Month: June 2024

Our colleagues are shaping a more sustainable future in collaboration with our customers, value chain partners, communities and many stakeholders. Together, we are building a stronger company with competitive advantages and a more resilient world.

When asked what sets Dow apart, I often start with our exceptional team’s ambition to be the world’s most innovative, customer-centric, inclusive and sustainable materials science company. Fueled by the passion of Team Dow, our ambition inspires best-in-class performance and contributes to long-term value creation for our customers, shareholders and society.

In 2023, we put our ambition into action in important ways, while also increasing our accountability and transparency. We responded to our customers’ demand for products, technologies and services that are lower-emissions, more circular, and continue delivering performance benefits. Through our Decarbonize & Grow and Transform the Waste strategies, we progressed our sustainability targets for greenhouse gas (GHG) emissions reductions and to help end plastic waste. We also took steps to build an even greater culture of inclusion, diversity and equity (ID&E) in our workplace and communities. We did this through strategic collaborations with external partners and with our employee resource groups (ERGs). Here is a summary of our 2023 progress.

Protecting the Climate

We are taking actions to both mitigate and adapt to climate change and have a clear pathway to reduce Scope 1 and 2 GHG emissions by approximately 15% by 2030 and simultaneously growing annual earnings by more than $3 billion.

In 2023, Dow’s Board of Directors approved the final investment decision for our Fort Saskatchewan Path2Zero project in Alberta, Canada. This paved the way for us to begin construction on the world’s first net-zero scope 1 and 2 GHG emissions integrated ethylene facility and derivatives site, which will decarbonize approximately 20% of our global ethylene capacity and grow our polyethylene supply by about 15%.To help meet our need for safe, reliable, zero-emissions power and steam, we selected our site in Seadrift, Texas, for a proposed collaboration with X-Energy to construct a grid-scale advanced nuclear reactor – which would be the first of its kind for an industrial site in North America.We set the groundwork to update our Water & Nature strategy to include new goals focused on building resilience in the places where we operate. We also achieved our ambitious 2025 Valuing Nature Goal by realizing $1.2 billion in net present value from business-driven projects that enhance nature.

Advancing a Circular Economy and Safer Materials

Through our Transform the Waste strategy, Dow is working across the value chain to eliminate plastic pollution and help meet the growing demand for recycled and renewable solutions. With a partnership approach and innovative technologies, we expect to realize more than $500 million in incremental earnings per year by 2030 as we commercialize 3 million metric tons of circular and renewable solutions annually.

With the mechanical completion of the Valoregen and Mura Technology recycling facilities in late 2023, we took important steps to become a major off-taker of lower GHG-emissions, circular feedstocks. Valoregen’s 15,000 metric ton mechanical recycling plant in France and Mura’s 20,000 metric ton advanced recycling plant in the United Kingdom will provide Dow with recycled feedstock for the production of new, high-value plastic products.We announced a collaboration with New Energy Blue to transform agricultural residue in the form of corn stover into bio-based ethylene used to make plastics.We also are using our materials science expertise to enable brands to quickly bring to market sustainable solutions for plastic packaging and other applications. For example, in 2023, we collaborated with LVMH Beauty on the use of bio-based and circular plastics for cosmetic packaging with our SURLYN™ REN and CIR Ionomers.

Cultivating a Thriving Team and Community

Our commitment to ID&E plays a critical role in enhancing our competitiveness and innovation. By building a diverse team and fostering inclusion in our workplace, we are enhancing our ability to create innovative solutions and deliver long-term business success.

Our employee resource groups (ERGs) remain a valuable platform for advancing inclusion and driving profitable growth. In 2023, we increased our best-in-class ERG participation by 4 percentage points over 2022, with nearly 61% of employees participating in one or more of our 10 ERGs.Our ID&E efforts earned external recognition through industry-leading awards and certifications in 2023. Dow was recognized for the first time by Great Place To Work® and FORTUNE as one of the World’s Best Workplaces™ — a recognition provided to only 25 companies in the world.We significantly outpaced our industry peers on leadership diversity, with 50% of our executive team reporting as women and/or U.S. ethnic minorities. Our Board of Directors also continues to outpace the S&P 500 on U.S. ethnic diversity.In 2023, we reimagined our global citizenship strategy to more closely align to Dow’s ambition. Through this work, we partnered with 640 nonprofits, educational institutions and other community organizations to accelerate social change and create a more sustainable and equitable future.

Driving Accountability and Best-in-Class Performance

How we do business is just as important to our success as what we do. That’s why we continued to strengthen our governance practices and further our commitment to transparency and accountability throughout 2023.

We enhanced disclosures for Board of Director qualifications, enterprise risk management and leadership succession planning.We refreshed the Dow Code of Conduct in alignment with industry best practices.Our 2023 environmental, social and governance disclosures were aligned to five leading standards and frameworks – GRI (Global Reporting Initiative), Greenhouse Gas Protocol, Taskforce on Climate-related Financial Disclosures, Sustainability Accounting Standards Board, and World Economic Forum Stakeholder Capitalism Metrics.

I’m proud of what Team Dow accomplished in 2023 to create value and advance our ambition. Our colleagues are shaping a more sustainable future in collaboration with our customers, value chain partners, communities and many stakeholders. Together, we are building a stronger company with competitive advantages and a more resilient world.

Best regards,

Jim Fitterling
Chair and Chief Executive Officer

In a bold stride towards reshaping urban transportation, DP World has successfully coordinated the delivery of four monorail cars from the United Kingdom to the Dominican Republic, showcasing our commitment to driving efficiency in global logistics. 

These monorail cars are part of a transformative public transportation project designed to alleviate urban congestion in Santiago, one of the Caribbean’s bustling urban hubs. This operation was not just about moving large items from one point to another; it represented a sophisticated exercise in global logistics, demonstrating DP World’s extensive capabilities in handling specialized cargo.

DP World not only demonstrated its prowess in managing intricate global logistics operations but also reinforced its commitment to spearheading innovative and sustainable transportation solutions.

A Seamless Journey Across the Seas

The journey of the monorail cars was meticulously planned and executed. Produced by Alstom in the UK, the cars were first transported to DP World’s London Gateway Port, a fully integrated logistics hub servicing the region. From there, they traversed the Atlantic Ocean to DP World Saint John on Canada’s east coast, and then further south to the Port of Caucedo in the Dominican Republic. Upon arrival, the cars were moved via the Duarte highway and the North Ring Road to their new home in Cienfuegos, heralding the onset of a new era in public transportation for the region.

Sustainable Transport for a Sustainable Future

The arrival of these monorail cars in the Dominican Republic marks a significant leap toward modernizing the country’s urban infrastructure. Managed by the Office for the Development of Urban and Interurban Mobility Projects under the Trust for the Development of the Mass Transportation System of the Dominican Republic (FITRAM), this project is poised to transform public transportation in Santiago. 

Offering a sustainable and efficient alternative to road travel, the monorail system will improve the quality of life for residents and contribute to the economic vitality of the region. Each car can carry 580 passengers and will play a crucial role in reducing traffic congestion and providing a quick, eco-friendly alternative to traditional road transport.

A Testament to Global Coordination and Sustainability

This project serves as a testament to the power of DP World’s global network and our ability to leverage real-time communication and feedback across multiple countries to ensure efficient and traceable movement of cargo. Our operation highlighted not only our expertise in managing specialized cargo but also our commitment to providing cost-effective logistic solutions that support sustainable global trade.

Looking Ahead: A Commitment to Growth and Sustainability

As we look forward, DP World Dominicana remains dedicated to enhancing our logistics services and infrastructure to support the growth and development of the Dominican Republic as a key player in global trade and logistics. The successful delivery of the monorail cars is just the beginning of our journey towards revolutionizing urban mobility and fostering a sustainable future for our communities.

RUEIL-MALMAISON, France, June 26, 2024 /3BL/ – Schneider Electric, the leader in the digital transformation of energy management and automation, has topped the “World’s Most Sustainable Companies for 2024” list by Time magazine and Statista. This recognition reflects Schneider Electric’s ambitious goals to reduce its own emissions, but also the company’s commitment to helping its customers to become more energy efficient and reduce their emissions.

Time and Statista used a transparent, multi-stage methodology to identify the world’s most sustainable companies for 2024. The process began with a pool of over 5,000 of the world’s largest and most influential companies. Following a rigorous four-stage assessment, the final ranking excluded unsustainable industries and considered factors like external sustainability ratings and commitments, corporate reporting practices, and environmental and social performance indicators. This comprehensive approach produced a ranking of 500 companies from over 30 countries.

Both Time and Statista highlighted Schneider Electric’s technological expertise and the Schneider Sustainability Impact (SSI) program. This transformative program drives and measures the company’s progress toward global sustainability 2021–2025 targets contributing to six long-term commitments that cover all environmental, social, and governance (ESG) dimensions. Among this progress, the company helped customers reduce their carbon emissions, with 553 million tonnes of CO2 saved and avoided since 2018. The company has also made significant progress in transforming its own supply chain. Carbon emissions from Schneider Electric’s top 1,000 suppliers fell by 27% since the beginning of the program — and 21% of the company’s most strategic supply chain partners have met Schneider Electric’s decent work standards.

“We are incredibly honored to be recognized as the world’s most sustainable company,” said Peter Herweck, CEO of Schneider Electric. “This achievement is a testament to our unwavering commitment to sustainability, which is embedded in everything we do. We consider the environment, society, and good governance in our decisions and daily operations. That’s why we’re pushing hard to make even more progress on our sustainability goals and ensure everyone contributes to creating a positive and enduring impact”.

Schneider Electric was also recently included in the Dow Jones Sustainability World Index for the 13th consecutive year, ranked #1 in its industry and secured its place in the Europe index. This achievement reflects its strong environmental, social, and governance (ESG) performance, with sustainability at the core of its strategy.

Related resources

World’s Most Sustainable Companies 2024 | TIMETIME/Statista World’s Most Sustainable Companies 2024 Methodology | TIME

About Schneider Electric 

Schneider’s purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

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