Energy Efficiency, GHG Emissions, Industrial  -  June 18, 2024

Albemarle’s Businesses on Track To Lower Emissions

Albemarle Corporation — a global company that provides essential elements for mobility, energy, connectivity and health — announced its specialties business is on track to reduce absolute Scope 1 and 2 carbon emissions by 2030.

The company’s energy storage business is on track to grow in a Scope 1 and 2 carbon-intensity neutral manner through 2030, due in part to the acquisition of 100% renewable electricity for sites in Chile and Kings Mountain, North Carolina, and increased renewable electricity in Silver Peak, Nevada, and Xinyu, China.

Albemarle reached its 2023 target of collecting primary emissions data from suppliers that represent 75% of its raw material carbon footprint and is on track to reduce sulfur oxide emissions by 90% by 2027. The company continues to evaluate technology options to achieve its target.

Details were published in its 2023 Sustainability Report, All the Elements for a Better World, detailing updates on sustainability strategy execution and progress made toward achieving the company's sustainability goals. The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards, and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

"As a purpose-driven and values-led organization, sustainability is core to who we are and how we choose to operate," said Albemarle Chairman and CEO Kent Masters in a statement. "This report reflects our commitment to provide enduring value for our stakeholders as we seek to create a more resilient world. The progress to date is a credit to the employees, investors, customers and communities who share our vision for the future."

Albemarle earned an EcoVadis Gold Medal for the company's annual business sustainability assessment, including 21 sustainability criteria, placing Albemarle in the top 95th percentile among all companies rated in the past year.

The company also conducted a new double materiality assessment to identify the sustainability issues that matter most to Albemarle and its stakeholders, resulting in updated areas of focus for the company such as waste and circularity, responsible sourcing, innovation, talent and cultures, and expanded life cycle assessments. Additionally, Albemarle announced the completion its first in-house product carbon footprint study of elemental bromine produced in Magnolia, Arkansas.