Owens Corning (NYSE:OC) today published its 2024 Sustainability Report, Building Better Together, outlining the company's progress toward its 2030 sustainability goals.
"The theme ‘Building Better Together' reflects the work of our team in delivering a significant year for Owens Corning in 2024," said Chair and Chief Executive Officer Brian Chambers. "We successfully executed major strategic initiatives to reshape and focus the company on building products in North America and Europe while driving breakthroughs in performance across several sustainability measures."
This marks the 19th sustainability report from Owens Corning, which published its first report in 2006.
"2024 will stand as a milestone in our journey toward our 2030 sustainability goals, showcasing our ongoing commitment to progress and innovation," said David Rabuano, senior vice president and chief sustainability officer.
Notable accomplishments outlined in this year's report include:
- Employee safety: Driven by the company's Safer Together operating framework, Owens Corning reported a recordable incident rate of 0.62, which is 78 percent below the industry average, as reported by the U.S. Bureau of Labor Statistics for 2023 (the most recent data available). In addition, 58 percent of the company's global sites worked injury-free in 2024.
- Energy-efficient solutions: Across all of its businesses, Owens Corning offers an extensive portfolio of products that meet customer demands by saving energy and lowering emissions. In 2024, 51 percent of the company's revenue came from this category of products.
- Waste: To achieve a winning cost position and deliver best-in-class execution, the company drove significant productivity gains by reducing waste. In 2024, Owens Corning reduced its total waste generation by 64,676 metric tons compared to 2023. In addition, the company reduced the amount of waste sent to landfills by 11 percent year-over-year and 20 percent compared to a 2018 baseline.
- Reducing greenhouse gas emissions: The company has achieved a 43 percent reduction in Scope 1 and 2 market-based emissions from a 2018 baseline, including an 11 percent reduction in 2024. These results move Owens Corning closer to its goal of a 50 percent reduction in absolute Scope 1 and 2 market-based GHG emissions by 2030. These efforts help Owens Corning reduce the embodied carbon of the products it produces, a key factor in staying ahead of building regulations and maintaining its competitiveness in the market.
The report was prepared in accordance with the Global Reporting Initiative (GRI) Standards. In addition, the report addresses disclosures and material issues related to CDP (formerly the Carbon Disclosure Project), the S&P Global Corporate Sustainability Assessment (CSA) and Dow Jones Sustainability Index (DJSI), the United Nations Sustainable Development Goals (SDGs), UN Global Compact Communication on Progress, and other stakeholders' requests, including the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).
Detailed information about the company's sustainability strategy, goals, and progress are available at owenscorning.com/sustainability.
About Owens Corning
Owens Corning is a residential and commercial building products leader committed to building a sustainable future through material innovation. Our products provide durable, sustainable, energy-efficient solutions that leverage our unique capabilities and market-leading positions to help our customers win and grow. We are global in scope, human in scale with more than 25,000 employees in 31 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Founded in 1938 and based in Toledo, Ohio, USA, Owens Corning posted 2024 sales of $11.0 billion. For more information, visit www.owenscorning.com.
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