- Report highlights Dow's comprehensive advancements across,
and within, important areas of environmental protection, social
progress, and accountable governance
- Provides convenient access to data and disclosures aligned
with key ESG reporting frameworks
- Received Limited Assurance for GRI and Scope 1 and Scope 2
emissions in accordance with GHG Protocol reporting
MIDLAND,
Mich., June 15, 2022 /PRNewswire/ -- Dow
Inc. (NYSE: DOW) today released its second annual comprehensive
Environmental, Social, and Governance (ESG) report, further
demonstrating its commitment to transparency in data disclosure and
how the Company is working to deliver solutions to global
challenges that create lasting value for all its stakeholders.
Dow's "INtersections" report reflects the interdependency
between the environment and society, innovation and science,
collaboration and action, and builds on 18 consecutive years of
voluntary sustainability reporting and three years of inclusion and
diversity reporting.
"The challenges facing our local and global communities are
increasingly complex and interconnected, and demand a collaborative
and integrated approach," said Jim
Fitterling, chairman and CEO of Dow. "They also require
game-changing ideas fueled by science. As a science and technology
company, we eagerly take on the responsibility for finding answers
to the most pressing challenges of our time. This is central to our
purpose as a company. It is central to our growth strategy. And it
is central to driving best-in-class performance and
accountability."
Key highlights from the report, which is based on full-year 2021
data, include:
Executing on a plan to decarbonize and grow.
- Announced plans to build the world's first net-zero carbon
emissions, integrated ethylene cracker and derivatives site in
Fort Saskatchewan, Alberta.
- Outlined a detailed roadmap to reduce current CO2
emissions from operations in Terneuzen, the Netherlands, by more than 40% by
2030.
- Expanded access to renewable energy to more than 900 megawatts,
maintaining Dow's position as one of the top 20 global corporations
using renewable, clean energy.
Accelerating sustainability investments to enable design for
recyclability and more circular plastics.
- Scaling supply partnerships with companies such as Mura
Technology and Fuenix to produce circular feedstocks from advanced
recycling processes.
- Announced commitment to delivering circular polymers from
advanced recycling by the end of 2022.
- Investing in collaborative actions to minimize and manage
plastic waste through partnerships such as the Alliance to End
Plastic Waste.
Taking deliberate actions to drive inclusion, diversity and
equity.
- Introduced new global paid-time off policies that provide
employees with equal opportunity for parental leave, to take care
of their families, and to volunteer and engage in Employee Resource
Group (ERG) activities.
- Exceeded annual representation improvement goals for U.S.
Ethnic minorities (26%), women globally (28.9%), and women in
people leadership globally (35.3%).
- Linked inclusion and diversity metrics to the annual
performance award program for all people leaders and senior
directors, where legally permissible.
Mobilizing alliances of diverse stakeholders to create
meaningful social change.
- Increased the Company's commitment to $13 million for Dow ACTs, a framework designed to
address systemic racism and inequality.
- Joined OneTen, a coalition of businesses that have pledged to
upskill, hire and advance 1 million Black individuals in the U.S.
over the next decade.
- Invested $2 million in seed
grants for projects in 12 countries, including infrastructure
projects that help keep plastic waste out of the environment and
back into the circular economy.
Improving governance, transparency and
accountability.
- Raised the bar on ESG reporting and disclosures through
improved carbon emissions reporting and improved climate risk
disclosures and greenhouse gas intensity metrics.
- Continued diversifying the Dow board, electing three new
members in 2021 and 2022.
- Working with the World Economic Forum's International Business
Council to help develop consistent international frameworks for ESG
reporting and accounting standards.
The 2021 "INtersections" ESG Report includes disclosures
prepared in accordance with the Global Reporting Initiative (GRI)
Standards: Comprehensive option and the Greenhouse Gas (GHG)
Protocol. In addition to the GRI and GHG, the report reflects
disclosures aligned with the Taskforce on Climate-related Financial
Disclosures (TCFD), Sustainability Accounting Standards Board
(SASB), and World Economic Forum (WEF) Stakeholder Capitalism
Metrics. Dow engaged Deloitte & Touche, LLP to perform a review
engagement on management's assertion related to disclosures
prepared and presented in accordance with the Global Reporting
Initiative Sustainability Reporting Standards under its
Comprehensive option as of, and for the year-ended December 31, 2021 and related to Scope 1 and
Scope 2 emissions prepared and presented in accordance with the
Greenhouse Gas Protocol Corporate Accounting and Reporting
Standards under its Corporate Standards for the year-ended
December 31, 2021.
To learn more about Dow's industry-leading contributions toward
a better, more sustainable and equitable future, please read its
comprehensive 2021 ESG Report here.
About Dow
Dow (NYSE: DOW) combines global breadth;
asset integration and scale; focused innovation and materials
science expertise; leading business positions; and environmental,
social and governance (ESG) leadership to achieve profitable growth
and deliver a sustainable future. The Company's ambition is to
become the most innovative, customer centric, inclusive and
sustainable materials science company in the world. 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, mobility and consumer
applications. Dow operates 104 manufacturing sites in 31 countries
and employs approximately 35,700 people. Dow delivered sales of
approximately $55 billion in 2021. 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.
For further information, please contact:
Media:
Kyle Bandlow
kbandlow@dow.com
+1 989-638-2417
Twitter: https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram: http://instagram.com/dow_official
Cautionary Statement about Forward-Looking Statements
Certain statements in this report are "forward-looking
statements" within the meaning of the federal securities laws,
including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements often address expected future business and
financial performance, financial condition, and other matters, and
often contain words or phrases such as "anticipate," "believe,"
"estimate," "expect," "intend," "may," "opportunity," "outlook,"
"plan," "project," "seek," "should," "strategy," "target," "will,"
"will be," "will continue," "will likely result," "would" and
similar expressions, and variations or negatives of these words or
phrases.
Forward-looking statements are based on current assumptions and
expectations of future events that are subject to risks,
uncertainties and other factors that are beyond Dow's control,
which may cause actual results to differ materially from those
projected, anticipated or implied in the forward-looking statements
and speak only as of the date the statements were made. These
factors include, but are not limited to: sales of Dow's products;
Dow's expenses, future revenues and profitability; the continuing
global and regional economic impacts of the coronavirus disease
2019 ("COVID-19") pandemic and other public health-related risks
and events on Dow's business; any sanction, export restrictions,
supply chain disruptions or increased economic uncertainty related
to the ongoing conflict between Russia and Ukraine; capital requirements and need for and
availability of financing; unexpected barriers in the development
of technology, including with respect to Dow's contemplated capital
and operating projects; Dow's ability to realize its commitment to
carbon neutrality on the contemplated timeframe; size of the
markets for Dow's products and services and ability to compete in
such markets; failure to develop and market new products and
optimally manage product life cycles; the rate and degree of market
acceptance of Dow's products; significant litigation and
environmental matters and related contingencies and unexpected
expenses; the success of competing technologies that are or may
become available; the ability to protect Dow's intellectual
property in the United States and
abroad; developments related to contemplated restructuring
activities and proposed divestitures or acquisitions such as
workforce reduction, manufacturing facility and/or asset closure
and related exit and disposal activities, and the benefits and
costs associated with each of the foregoing; fluctuations in energy
and raw material prices; management of process safety and product
stewardship; changes in relationships with Dow's significant
customers and suppliers; changes in consumer preferences and
demand; changes in laws and regulations, political conditions or
industry development; global economic and capital markets
conditions, such as inflation, market uncertainty, interest and
currency exchange rates, and equity and commodity prices; business
or supply disruptions; security threats, such as acts of sabotage,
terrorism or war including the ongoing conflict between
Russia and Ukraine; weather events and natural disasters;
disruptions in Dow's information technology networks and systems;
and risks related to Dow's separation from DowDuPont Inc. such as
Dow's obligation to indemnify DuPont de Nemours, Inc. and/or
Corteva, Inc. for certain liabilities.
Where, in any forward-looking statement, an expectation or
belief as to future results or events is expressed, such
expectation or belief is based on the current plans and
expectations of management and expressed in good faith and believed
to have a reasonable basis, but there can be no assurance that the
expectation or belief will result or be achieved or accomplished. A
detailed discussion of principal risks and uncertainties which may
cause actual results and events to differ materially from such
forward-looking statements is included in the section titled "Risk
Factors" contained in the company's Annual Report on Form 10-K for
the year ended December 31, 2021 and
its subsequent reports on Form 10-Q and Form 8-K. These are not the
only risks and uncertainties that Dow faces. There may be other
risks and uncertainties that Dow is unable to identify at this time
or that Dow does not currently expect to have a material impact on
its business. If any of those risks or uncertainties develops into
an actual event, it could have a material adverse effect on Dow's
business. Dow assumes no obligation to update or revise publicly
any forward-looking statements whether because of new information,
future events, or otherwise, except as required by securities and
other applicable laws.
®™ Trademark of The Dow Chemical Company ("Dow") or
an affiliated company of Dow
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SOURCE The Dow Chemical Company