Hexion Publishes 2022 Sustainability Report

Highlights Strategic Progress Against ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. Commitments and Expanded Metrics

COLUMBUS, Ohio–(BUSINESS WIRE)–#hexion–Hexion announced the release of its global Sustainability Report, Building and Protecting the Future Using Innovative Science Today. The report highlights Hexion’s progress against its environmentalEnvironmental criteria consider how a company performs as a steward of nature., socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. and governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. (ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments.) initiatives, while providing expanded metrics and disclosures aligned with key sustainability frameworks.

“Hexion remains committed to building a more sustainable future and achieving the highest standards of health, safety, security and environmentalEnvironmental criteria consider how a company performs as a steward of nature. performance for our products and operations,” said Michael Lefenfeld, President and Chief Executive Officer. “Our latest sustainability report highlights our ongoing strategic initiatives aimed at serving as a responsible corporate partner in the communities where our associates live and work, while helping customers make products that are stronger, safer and cleaner than before.”

“Our sustainability strategy builds on the steady progress we’ve achieved, and we are focused on continuous improvement,” said Stephanie Couhig, Senior Vice President, EnvironmentalEnvironmental criteria consider how a company performs as a steward of nature. Health & Safety and Chief Sustainability Officer. “We start with our steadfast dedication to operating our plants safely and being good stewards of the environment, while also minimizing the impact of climate change by driving reduction in our greenhouse gas emissions. Innovation remains key to our long-term success as we’ve also committed that all new products will incorporate sustainable attributes by 2030. We remain well positioned to achieve our ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. commitments.”

Highlights from the report include:

In 2022, Hexion realized a 15 percent absolute reduction of Scope 1 and 2 greenhouse gas (GHG) emissions, which are direct and indirect greenhouse emissions from operations and consumed energy, against its 2017 baseline. This was accomplished through a robust Energy Management Program focused on lowering energy use and reducing operating costs, as well as investments in renewable energy, such as the installation of solar photovoltaic panels at its Brisbane, Australia location.

As part of its new product development initiatives, ArmorBuilt Wildfire Shield offers a durable, fire mitigation safeguard for securing critical infrastructure or other building materials. Merging fire science and smart materials, Hexion’s ArmorBuilt Wildfire Shield instantly swells and seals around the pole to create a protective and effective heat insulation barrier. This material already protects more than 100,000 utility poles in the field today.

The Company’s Supplier Sustainability and Responsible Sourcing approach results in improved logistics modes, payload optimization, and lower environmentalEnvironmental criteria consider how a company performs as a steward of nature. impact. In 2022, these programs eliminated approximately 14,000 truck shipments and 3.9 million miles of transportation from the roads. In addition, Hexion works with more than 40 EcoVadis-rated suppliers, accounting for greater than 50 percent of the Company’s annual procurement spend.

Hexion’s philanthropic support centers on several key pillars, including Science, Technology, Engineering, and Math (STEM) Education; Basic Needs; Health; and SocialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Justice. In 2022, the Company donated more than $480,000 in corporate charitable contributions, while associates globally logged more than 2,200 volunteer hours.

The Company demonstrated its ongoing commitment to Diversity, Equity and Inclusion by leveraging and forming new Business Resource Groups, where associates work voluntarily to improve inclusive engagement with fellow associates on special interests or commonalities. The Company also expanded its Supplier Diversity initiatives and continued to support the Future of STEM Scholars Initiative (FOSSI), the chemical industry’s collaborative equity, diversity, and inclusion initiative aimed at creating pathways for more underrepresented groups to enter and succeed in science, technology, engineering, and math (STEM) careers in the chemical industry.

Earlier this year, Hexion was named as a recipient of the ENERGY STAR® Partner of the Year Award for Sustained Excellence in Energy Management by the United States EnvironmentalEnvironmental criteria consider how a company performs as a steward of nature. Protection Agency’s ENERGY STAR program. The Sustained Excellence award is the highest honor bestowed by the ENERGY STAR program. It is awarded to ENERGY STAR partners that have made a long-term commitment to fighting climate change and protecting public health through energy efficiency and have demonstrated leadership year over year.

About Hexion Inc.

Based in Columbus, Ohio, Hexion is a leading global producer of adhesives and performance materials. Hexion provides specialty products and technical support for customers in a diverse range of applications and industries, such as construction, agriculture, energy, automotive and infrastructure protection. Building on over a century of experience, Hexion is working to preserve the Earth’s natural resources, meet the needs of growing populations and respond to a changing climate. Learn more about Hexion and its sustainability commitment at www.hexion.com

Contacts

John Kompa

john.kompa@hexion.com
614.225.2223

The post Hexion Publishes 2022 Sustainability Report first appeared on ESG Today.

The post Hexion Publishes 2022 Sustainability Report appeared first on ESG Today.