Cabot Corporation Details Sustainability Performance in 2024 Sustainability Report
- Highlights progress toward its 2025 Sustainability Goals
- Illustrates future approach to continue to advance its sustainability agenda
- Outlines company's leadership in sustainability as validated by third-party certifications
Cabot Corporation (NYSE:CBT) today published its 2024 Sustainability Report, which details the progress it has achieved on advancing its sustainability objectives. The report outlines Cabot's 2023 performance toward meeting its 2025 Sustainability Goals and opportunities to further enable a more sustainable world. This report was developed in accordance with the Global Reporting Initiative (GRI) Standards and provides information in support of Cabot's participation in the United Nations Global Compact (UNCG).
"At Cabot, sustainability is central to our purpose of creating materials that improve daily life and enable a more sustainable future," said Sean Keohane, president and CEO. "I am incredibly proud of the collective efforts of our global team. Our progress in achieving world class safety and environmental performance, and active engagement in our communities are examples of where Cabot is making a difference. Furthermore, through our innovative chemistry, we can help solve complex sustainability challenges for our customers, communities and the world. Our accomplishments in 2023 will serve as both the foundation for our future and inspiration for the journey ahead."
Notable key achievements in the report include:
- Industry-Leading Safety Performance: As part of its "Drive to Zero" initiative, Cabot has set a long-term goal of achieving zero injuries at its facilities worldwide. In calendar year 2023, Cabot achieved industry-leading safety performance, with a Total Recordable Incident Rate (TRIR) of 0.20, placing the company in the top decile of manufacturing companies.
- 2025 Sustainability Goals: Cabot continued to make significant progress in advancing its sustainability agenda, resulting in the achievement of nine of its 2025 Sustainability Goals ahead of schedule. Furthermore, in calendar year 2023, Cabot reduced its absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 330,000 metric tons (MT) CO2e compared to calendar year 2022. Cabot has also avoided nearly a total of 600,000 MT CO2e emissions associated with the export of energy products in 2023.
- Innovations for a Sustainable Future: In alignment with its "Creating for Tomorrow" strategy, Cabot is developing innovative products and processes that enable a better future. In 2023, Cabot launched EVOLVE® Sustainable Solutions, its technology platform for delivering sustainable reinforcing carbons and other performance materials at industrial scale.
- Global Certifications: The company achieved International Sustainability and Carbon Certification (ISCC) PLUS certification at seven of its sites globally in just nine months. This certification enables Cabot to offer more sustainable and valuable products by incorporating circular value chains and certified feedstocks into its manufacturing process.
"As we continue to make advancements toward a lower carbon future, we recognize the critical importance in reducing the GHG emissions across our entire value chain, and that starts with understanding where the opportunities are," said Martin O'Neill, senior vice president, Safety, Health and Environment (SH&E) and Government Affairs; chief sustainability officer. "In 2023, we completed a comprehensive inventory of our Scope 3 GHG emissions, while making great progress on our 2025 GHG Scope 1 and Scope 2 intensity reduction goal. We look forward to continuing to identify opportunities that will help reduce environmental impact and enable a more sustainable future with our products and processes."
For more information about Cabot's sustainability agenda and to view the full 2024 Sustainability Report, visit cabotcorp.com/sustainability.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of reinforcing carbons, specialty carbons, battery materials, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed metal oxides and aerogel. For more information on Cabot, please visit the company's website at cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
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