."
The new 15 long-term goals are based on the results of the
Company's 2020 materiality assessment, which was completed with
input from customers, investors, suppliers, and internal
stakeholders. The targets also align with the United Nations
Sustainable Development Goals.
The Company's goals are grouped under four pillars as part of a
refreshed sustainability strategy and vision, announced earlier in
its 2020 Sustainability Report. By 2030, Quaker Houghton aspires
to:
Innovating Together for a Better Tomorrow
- Achieve 100% of finished goods in Quaker Houghton's portfolio
not classified as carcinogenic, mutagenic, or reprotoxic
(CMRs)
- Reduce the Company's use of fossil-based raw materials by
30%
- Eliminate 45,000 metric tons of waste at QH FLUIDCARE™ partner
locations
Protecting Our Planet
- Achieve carbon neutrality in its global operations
- Set science-based targets1 to achieve net zero
greenhouse gas emissions across its value chain by 2050
- Reduce waste to landfill, hazardous waste, and water per ton
produced by 20% each
Empowering Our Colleagues & Communities
- Have zero serious injury recordables
- Achieve zero recordable incidents with more than 5 lost work
days at 98% of Quaker Houghton and customer locations
- Achieve engagement scores greater than the Company's industry
peers
- Provide career enhancement programming to 100% of its
colleagues
- Increase female representation globally and in management to
25-27%
- Increase ethnic diversity in the U.S. to 25-27%
- Work together to reach 250,000 cumulative hours of
volunteering
- Invest time and resources to conduct impactful projects in all
of the communities where Quaker Houghton manufactures, works, and
conducts research around the globe
Sourcing Our Materials Responsibly
- Achieve 75% of total direct spend with suppliers that exceed
Quaker Houghton's sustainability performance threshold
While the full set of goals announced today complete the
Company's holistic sustainability program, Quaker Houghton has also
identified short-term milestones that it will reach to help
accelerate the achievement of their 2030 targets. These milestones
and more information can be found at
quakerhoughton.com/sustainability. The Company will also disclose
progress updates in its annual sustainability
report.
Forward-Looking Statements
This press release may
contain "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These statements
can be identified by the fact that they do not relate strictly to
historical or current facts. We have based these forward-looking
statements with respect to the Company's business, results of
operations and financial condition, on our current expectations
about future events. These forward-looking statements include
statements with respect to our beliefs, plans, objectives, goals,
expectations, anticipations, intentions, financial condition,
results of operations, future performance, and business, including
but not limited to our current and future results and plans and
statements that include the words "may," "could," "should,"
"would," "believe," "expect," "anticipate," "estimate," "intend,"
"plan" or similar expressions. Therefore, we caution you not to
place undue reliance on our forward-looking statements. For more
information regarding certain risks that we face, refer to the Risk
Factors section, which appears in Item 1A of our Annual Report on
Form 10-K for the year ended December 31,
2020, and in subsequent reports filed from time to time with
the Securities and Exchange Commission. We do not intend to,
and we disclaim any duty or obligation to, update or revise any
forward-looking statements to reflect new information or future
events or for any other reason. This discussion is provided as
permitted by the Private Securities Litigation Reform Act of
1995.
About Quaker Houghton
Quaker Houghton (NYSE: KWR) is
the global leader in industrial process fluids. With a robust
presence around the world, including operations in over 25
countries, our customers include thousands of the world's most
advanced and specialized steel, aluminum, automotive, aerospace,
offshore, can, mining, and metalworking companies. Our
high-performing, innovative and sustainable solutions are backed by
best-in-class technology, deep process knowledge, and customized
services. With approximately 4,200 employees, including chemists,
engineers, and industry experts, we partner with our customers to
improve their operations so they can run even more efficiently,
even more effectively, whatever comes next. Quaker Houghton is
headquartered in Conshohocken,
Pennsylvania, located near Philadelphia in the
United States. Visit quakerhoughton.com to learn more.
1 Science-based targets provide companies with a
clearly defined path to reduce emissions through the Science Based
Target Initiative, which is in line with the Paris Climate
Agreement.
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SOURCE Quaker Houghton