Westlake Reiterates Its Commitment to Company-Wide Continuous Improvement in Its 2020 ESG Report
September 29 2021 - 8:00AM
Business Wire
- Expanded board-level Corporate Risk and Sustainability
Committee
- Creating a new executive leadership role, Vice President -
Sustainability
- Initiates materiality assessments for ESG framework
- Committed to innovative new products for a more sustainable
future
Westlake Chemical Corporation (NYSE: WLK) today released its
2020 Environmental, Sustainability and Governance (ESG) report,
Essential Products, Critical Innovations, the fourth annual report
demonstrating the company’s commitment to continuous improvements
in its operations, products, management and communities.
The report highlights include reductions in emissions; zero loss
of plastic powder, pellet or flake from operations; an improved
safety record; a diversity action plan; and increased charitable
contributions in our communities amid the pandemic and extreme
weather events.
The report demonstrates the resilience and resolve of Westlake
to responsibly operate and safeguard its employees regardless of
challenges, including COVID-19 and hurricanes, while working with
customers to provide more sustainable products such as GreenVin™, a
caustic soda produced with renewable energy and Aspire Vinyl®, the
first phthalate-free, bio-based compounds with more than 35%
renewable content.
Westlake’s 2020 ESG report includes the Company’s first
materiality analysis, which identified 14 key areas of focus –
including health and safety, climate change and energy, waste and
circular economy, community engagement and impact management,
diversity and inclusion, and cyber security -- as the company
continues to align with the important global frameworks for ESG
disclosures and communications. These focus areas are critical to
all of the Company’s key stakeholders, including investors,
suppliers, customers, neighbors and employees.
“As a family-founded company, our business decisions have always
been guided by prioritizing safety, ethics, quality and the
environment,” said Albert Chao, president and chief executive
officer of Westlake. “Our sustainability reporting, which we began
four years ago, illustrates our accomplishments and aspirations
regarding these long-standing commitments. We are taking concrete
steps in our ESG journey to deliver excellence today and create a
better future.”
The 2020 report includes information on EcoVadis findings and
ratings as well as material ESG topics identified by the
Sustainability Accounting Standards Board (SASB). A supplement
Global Reporting Initiative (GRI) index will be available in the
fourth quarter on www.westlake.com. Westlake plans to more
completely report against SASB, GRI, and the Task Force of
Climate-related Financial Disclosures (TCFD) frameworks in its 2021
ESG report.
Westlake continuously improves its operations to reduce its
environmental footprint. The company has reduced CO2e emissions by
almost 9% in the last four years. Another example of this is our
continued focus on emissions controls, including investments in
flare gas recovery and a 2020 reduction in flaring emissions by
approximately 29,000 tons. At the same time, Westlake is expanding
use of recycled products and engineering new innovations for
incorporating more recycled materials into a range of products.
“Our achievements are a credit to our most valuable asset, our
people,” concluded Chao. “Westlake employees are members of an
extended family and the diversity of that team is one of our major
strengths. We are excited to release this important report. We will
continue to drive sustainable results that matter for our company,
industry, investors, and employees. Our company and the planet will
be better as a result.”
The 2020 ESG report also includes details on safety, training
and development and community support.
About Westlake
Westlake is a global manufacturer and supplier of materials and
innovative products that enhance life every day. Headquartered in
Houston, we provide the building blocks for vital solutions — from
building products and infrastructure materials, to packaging and
healthcare products, to automotive and consumer goods. For more
information, visit the company's web site at www.westlake.com.
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Chip Swearngan, mediarelations@westlake.com or
1-713-960-9111
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