Month: March 2024

In the era of the “poly-crisis” in which as many as 130 million people are displaced due to conflict and human rights violations, and climate change is worsening ongoing hunger crises, everyday health challenges such as heart disease and diabetes continue to require routine care from trained community-based health care workers. Most of the world’s frontline health workers – more than 70% – are women, and during an emergency, they experience the same level of disruption as the people they serve; they may lose their homes and livelihoods, and yet they are still the ones providing care in their communities. Their role is invaluable in addressing the specific needs of the new emergency and helping community members face and manage ongoing and underlying health challenges.

To help address non-communicable diseases (NCDs) in emergency contexts, the humanitarian organization CARE and the global healthcare company Abbott have worked together since 2019 to create an effective model of care to screen and prevent diabetes and hypertension in a humanitarian setting, and to provide these learnings to local government for replication and scale.

In the Marawi region of the Philippines, where large numbers of people were uprooted from their homes due to a protracted emergency, many people also struggle with NCDs like diabetes and hypertension. CARE and Abbott have worked with health workers like Jaslia Abbas who was trained as a midwife in Marawi until an armed conflict destroyed local health infrastructure. Jaslia was one of more than 350,000 people who were displaced by the fighting when she, her husband and their five children moved into a tent and later a temporary shelter. With support from CARE, Abbott, and the Abbott Fund, Jaslia and other healthcare workers applied their expertise to fill in gaps in the medical system by creating more than 30 “NCD Clubs” in six locations which provide peer support to community members who are experiencing or are at-risk for various NCDs. Jaslia and other community health workers took glucose readings, referred peers to the health system, and shared information about preventive health care.

By the second year, the program results were significant, showing an 80% reduction in cardiovascular events and a 9% reduction of glucose levels in the diabetic range. Additionally, 97% of the NCD club members reported weekly physical activity, and the government health system experienced a 100% increase in patients receiving diabetes services, which not only addressed chronic diseases, but also provided the data needed to justify greater investment in the health system. The program also raised the profile of women healthcare workers as a valuable resource in their community with important knowledge and influence, which in turn may help reduce gender inequities.

In 2023, the program focused on providing the local government with technical assistance to strengthen health systems, support for continuity of medicines and supplies, and learnings to ensure sustainability and scale-up of the program. The model has now been integrated into the primary health facilities, and more health workers have been hired to coordinate NCD outreach.

To learn more about CARE and Abbott’s work in Marawi, Philippines to support frontline health workers, please watch this conversation at the U.S. Chamber of Commerce Foundation’s 14th Annual International Women’s Day Forum on February 28, 2024 between Ritu Sharma, VP of US Programs and Advocacy from CARE USA, Kathryn McKenzie, Divisional Vice President, Global Citizenship and Sustainability, Abbott, and Shanique Street, Executive Director, Programs at the U.S. Chamber of Commerce Foundation: https://www.uschamberfoundation.org/corporate-social-responsibility/strengthening-global-health-investing-in-women-frontline-workers

DUBAI, United Arab Emirates, March 19, 2024 /3BL/ – FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, is expanding its footprint in the Middle East with its new Middle East, Indian Subcontinent and Africa (MEISA) state-of-the-art hub at Dubai World Central (DWC) Airport in Dubai South. The facility was officially inaugurated by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, along with Raj Subramaniam, FedEx Corporation President and CEO, Richard W. Smith, FedEx Express President and CEO, Airline and International, and Kami Viswanathan, FedEx Express MEISA President.

The launch of the hub marks a long-term investment of more than USD 350 million (approximately AED 1.3 billion) into the UAE’s economy through infrastructure and technological advancements in the facility. This investment reaffirms the company’s commitment to the UAE’s economic growth, in line with the ‘National Agenda for Non-oil Export Development’, which aims to increase the nation’s foreign trade[1].

In his comments, His Highness Sheikh Ahmed bin Saeed Al Maktoum, said: “The inauguration of the FedEx MEISA hub in Dubai South is a strategic milestone for Dubai’s aviation and logistics sectors, consolidating the emirate’s robust infrastructure, strategic location, and our ongoing efforts to enhance global connectivity. As we continue to strengthen Dubai’s position as a leading business hub, this new facility underscores our commitment to supporting the growth of trade and commerce, aligning perfectly with our vision for economic diversification and innovation-led development.”

“The establishment of our new hub in the UAE is a strategic move that significantly boosts our presence and capabilities in the MEISA region. This investment is not just about expanding our network; it’s about enhancing the region’s connectivity and playing a key role in facilitating trade and commerce across the world,” said Richard W. Smith, FedEx Express President and Chief Executive Officer, Airline and International. “Given the UAE’s current status among the top five countries in global re-export operations[2], our regional hub not only aims to serve the MEISA region, which accounts for approximately 45% of the world’s population, but is also a crucial part of our global air network that connects 220 countries and territories.”

“At Dubai South, our mandate is to support the government’s economic diversification efforts through the different services and solutions that we provide to local and international companies, complemented by our state-of-the-art infrastructure. We are delighted to welcome the new FedEx facility, which will serve as a regional hub contributing to the growth of the emirate’s top sectors, aviation and logistics, while catalyzing its role in the wider development of an economy centered on innovation and technology,” said HE Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South.

“The new FedEx hub marks a pivotal stride in our growth strategy to build a more flexible, efficient, and smart network, to deliver outstanding services that fit our customers’ needs. Harnessing cutting-edge technology, our hub at DWC in Dubai South exemplifies our commitment to transforming our operations through automation and building a smarter and more sustainable logistics network,” said Kami Viswanathan, President of FedEx Express Middle East, Indian Subcontinent and Africa.

The 57,000 sq. m facility incorporates advanced technologies that includes automated sort systems that enhance the efficiency, accuracy, and speed of package processing and distribution from the facility. The hub also boasts two automated high-speed x-ray machines equipped with artificial intelligence, to efficiently scan goods and enhance security. Additionally, a 170 sq. m cold storage area caters to a wide range of temperature-sensitive shipments.

The new FedEx hub is also a testament to the company’s commitment to sustainability and our goal of achieving carbon-neutral operations by 2040. The facility adheres to Dubai Municipality Green Standards, featuring a solar power project, and a building management system that helps ensure efficient energy use. In addition, FedEx is leveraging electric ground service fleet along with electric charging stations for pick-up, delivery, and employee vehicles.

Situated in DWC, at the heart of Dubai South, the hub forms an integral component of the region’s aviation and logistics ecosystem. This strategic location is further enhanced by a comprehensive multi-modal transportation network, seamlessly connecting air, land, and sea.

[1] https://uaecabinet.ae/en/details/news/uae-cabinet-approves-national-agenda-for-non-oil-export-development

[2] https://wam.ae/en/details/1395303174739

TOLEDO, Ohio, March 19, 2024 /3BL/ – Owens Corning (NYSE: OC) today published its 2023 Sustainability Report, Making the Difference, outlining the company’s progress toward its 2030 sustainability goals.

“Owens Corning demonstrated outstanding financial and sustainability results in 2023, showcasing the power of our company’s mission to build a sustainable future through material innovation,” said Board Chair and Chief Executive Officer Brian Chambers. “This report reflects the global scope of our people and our products and the many ways they work to make the world a better place.”

This marks the 18th sustainability report from Owens Corning, which published its first report in 2006.

“Our 2030 sustainability goals are growing ever closer, and we believe that the targets we have set for ourselves are well within our reach,” said David Rabuano, senior vice president and chief sustainability officer. “This confidence is the result of our employees’ unparalleled engagement and enthusiasm for our mission coupled with our investments in the innovation required to execute new solutions.”

Notable accomplishments outlined in this year’s report include:

Product innovation: Across all its businesses, Owens Corning offers an extensive portfolio of products that can help customers save energy and lower emissions. In 2023, 59% of the company’s revenue came from this category of products. In addition, 14 products are certified as made with 100% renewable electricity. These products make up 25% of the company’s total revenue.Reducing greenhouse gas emissions: The company achieved a 28% reduction in Scope 1 and 2 emissions from a 2018 baseline. These results move Owens Corning closer to its goal of a 50% reduction in absolute Scope 1 and 2 market-based GHG emissions by 2030.Circular economy: The company made progress toward its efforts to recycle two million tons of shingles per year in the U.S. by 2030. In late 2022, the company and its partners launched an asphalt shingle recycling pilot program developed to deconstruct residential and industrial waste shingles and extract their component materials. In 2023, the facility successfully achieved shingle deconstruction, extracting asphalt, granules, and filler. The process is designed to reclaim the entire shingle to avoid any components of the product going to waste.Waste: In 2023, Owens Corning reduced the amount of waste sent to landfills by 14% compared to a 2018 baseline. The company is working to develop capabilities for reducing, recycling, and diverting its waste streams, both internally and with external partners. To accelerate internal recycling capabilities, the company built its first Circular Economy Recycling Technology Innovation Laboratory at our Science & Technology Center in Granville, Ohio, U.S.Employee safety: In 2023, the company’s recordable incident rate was 0.60, which is 81% below the industry average, as reported by the U.S. Bureau of Labor Statistics.Inclusion and diversity: Representation is on-track to meet 2030 goals for women and people of color in leadership roles, with improvement in representation deeper in our talent pipeline for women and people of color.

The report was prepared in accordance with the Global Reporting Initiative (GRI) Standards. In addition, the report addresses disclosures and material issues related to CDP (formerly the Carbon Disclosure Project), the S&P Global Corporate Sustainability Assessment (CSA) and Dow Jones Sustainability Index (DJSI), the United Nations Sustainable Development Goals (SDGs), UN Global Compact Communication on Progress, and other stakeholders’ requests, including the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).

Detailed information about the company’s sustainability strategy, goals, and progress are available at owenscorning.com/sustainability.

About Owens Corning

Owens Corning is a global building and construction materials leader committed to building a sustainable future through material innovation. Our three integrated businesses – Roofing, Insulation, and Composites – provide durable, sustainable, energy-efficient solutions that leverage our unique material science, manufacturing, and market knowledge to help our customers win and grow. We are global in scope, human in scale with approximately 18,000 employees in 30 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2023 sales of $9.7 billion. For more information, visit www.owenscorning.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “aspire,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” and similar expressions and variations or negatives of these words.

Forward-looking statements include statements that relate to the purpose, ambitions, aspirations, commitments, targets, plans, objectives, and results of Owens Corning’s sustainability strategy. Forward-looking statements include statements related to the standards and measurement of progress against the company’s sustainability goals, including metrics, data and other information, which are based on estimates and assumptions believed to be reasonable at the time. The actual conduct of the company’s activities and results thereof, including the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected in connection with Owens Corning’s sustainability strategy may differ materially from the statements made herein. The use of the word “material” for the purposes of statements regarding our sustainability strategy and goals should not be read as equating to any use of the word in the company’s other disclosures or filings with the U.S. Securities and Exchange Commission.

These forward-looking statements are subject to risks, uncertainties and other factors and actual results may differ materially from any results projected in the statements. These risks, uncertainties and other factors include, without limitation: levels of residential and commercial or industrial construction activity; demand for our products; industry and economic conditions including, but not limited to, supply chain disruptions, recessionary conditions, inflationary pressures, interest rate and financial markets volatility, and the viability of banks and other financial institutions; availability and cost of energy and raw materials; levels of global industrial production; competitive and pricing factors; relationships with key customers and customer concentration in certain areas; issues related to acquisitions, divestitures and joint ventures or expansions, including the planned acquisition of Masonite International Corporation (“Masonite”); climate change, weather conditions and storm activity; legislation and related regulations or interpretations, in the United States or elsewhere; domestic and international economic and political conditions, policies or other governmental actions, as well as war and civil disturbance; changes to tariff, trade or investment policies or laws; uninsured losses, including those from natural disasters, catastrophes, pandemics, theft or sabotage; environmental, product-related or other legal and regulatory liabilities, proceedings or actions; research and development activities and intellectual property protection; issues involving implementation and protection of information technology systems; foreign exchange and commodity price fluctuations; our level of indebtedness, including the planned acquisition of Masonite; our liquidity and the availability and cost of credit; our ability to achieve expected synergies, cost reductions and/or productivity improvements; the level of fixed costs required to run our business; levels of goodwill or other indefinite-lived intangible assets; price volatility in certain wind energy markets in the U.S.; loss of key employees and labor disputes or shortages; our ability to complete and successfully integrate the Masonite acquisition; our ability to achieve the strategic and other objectives relating to the Masonite acquisition, including any expected synergies, and the strategic review of our global glass reinforcements business; defined benefit plan funding obligations; and factors detailed from time to time in the company’s Securities and Exchange Commission filings. The company does not undertake any duty to update or revise forward-looking statements except as required by federal securities laws.

Contacts

Media Relations: 
Megan James 
419.348.0768

Investor Relations: 
Amber Wohlfarth 
419.248.5639

Owens Corning Company News / Owens Corning Investor Relations News