Celanese Corporation announced the publication of its 2023-2024 Sustainability Report, The Chemistry of Change, and its complementary 2023-2024 Sustainability Index. This year's report underscores the company's expansion of its lower-carbon footprint solutions that support evolving customer needs, commitment to driving innovation across its businesses and supply chains, and efforts to build on its emissions tracking and reporting capabilities. The associated index provides a comprehensive view of resources and disclosures, including alignment with sustainability frameworks, policies, practices, and metrics.
"Chemistry is key to helping us unlock and solve many of the sustainability challenges the world is facing today," said Lori Ryerkerk, Celanese chair, chief executive officer and president. "Our team has been implementing solutions to reach our own business and sustainability goals and to equip our customers with products that can help them reach their goals. As we reflect on this year's accomplishments, we are motivated by the sustainable growth opportunities that we believe will continue to benefit generations to come."
Celanese advanced its commitment to sustainability across four strategic pillars:
Advancing Safe and Sustainable Customer Solutions
- Launching a carbon capture and utilization (CCU) project at its Clear Lake, Texas, facility, through its Fairway Methanol joint venture with Mitsui & Co, Ltd., to use recycled CO2 to help reduce the carbon footprint of its products.
- Becoming the first company to receive the International Sustainability and Carbon Certification (ISCC) Carbon Footprint Certification (CFC) for its low-carbon CCU methanol.
- Partnering with Under Armour® to bring the first commercialized product containing NEOLASTTM, a more sustainable spandex-alternative fiber for performance stretch fabrics, to customers.
- Consolidating Life Cycle Assessment (LCA) data into a centralized system with updated sources for more accessible and consistent data.
Preserving the Environment
- Integrating the legacy DuPont Mobility & Materials (M&M) facilities into its 2021 and 2022 environmental data and re-establishing its 2021 baselines to reflect the combined business.
- Updating its water risk assessment process to incorporate additional tools and further evaluate opportunities to mitigate water risk across its facilities.
- Developing methodologies for quantifying Scope 3 GHG emissions for additional relevant categories of Celanese operations.
Investing in People and Communities
- Investing in technical training through an expanded collection of live and online resources to support knowledge transfer, capability building, and professional skill development.
- Increasing Employee Resource Group (ERG) memberships significantly by integrating the legacy M&M employees into its network, adding 10 new chapters, and establishing a new employee interest group focused on wellness.
- Establishing a five-year stewardship improvement strategy to strengthen its approach for protecting the health and safety of its employees and contractors.
Operating with Integrity
- Initiating a double materiality assessment aligned with the Corporate Sustainability Reporting Directive (CSRD) to better understand its sustainability-related impacts, risks, and opportunities.
- Leveraging a new digital assessment tool to increase transparency along the value chain through the analysis of supplier impacts against social and environmental regulations.
- Being governed by a female CEO and Chair and female Lead Independent Director in addition to 40% of Board members and 33% of senior leadership being female.
"I continue to be proud of our progress and dedication to strategic sustainability priorities that we have established," said Darren Hubbard, Celanese senior director, sustainability. "From our growing portfolio of sustainable solutions for customers, to our digital transformation journey, and our ongoing goal to report meaningful disclosures, I believe our efforts will lead to a more sustainable future not just for Celanese, but for our customers, shareholders, and the communities where we live and work."
The report and index align with the Sustainability Accounting Standards Board (SASB) Chemicals Sector Standard, the Task Force on Climate-Related Financial Disclosure and the United Nations Sustainable Development Goals (UN SDGs). Additionally, these materials leverage the Global Reporting Initiative (GRI) Standards to inform disclosures and evaluate impacts on the economy, environment and people.
Both the 2023-2024 Sustainability Report and Index are available at Celanese.com.
About Celanese
Celanese is a global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Our businesses use our chemistry, technology and commercial expertise to create value for our customers, employees and shareholders. We support sustainability by responsibly managing the materials we create and growing our portfolio of sustainable products to meet customer and societal demand. We strive to make a positive impact in our communities and to foster inclusivity across our teams. Celanese is a Fortune 500 company that employs approximately 12,400 employees worldwide with 2023 net sales of $10.9 billion.
Forward-Looking Statements
This release may contain "forward-looking statements," which include information concerning the company's plans, objectives, goals, future revenues, financial performance, expected future costs and other information that is not historical information. When used in this release, the words "outlook," "forecast," "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company's control, could cause actual results to differ materially from those expressed as forward-looking statements. These factors include the inability to obtain regulatory approvals of the transaction and satisfy conditions on the proposed terms and schedule and the possibility that the transaction does not close. Certain of these risk factors are discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date the statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
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