Ashland announces validation of comprehensive science-based greenhouse gas emissions reductions targets
November 30 2023 - 7:00AM
The Science Based Targets initiative (SBTi) has validated the
science-based greenhouse gas (GHG) emissions reductions targets
submitted by Ashland Inc. (NYSE: ASH) as conforming with the SBTi
Criteria and Recommendations. The company has joined more than
6,500 businesses who have committed to the SBTi to reduce emissions
in line with climate science.
Ashland has set near-term science-based targets
across scopes one, two, and three in line with 1.5°C emissions
scenarios to ensure the strongest ambition in the short-to -medium
term committing to reduce absolute scope 1 and 2 GHG emissions 50.4
percent by FY2032 from a FY2022 baseline year* and to reduce
absolute scope 3 GHG emissions 50.4 percent within the same
timeframe.
“Ashland is proud to announce our ambitious
science-based targets that reflect our purpose to responsibly solve
for a better world,” said Guillermo Novo, chair and chief executive
officer, Ashland. “As a global leader in additives and specialty
ingredients, we understand the importance of environmental, social
and governance commitments. Reducing our GHG emissions helps
mitigate climate change and our actions contribute to our customers
sustainability goals.”
The Science Based Targets initiative (SBTi) is a
global body enabling companies and financial institutions to
set ambitious emissions reduction targets in line with the
latest climate science. The initiative is a collaboration
between Carbon Disclosure Project (CDP), the United Nations Global
Compact, World Resources Institute (WRI) and the World Wide Fund
for Nature (WWF) and one of the We Mean Business Coalition
commitments. The SBTi defines and promotes best practice in
science-based target setting, offers resources and guidance to
reduce barriers to adoption, and independently assesses and
approves companies’ targets.
Ashland’s commitment is aligned with the United
Nations (UN) compact sustainable development goals (SDGs), which
support good environmental stewardship, social welfare and
well-being, and governance and transparency.
“To share the most important material issues
with our stakeholders and reduce environmental impact, Ashland will
also continue reporting in line with the Global Reporting
Initiative and Sustainable Accounting Standards Board standards for
the chemical industry,” said Sarah Phelan, director sustainability
and environmental health and safety, Ashland. “These organizations
hold companies and their suppliers to higher social and ethical
standards while innovating with a clear conscience for the
environment and humanity. We will continue working to increase
transparency in ESG, by participating in Sedex Members Ethical
Trade Audit (SMETA) audits, disclose on EcoVadis, and strive for
key certifications to support increased transparency and
disclosures.”
About Ashland
Ashland Inc. (NYSE: ASH) is a global additives and specialty
ingredients company with a conscious and proactive mindset for
environment, social and governance (ESG). The company serves
customers in a wide range of consumer and industrial markets,
including architectural coatings, construction, energy, food and
beverage, nutraceuticals, personal care and pharmaceutical.
Approximately 3,800 passionate, tenacious solvers – from renowned
scientists and research chemists to talented engineers and plant
operators – thrive on developing practical, innovative and elegant
solutions to complex problems for customers in more than 100
countries. Visit ashland.com and ashland.com/ESG to learn
more.
*The target boundary includes land-related
emissions and removals from bioenergy feedstocks.
™ Trademark, Ashland or its subsidiaries,
registered in various countries.
FOR FURTHER INFORMATION:
Investor Relations: |
Media Relations: |
Seth A. Mrozek |
Carolmarie C. Brown |
+1 (302) 594-5010 |
+1 (302) 995-3158 |
samrozek@ashland.com |
ccbrown@ashland.com |
- Ashland Announces Science Based Targets 20231130
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