Tag: 3BL

Elisabeth von Reitzenstein, SAC Senior Director of Public Affairs, was a key speaker in a critical discussion on due diligence at the AAFA Traceability & Sustainability Conference on July 26th in Boston, MA. Hosted by the AAFA, the panel was moderated by Joe Walkuski of Texbase and also included Susanne Gebauer, Senior Assessment & Quality Manager at the Social & Labor Convergence Program (SLCP), Linda Kromjong, President of amfori, and Avedis Seferian, President and CEO of Worldwide Responsible Accredited Production. The talk centered around critical efforts of businesses in the apparel and footwear industry to achieve sustainability goals while staying competitive in an ever-changing market.

As von Reitzenstein shared, the Sustainable Apparel Coalition brings together nearly 50% of the global apparel and footwear supply chains — from global brands and retailers to manufacturers, NGOs, academics, and industry associations — in a pre-competitive space to collaborate for impact on its most urgent and systemic challenges. The SAC’s use of groundbreaking tools like the Higg Index helps foster collaborative partnerships and drive change.

At the SAC, von Reitzenstein leads global activities in public affairs, policy, and advocacy to execute on the mission to transform business for exponential impact — and create a more sustainable, equitable, and just world for all. Together with the other panelists, she outlined how SAC works together with other organizations to ensure that the industry can and will comply with emerging regulations while helping to avoid the duplications of efforts.

“In order to effectively support our members, we cannot just focus on one piece of legislation but must analyze several in relation to the Higg Index tools,” von Reitzenstein said. She outlined how the Higg tools align with best industry practice standards, connecting the dots between how the Higg Facility Social & Labour Module (FSLM) integrates with the Social and Labor Convergence Program (SLCP), as well as how a major update to the Higg Brand & Retail Module (BRM) aligns with best-in-class industry standards. “Our Higg Index tools don’t just provide a standardized measurement of value chain sustainability, but also support companies with relevant, compliant disclosure,” she said.

The panel discussed European due diligence legislation including the Corporate Sustainability Due Diligence Directive (CSDDD), Corporate Sustainability Reporting Directive (CSRD), German Due Diligence Act, and the EU Forced Labour Regulation — all of which were deemed promising for the global sustainability agenda as disclosures are increasingly considered necessary to responsible corporate behavior.

As due diligence in the EU evolves, von Reitzenstein said, the SAC continues to prioritize mapping and analysis in order to build a broad picture of the landscape, and remains committed to transparently sharing its findings. This analysis feeds into the development of tools that support SAC members as they navigate and meet new and evolving regulations.

The panel concluded by emphasizing the importance of working together. As von Reitzenstein put it: “Cooperation with other stakeholders is key. We’re already doing a lot but can always do more — we might not be at the beginning but we are also not at the end of that journey.”

ROTTERDAM, Netherlands and FERRARA, Italy, August 2, 2023 /3BL/ — LyondellBasell (NYSE: LYB) has completed the acquisition of Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland. Mepol S.r.l. and its subsidiaries Polar S.r.l. and Industrial Technology Investments Poland Sp.z.o.o, will be subsidiaries in LyondellBasell’s Advanced Polymer Solutions (APS) business unit.

LyondellBasell’s APS segment produces and markets compounding solutions, such as polypropylene compounds, engineered plastics, masterbatches, engineered composites, colors and powders and is a global leader in compounding solutions.

“The acquisition is forward-thinking and aligned with our commitment to a circular economy,” said Torkel Rhenman, executive vice president Advanced Polymer Solutions of LyondellBasell. “With Mepol’s deep expertise in recycled compounds and LyondellBasell’s strategy and scale, we see significant opportunities to accelerate the growth of our APS business by leveraging macro trends in circularity and creating solutions for everyday sustainable living.”

LyondellBasell is building a leadership position to address the rapidly growing demand for circular and renewable solutions with innovative products and technologies through its integrated value chain approach. The company is committed to produce and market at least 2 million metric tons of polymers from recycled or renewable-based sources annually by 2030, to meet its customers’ needs.

Jones Day and Wardynski & Partners served as LyondellBasell’s legal advisors on the transaction. Special Affairs S.r.l. served as Mepol Group’s financial advisor and Gitti & Partners acted as its legal advisor.

About LyondellBasell 
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

About Mepol Group 
With thirty years of experience, Mepol integrates sustainability across its industrial strategy, in the planning and control of its plastics recycling activities and in the production of thermoplastic compounds. Corporate social responsibility has always been a strategic asset for Mepol which, owing to a continuous research and development activity, has led to its focus on eco-sustainable products for various applications, from furniture to automotive, to the electrical and electronic sectors.

The group’s mission is to accompany the customer in its transition path to recycled products and to provide waste management and packaging recovery services in support of regulatory requirements and extended producer responsibility.

For the second consecutive year, Mepol received recognition for the top 100 companies in Italy that stood out for the ESG score: the Sustainability Award promoted by KON, Credit Suisse and Forbes.

Cautionary Note Regarding Forward-looking Statements for LyondellBasell 
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially from the projections, anticipated results, or other expectations expressed in this release, including, but not limited to,  our ability to successfully integrate and operate the acquired business described in this release; and general economic conditions in geographic regions or markets served by LyondellBasell and its affiliates, or where operations of the Company and its affiliates are located. While these statements and projections are made in good faith, LyondellBasell and its management cannot guarantee that anticipated future results will be achieved. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov

Originally published on HARMAN Newsroom

Since 2022, the list of industry accolades for HARMAN’s Automotive division has continuously grown — with no signs of stopping.

We are thrilled to announce that HARMAN has received multiple prestigious awards in recognition of our unwavering commitment to manufacturing and quality excellence within the automotive industry. These accolades serve as a testament to the hard work, dedication, and innovative spirit of our team, as we continue to push boundaries and deliver exceptional products to our valued customers. Join us as we celebrate these achievements that propel us forward on our journey towards automotive excellence.

Below is an overview of the awards and certifications HARMAN Automotive has achieved since July 2022:

Excellence in Energy Management Award: HARMAN’s Pune, India facility was recognized as an “Energy Efficient Unit” by a panel of judges at the 23rd National Award for Excellence in Energy Management. Nearly 70 automotive and engineering companies were in the running while only 30 companies walked away with an award.

GM Customer Care & Aftersales On-Time Shipping Award: Our distribution center in El Paso, Texas, USA was recognized by GM for its dedication and commitment to consistently performing above expectations and shipping on time.

GM Supplier Quality Excellence Awards: GM has awarded HARMAN with three Supplier Quality Excellence Awards in Queretaro & Juarez, Mexico. This award recognizes GM’s top performing supplier manufacturing locations that have met or exceeded very stringent quality performance criteria and have also received cross-functional support by the entire GM organization for the 2022 calendar year.

Golden Peacock National Quality Award: For two years in a row, this coveted recognition was awarded to HARMAN’s Pune, India facility. Companies are assessed based on zero pollutant discharge, monitoring & measurement, employee & leadership commitment, and more.

Subaru of Indiana Commodity Leader Award for High Content: In Queretaro & Juarez, Mexico, we were awarded for our ability to deliver products at high volume with high complexity. This is our second time and second year in a row that we have won this award.

ATA Motors Resilient Supply Chain Award: For two consecutive years, TATA Motors awarded HARMAN its Resilient Supply Chain Award based on an outstanding evaluation of launch, supplier, process, and customer quality.

Toyota Best Supplier Logistics Award: In Manaus, Brazil, we received recognition from Toyota for being among the best logistics companies in the country with 100% deliveries and zero logistical incidents.

Volvo Cars Quality Excellence (VQE) Certification: HARMAN’s Dandong, China facility earned VQE certification, which recognizes suppliers that deliver high-quality goods & services, while being a supportive business partner.

From our state-of-the-art manufacturing facilities to our skilled workforce, these accolades affirm our commitment to setting new benchmarks and driving innovation within the industry. We owe this success to the passion and dedication of our employees, who consistently strive for excellence and deliver outstanding results. Thank you and congratulations to our employees globally for your hard work and collaboration!

Originally published on Rayonier.com

RED HILLS, Ala., August 2, 2023 /3BL/ – The extremely rare Red Hills Salamander is so elusive, no one knew it existed until 1960.

Even then, it was discovered by accident: Biologist Leslie Hubricht found the salamander while searching for snails in Butler County. It was not only a new salamander, but it belonged to a new genus and species all its own. Leslie named it Phaeognathus hubrichti.

As researchers tried to learn more about the long, dark amphibians, it soon became clear why they were so elusive: they prefer to live their entire lives in the safety of burrows in steep cliff sides. The heavily-shaded slopes in Alabama’s Red Hills region provide the perfect setting. The cool, wet environment keeps the salamanders moist, which is essential to their survival. They have no lungs and must breathe through their skin.

According to the U.S. Fish and Wildlife Service, there are about 60,000 acres of land on earth that would make a suitable Red Hills Salamander habitat. Within the range of potential habitat, about 20,000 acres where the habitat could exist is on Rayonier land. The area lies between the Alabama and Conecuh Rivers, as shown in this U.S. Fish and Wildlife Service map.

Identifying Red Hills Salamander Habitat

For many years, our foresters have played a role in protecting the federally-threatened species. Using advanced technology like LiDAR mapping, we examine the topography of our forest tracts in the region to ensure all potential Red Hills Salamander habitats are protected.

We also walk the properties, looking for what are called “indicator species.” These species also thrive in the area where the salamander lives and help us to identify the habitat. The Big Leaf Magnolia, which has massive, tropical-looking leaves, is an especially noticeable indicator. There are also certain ferns and mosses that indicate a strong likelihood of Red Hills Salamander habitat.

“We take a lot of pride in protecting this species to ensure it does not become endangered. We are very focused on identifying these areas and providing a protected, shaded buffer,” says Senior Timber Marketing Manager Billy Geier, who was once fortunate enough to see a salamander poke its head out of a burrow in one of our forests.

Protecting the Habitat

Once a habitat is located, our foresters ensure the area is protected.

In the forest, they’ll mark trees so everyone working near the area knows where the boundaries are. They will also digitally block off the habitat in our mapping system. This ensures no one plans forestry activities in that location.

Within the boundary, there will be no chemical applications, no heavy equipment, and no tree harvests within at least a 50-foot perimeter from the habitat in all directions. This ensures the salamander will continue to be shaded, cool and moist.

Our foresters are empowered to decide if measures beyond the recommended guidelines are required to protect this federally-listed species. For example, Timber Marketing Forester Tyler Baxter says his team has chosen to not even thin the trees within the habitat boundary to ensure sunlight doesn’t dry it out. When marking the areas, if the recommended 50-foot boundary doesn’t provide adequate shade for the habitat, they will expand the area to a 75- or 100-foot buffer.

“When we put these buffers in, we don’t allow any cutting behind it. None at all. We want to leave as much shade in the habitat as possible,” he says.

Just look at the photo below. The island of tall trees in the center is a protected Red Hills Salamander habitat.

What Researchers Have Learned So Far

While there is still much to be learned about the Red Hills Salamander, researchers have discovered everything it needs to survive is provided without leaving its burrow. The salamanders rarely venture out because they can eat small bugs at their burrows’ openings. Their diets include snails, insects, spiders and earthworms, according to this U.S. Fish and Wildlife Service article. They even breed underground: their burrows stretch several feet back in a maze of interconnected tunnels.

In addition to the habitats protected on our land, special properties have been set aside to protect the salamanders by entities including the Alabama Department of Conservation and Natural Resources, the Forever Wild Land Trust and the Alabama Chapter of the Nature Conservancy. You can learn more about their efforts and what they’ve learned about the salamanders in the online Encyclopedia of Alabama.

To learn more about Rayonier’s responsible stewardship, visit our website here.

At Common Impact, managing and navigating corporate and nonprofit partnerships is one of our specialties. We’ve learned valuable lessons about creating collaborative partnerships. Collaboration between companies and nonprofits can lead to transformative outcomes. By leveraging our expertise, corporate-nonprofit partnerships can accelerate solutions to our most pressing social challenges. Maintaining successful partnerships requires ongoing effort and attention. That’s why we’ve identified three key strategies that have contributed to the longevity and effectiveness of these partnerships.

Establish Clear Expectations and Goals: 

By actively listening to our corporate and nonprofit partners, we can understand what they need out of their skills-based volunteering programs with us. This allows us to align our efforts with their goals while ensuring the programs deliver tangible impact. In a successful nonprofit-corporate partnership, the nonprofit and corporate partners should share the same goal: delivering results and strengthening communities.

Establishing clear expectations and goals is fundamental to the success of these partnerships. By openly communicating the partnership’s purpose, desired outcomes, and individual roles, we set the stage for a collaborative and impactful relationship.

Remain Flexible and Adaptable: 

Each partner brings a unique set of perspectives, priorities, and approaches. By actively seeking areas of alignment, partners can devise solutions that benefit everyone involved.

Driving forces of creativity and innovation have played a pivotal role in propelling our organization forward. Our clientele is comprised of corporations from a variety of industries, including consumer goods, finance, insurance, energy, technology, and more. We constantly seek opportunities to engage with corporate clients from various sectors who share the goal of making a positive impact. For example, through these strategic collaborations, we have helped enhance the nonprofit sector’s technical, operational, marketing, and managerial capabilities through pro bono consulting Programs. Navigating and establishing open lines of communication has been pivotal in paving the way for successful skills-based volunteering initiatives. Embracing flexibility and openness to innovative approaches has ensured mutually beneficial outcomes for everyone involved.

Celebrate Successes and Milestones: 

Celebrating successes and milestones is essential for maintaining engagement, motivation, and a positive partnership dynamic, but it also strengthens the bond between nonprofit and corporate partners. Recognizing and acknowledging achievements reinforces the impact of the partnership and inspires others, attracting additional support and solidifying the commitment to long-term collaboration.

We understand the importance of sharing stories of impact to showcase our partnerships’ transformative power and how corporate volunteers help nonprofits build capacity. For instance, we recently highlighted the remarkable outcomes for nonprofit leaders and their organizations, such as Zion Escobar, CEO and President of Freedmen’s Town Community Investment Project. By sharing success stories like Zion’s, we demonstrate the tangible wins and the positive change that can result from our collaborations.

We also celebrate with our audience by amplifying skills-based volunteering through our signature event, Skills for Cities, held twice a year. This event serves as a cross-sector and cross-company collaboration platform, enabling companies to build nonprofit capacity.

If you would like to learn more about how we help companies achieve their employee engagement and social impact goals, we invite you to visit our events page.

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About Common Impact 
Common Impact is a national nonprofit that works to build a society in which individuals and businesses invest their unique talents towards a shared purpose: strengthening the local communities in which we live and work. Founded in 2000, Common Impact has partnered with Fortune 500 companies and hundreds of the country’s leading nonprofit organizations to create transformational change through skills-based volunteering. Learn more about Common Impact’s services, impact, and clients.

KeyBank celebrated its new full-service branch in Colorado Springs’ Northgate neighborhood July 28-29 with a celebration that included a ribbon cutting ceremony, family-friendly activities with prize giveaways and the distribution of $20,000 in grants to two local nonprofits. Located at 27 Spectrum Loop, Northgate is KeyBank’s first new branch in Colorado in over a decade.

To commemorate the new branch opening, KeyBank invested in two local nonprofit groups. Tri Lakes Cares and Mt. Carmel Veteran’s Center each received a $10,000 donation from Key to further their missions to help the Colorado Springs community.

“We are excited about the opportunity this new branch provides for us to become an integral part of the community in the Springs,” said Michael Katz, KeyBank’s Colorado market president. “Colorado Springs is a wonderful place to live, work and even start a business. This new location is our fifth branch here, and highlights Key’s continued investment in Colorado. We are excited to work more closely with our neighbors, clients and community partners.”

CONTACT: 

Laura Suter | Regional Communications Manager | 206.551.9000 | laura_suter@keybank.com

As the Medtronic Switzerland campus expanded in 2001 and again in 2009, its oil-fired heating and cooling equipment became obsolete and needed replacement.

François Monory, who led manufacturing at the site, saw this as the ideal opportunity to introduce a unique renewable energy concept he learned about years earlier: using water from nearby Lake Geneva to help heat and cool the buildings.

The hydrothermal energy project — dubbed ENERLAC — would pull water from the lake through underground pipes to a nearby site where heat pumps could convert energy from the water temperature to warm or cool the air in buildings across the campus. The water would then be returned to the lake with no impact to the local ecosystem while simultaneously reducing CO2 emissions.

The science behind the concept was simple, but planning and executing the complex initiative would take more than 14 years. Watch this video to learn more about how it happened.

“We studied this project with one ambition, that the cost of this investment must not exceed the cost of using fossil fuels over the next few years,” said Monory. “I underestimated the complexity of dealing with various state entities. Fortunately, I was surrounded by some talented people who helped make this very cool idea a reality.”

A small team at Medtronic worked with local contractors and government agencies to come up with a plan that everyone could agree on. In the Summer of 2020, during the global pandemic, crews began the three-year process of bringing ENERLAC to life without disrupting operations at the Medtronic facility.

By eliminating dependence on fossil fuels, ENERLAC reduced and stabilized energy costs at the site for the next 30 years while also drastically decreasing CO2 emissions by more than 80% — from 820 tons per year to approximately 150 tons per year. The project is an important step in helping Medtronic reach carbon neutrality in its operations by FY30 and achieving a net zero emissions target across the business by FY45.

In Tolochenaz, community leaders praised Medtronic and heralded the innovative project as an important part of the area’s ecological transition.

“Today with hindsight we can say this project was the right thing to do, but 10 years ago there weren’t many people who thought like that,” said Dr. Stéphane Genoud, Head of Energy Management at HES-SO Valais-Wallis University in Switzerland. “To have a company that decides over ten years to carry out a project like this means they really have a long term vision, and that’s quite original.“

Learn more about how Medtronic is minimizing our environmental footprint.

CHARLOTTE, N.C., August 2, 2023 /3BL Media/ – SEE® (NYSE: SEE), formerly Sealed Air, and ExxonMobil announced their collaboration on an advanced recycling initiative for food-grade plastics. SEE Australia will offer its CRYOVAC® brand preformed food packaging trays containing resins leveraging ExxonMobil’s ExxtendTM technology for advanced recycling and mass balance attribution. This collaboration will divert approximately 900 tonnes of plastic waste annually from landfill or incineration.

As one of the first such initiatives for fresh red meat trays in Australia, the collaboration addresses the critical challenge in driving a circular economy for food-grade plastics that have strict hygiene and performance requirements for food protection and distribution. The collaboration between SEE and ExxonMobil will help to advance the sustainable design of CRYOVAC® brand food packaging trays beyond recyclability by helping to improve plastics circularity.

In this project, SEE Australia will introduce the circular trays to the Australian market with the intention to move its entire Australian-made tray portfolio to the new solution by the end of 2023. The resins and tray manufacturing are certified to the International Sustainability and Carbon Certification (ISCC) PLUS standard, and the circular trays are curbside recyclable within Australia. The project will help support innovation to widen the range of plastics that can be recycled, while ensuring the safety and quality of packaged fresh foods.

“We are delighted to work with SEE on this important project and excited that our ISCC PLUS certified-circular plastics leveraging Exxtend technology and mass balance attribution will play an important role in helping to address a challenge facing the food industry,” said Kwee-Lin Chan, General Manager, Asia Pacific Advanced Recycling and Sustainability for ExxonMobil. “This partnership marks an important milestone for certified-circular resins to be used to produce tray packaging solutions for retail. It’s a significant extension of our collaboration with SEE and helps demonstrate the importance of value chain collaboration to support the circular plastic economy.”

“This partnership opens up new possibilities in recycling high-performance materials,” said Alessandra Faccin, President of SEE Asia Pacific. “For SEE, it puts us closer to achieving our 2025 sustainability and materials pledges. Collaboration with our partners is key to drive the adoption of a circular business model, and this is exactly what we’re doing with ExxonMobil.”

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About SEE

SEE (NYSE: SEE) is in business to protect, to solve critical packaging challenges, and to make our world better than we find it. Our automated packaging solutions promote a safer, more resilient, and less wasteful global food, fluids and liquids supply chain, enable e-commerce, and protect goods in transit from damage.

The company, under its former trade name, Sealed Air, announced its new SEE corporate brand and logo in May 2023.

Our globally recognized solution brands include CRYOVAC® food packaging, LIQUIBOX® fluids and liquids systems, SEALED AIR® protective packaging, AUTOBAG® automated packaging systems, BUBBLE WRAP® packaging, SEE®Automation and prismiq™ digital packaging and printing.

Our partnership with customers creates value through sustainable, automated, and digital packaging solutions, leveraging our industry-leading expertise in materials, automation systems, engineering and technology.

Our SEE Net Positive Circular Ecosystem is leading the packaging industry in creating a more environmentally, socially, and economically sustainable future. We have pledged to design or advance 100% of our packaging materials to be recyclable or reusable by 2025, with a bolder goal to reach net-zero carbon emissions in our global operations by 2040.

Our Global Impact Report highlights how we are shaping the future of the packaging industry. We are committed to a diverse workforce and a caring, inclusive culture through our 2025 Diversity, Equity and Inclusion pledge.

SEE generated $5.6 billion in sales in 2022 and has approximately 17,300 employees (including Liquibox employees) who serve customers in 120 countries/territories. To learn more, visit sealedair.com. 

About ExxonMobil 

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com, the Energy Factor and exxonmobilchemical.com/exxtend.

Website Information

We routinely post important information for investors on our website, sealedair.com, in the Investors section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition, results of operations and cash flows. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipate,” “believe,” “plan,” “assume,” “could,” “should,” “estimate,” “expect,” “intend,” “potential,” “seek,” “predict,” “may,” “will” and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements.

Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, expectations regarding future impacts resulting from the Liquibox acquisition, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings.

The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, including recessionary and inflationary pressures, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, failure to realize synergies and other financial benefits from the acquisition of Liquibox within the expected time frames, greater than expected costs or difficulties related to the integration of Liquibox, consumer preferences, the effects of animal and food-related health issues, the effects of epidemics or pandemics, including the Coronavirus Disease 2019, negative impacts related to the ongoing conflicts between Russia and Ukraine and related sanctions, export restrictions and other counteractions thereto, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our merger, acquisition and equity investment strategies, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our 2022 Annual Report on Form 10-K), regulatory actions and legal matters and the other information referenced in the “Risk Factors” section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SEE Contacts

Media | Christina Griffin 
704.430.5742 
christina.griffin@sealedair.com

Investors | Brian Sullivan 
704.503.8841 
brian.c.sullivan@sealedair.com

Read the full Baker Hughes Corporate Sustainability Report. 

Last year, the global energy map was redrawn, resulting in a complex energy market and a challenging macro environment. There was a renewed focus on energy security, sustainability, and affordability – “the energy trilemma”- and balancing the pace of energy transition. These forces have presented an opportunity for Baker Hughes to help our customers on their sustainability journeys and allow us to renew our focus on operational excellence to better support the needs of the energy industry well into the future.

In 2022, we continued to accelerate our business strategy to fully capitalize on the opportunities that lie ahead, drive increased shareholder value, and build a world-class energy technology company. In September 2022, we announced a strategic transformation for Baker Hughes by restructuring into two simplified business segments – Oilfield Services & Equipment and Industrial & Energy Technology – offering an integrated portfolio of solutions that we believe are best served for energy and industrial customers. We believe that focusing on these two business areas will better position our Company by enhancing flexibility, improving commercial and operational execution, and providing long-term optionality.

Our realignment and strong progress were underpinned by our sustainability strategy. Our vision is to be a sustainable pioneer in everything we do, positioning Baker Hughes as the energy technology company of choice. Through our existing corporate sustainability framework – known as People, Planet and Principles – we have continued to support the United Nations (UN) Sustainable Development Goals (SDG) and to move beyond pledges to weave sustainability more deeply in our culture. We are taking action to advance our net-zero journey, and I am proud of our accomplishments since first setting our net-zero emissions 
reduction pledge in 2019. Together, our business and sustainability strategies empower us to take energy forward – making it safer, cleaner, and more efficient for people and the planet.

Our strategic transformation in 2022 highlights sustainability as one of our core differentiators

People 
Our talented people continued to be industry-leading subject matter experts, taking energy forward in the most sustainable way. People are at the heart of taking energy forward, and we strengthened our employee value proposition to attract the best talent from around the globe to lead in the energy transition. I am proud of the recognition that we achieved this year for our collaborative learning and development programs, as well as our diversity, equity, and inclusion initiatives. We increased our contributions to the communities where we operate, as part of our charitable giving, further demonstrating how our actions continue to drive our progress and impact.

Planet 
We continue to pioneer low- to zero-carbon energy solutions for our customers and minimize our own operational footprint. Since we first made a commitment to achieve net-zero carbon dioxide equivalent (CO2e) emissions by 2050, we have achieved a 28% reduction in our scope 1 and scope 2 emissions in 2022, compared to our 2019 baseline year. We remain committed to emissions reduction, but have also set new, ambitious internal targets to reduce our scope 3 emissions, embed circularity into our products’ lifecycles, and preserve biodiversity in our areas of operation.

Principles 
Our culture is built on health and safety, compliance, integrity, and quality. We remain steadfast in upholding the highest standards in these areas. We have taken proactive and preventative measures to protect our employees and foster a culture guided by these principles. I am confident in our ability to advance our sustainability journey and proud of our accomplishments this year. We continue to put our people first, minimize our environmental impact, and drive a strong culture of integrity and safety in support of a sustainable future.

Lorenzo Simonelli 
Chairman, President, and Chief Executive Officer

Read the full Baker Hughes Corporate Sustainability Report. 

Independent research firm Verdantix recently identified IBM as a leader in their report, “Green Quadrant: ESG Reporting and Data Management Software” (July 17, 2023), which evaluated and provided a detailed assessment of solution providers and their product offerings. The rigorous analysis conducted by Verdantix included a comprehensive 115-point questionnaire, two-hour live demonstrations by suppliers and interviews with existing ESG software customers. The audience surveyed are those who are responsible for selecting, implementing and deriving value from Environmental, Social and Governance (ESG) reporting and data management applications.

The report notes that the market landscape for ESG reporting software and data management software has evolved rapidly over the past three years, driven primarily by increased regulations and interest from a variety of internal and external stakeholders. This has resulted in a proliferation of new entrants to the market seeking to meet a wide range of needs, including collecting and managing large amounts of data, ensuring the data is audit-ready, enabling reporting on that data, and using tools and technology to drive business decisions.

IBM has a strong heritage in helping clients around the world use technology like AI and advanced analytics—including the IBM Envizi ESG Suite and IBM Planning Analytics—to address their sustainability goals. IBM’s sustainability solutions provide clients with an end-to-end solution to manage ESG data, drive performance improvements and address reporting and disclosure requirements.

In reviewing IBM’s capabilities in ESG Reporting and Data Management, the Verdantix report notes that IBM has strengths in:

Data quality control and enhancement, including “easy-to-understand reports to better analyze data quality. These include incomplete data reports to identify missing or overlapping data at a granular level – such as by supplier or location – tools to automate the collection of missing data, and data health checks that include various metrics like time series meter data.”ESG and sustainability performance, including how “Envizi has particular strengths helping firms with long-term sustainability planning, including tracking net zero pathways, allowing users to set assumptions around growth scenarios, and helping customers explore these scenarios so they can make better decisions in how to allocate funding. In addition, IBM offers modelling capabilities through its Planning Analytics Solution, which uses AI and machine learning from the IBM Watson tool to perform what-if analyses and muti-variate forecasting.”

Companies around the globe are using IBM Envizi to simplify the capture, consolidation, management, analysis and reporting of ESG data, including Growthpoint, an Australian real estate investment trust, and Melbourne Water, the Australian government-owned authority that protects and manages major water resources for the city.

This recognition of IBM’s strengths in ESG reporting and data management software complements our leadership rating in the Verdantix “Green Quadrant: Enterprise Carbon Management Software 2022” study. These two results are welcome validation of our position as a leader in the market and encourages us to continue on the path to expand our capabilities in this space and key functionalities of our offerings.

For more information about IBM Sustainability, please visit the IBM sustainability solutions.

Watch IBM’s Sustainability Solutions video