Dow reaches midpoint of “Valuing Nature” Goal; Company continues to deliver environmental & financial value through 2025 ...
September 11 2020 - 10:33AM
Business Wire
Dow reaches $500MM in savings toward its $1 billion target
from projects that are good for business and for ecosystems
Dow (NYSE: DOW) announced today it has reached a major
milestone, achieving $500 million of savings from its “Valuing
Nature” goal, halfway to its 2025 Sustainability Goal to deliver $1
billion in business value from projects that enhance nature.
One of seven 2025 Sustainability Goals the Company launched in
2015, which align to the United Nations Sustainable Development
Goals, Dow’s “Valuing Nature” goal is the first-ever commitment by
a corporation to systematically consider nature in its business
decisions on such a major scale.
Through this goal, Dow has committed to deliver $1 billion in
value, primarily through avoided costs, from projects that are both
good for business and for ecosystems. By considering operational
interfaces with nature, capital costs and long-term operational and
maintenance costs can be lowered. The Company also committed to
screen all capital and real estate projects, business development
projects and new product innovations for potential sustainability
benefits and impact.
“At Dow, we believe business should be a catalyst for positive
change through innovation and leadership in environmental
sustainability,” said Jim Fitterling, Dow's chairman and chief
executive officer. “That’s why we are leading the way in ensuring
the value of nature is considered in our business decisions. Dow’s
Valuing Nature Goal is a critical piece of our ambition to become
the most sustainable materials science company in the world.”
Examples of nature projects implemented include:
Terneuzen, The Netherlands: Dow collaborated with
Evides, a water treatment company and local water supplier, and the
District Water Board to use local wastewater for industrial
purposes. This collaboration was the first major-scale application
of industrial water reuse from municipal effluent. The
collaboration has resulted in 300 m3/h net (or 2.5 million m3/year)
water reuse, a 96.5% reduction in energy consumption and lower
maintenance costs. By 2025, Dow is working to replace the
freshwater from the Biesbosch region completely with sustainably
sourced water. Dow, also, is testing a constructed wetland to
enable more efficient downstream water treatment, requiring less
chemicals and energy.
Aratu, Brazil: Excavation to install new brine wells at
Matarandiba Island resulted in unstable and unsafe embankments.
Instead of complete excavation or the traditional hard armor
approach with steel and concrete, Dow stabilized embankments with
gabions of local, readily available stone and reinforced
vegetation. By creating this “living wall,” Dow saved money
compared to alternatives, while reducing carbon emissions by 90%
and reducing impact to the local forest.
Hot Springs, Arkansas: Acidic water with high levels of
zinc was seeping from an abandoned mining site in Arkansas. Rather
than installing a traditional collection and lime neutralization
system to treat the water, the project team diverted runoff and
seepwater into a sinuous limestone channel that used nature’s
biochemical processes to treat the water. The result is a natural
streambed with minimal maintenance costs, and the mine seep water
is treated before it enters the downstream creek.
Through its long-running collaboration with The Nature
Conservancy, Dow has also developed tools to help evaluate and
measure the value of nature-based projects. One tool, the Ecosystem
Services Identification & Inventory Tool, or ESII Tool, is
available for download and allows users to quickly and effectively
generate information on the ecosystem service performance of a
specified landscape.
“By systematically providing the tools, structure and business
environment, we are demonstrating how investing in nature can help
businesses and other organizations save money, reduce risks and
build value for all stakeholders,” said Mary Draves, chief
sustainability officer and vice president of Environment, Health
& Safety for Dow.
Earlier this year, Dow announced aggressive new sustainability
commitments, which build upon its 2025 Sustainability Goals, and
put the Company on a path to achieve carbon neutrality by 2050,
eliminate plastic waste in the environment and increase the
Company’s positive impacts on society, its customers and its
business. The Company also issued its annual Sustainability Report
for the 17th consecutive year, outlining progress and results
aligned to its 2025 Sustainability Goals.
About Dow
Dow (NYSE: DOW) combines global breadth, asset integration and
scale, focused innovation and leading business positions to achieve
profitable growth. The Company’s ambition is to become the most
innovative, customer centric, inclusive and sustainable materials
science company. Dow’s portfolio of plastics, industrial
intermediates, coatings and silicones businesses delivers a broad
range of differentiated science-based products and solutions for
its customers in high-growth market segments, such as packaging,
infrastructure and consumer care. Dow operates 109 manufacturing
sites in 31 countries and employs approximately 36,500 people. Dow
delivered sales of approximately $43 billion in 2019. References to
Dow or the Company mean Dow Inc. and its subsidiaries. For more
information, please visit www.dow.com or follow @DowNewsroom on
Twitter.
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Christy English +1 (989) 638-4286
christy.english@dow.com
Kyle Bandlow +1 (989) 638-2417 kbandlow@dow.com
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