The Dow Chemical Company ("Dow") released its 2017 Sustainability Report, detailing its progress against its 2025 Sustainability Goals and how Dow employees are helping drive value and deliver transformative and more sustainable ways to do business.
Highlights from the report include:
Generated $120 million in value for "Valuing Nature" projects
The role of business of Dow is as a catalyst for change - as a driver of innovations that improve life and the environment, while creating sustainable economic growth," said Jim Fitterling, Chief Executive Officer-elect, Dow. "With our ambitious 2025 Sustainability Goals, we have committed to make a difference and to help redefine the role of business in society. We will continue to drive science- and technology-based solutions for key global challenges such as marine debris, carbon emissions and water availability, collaborating alongside our customers, governments, NGOs and other important stakeholders."
The report covers a wide range of sustainability-related topics and was prepared in accordance with the Global Reporting Initiative (GRI) Standards Comprehensive Option. GRI is the most widely used framework for sustainability reporting used globally by businesses, governments and other organizations.
I am excited about our progress against our 2025 Sustainability Goals and how these goals are challenging us to rethink business models and product designs to help achieve shared value for Dow, our environment and society," said Neil Hawkins, chief sustainability officer and corporate vice president for Environment, Health & Safety, Dow. "These goals are delivering long-term value to Dow and sustainable solutions for our customers and society."
Specific goal highlights from this year's report include:
Leading the Blueprint: To help advance the goal of developing societal blueprints that integrate public policy solutions, science and technology, and value chain innovation, the goal team defined a pipeline of blueprint topics and launched the Watershed Management blueprint.
Delivering Breakthrough Innovation: In 2017, innovation teams were awarded a U.S. Presidential Green Chemistry Award, six R&D 100 awards for sustainability-related products and an EPA Safer Choice Partner of the Year award.
Advancing a Circular Economy: Dow is collaborating with a wide range of stakeholders to identify business models that enable a more circular economy. Last year, Dow launched quantitative studies to reduce plastic waste in Japan and helped the Indonesian government to turn plastic waste into sustainable roads.
Valuing Nature: Dow exceeded its 2017 target by generating $120 million in cost savings or new cash flow from projects that are good for business and better for ecosystems. The goal is to identify and implement business-driven project alternatives that best enhance nature and deliver $1 billion in net present value to Dow by 2025.
Safe Materials for a Sustainable Planet: Dow initiated the Product Stewardship Academy with outreach in Kenya, Nigeria and Ghana to promote product safety and received a LAUNCH Chemistry award for development of predictive safety assessment tools.
Engaging for Impact: Communities, Employees and Customers: In 2017, Dow invested $39.74 million in corporate and foundation contributions, and more than 3,000 Dow employees acted as science, technology, engineering and math (STEM) ambassadors - supporting more than 2,500 teachers and impacting more than 380,000 students.
World-Leading Operations Performance: In 2017, Dow reduced its freshwater intake intensity at water-stressed sites by 5 percent from the 2015 baseline - achieving significant progress toward the 2025 goal of a 20 percent reduction. To help achieve its goal to maintain its total recordable injury and illness at industry-leading levels, Dow also implemented new technologies to remove workers from higher-hazard activities. Technologies include robotics to eliminate the need for confined space entry and drones to bypass certain elevated work.
Since 2003, Dow has been reporting to the highest and most comprehensive level of guidance from the Global Reporting Initiative (GRI).