Releases Annual Sustainability Progress Update
WILMINGTON, Del., May 31, 2023 /PRNewswire/ -- In 2022, DuPont Performance Building Solutions and Corian® Design achieved a 41% reduction in Scope 1 and Scope 2 Greenhouse Gas (GHG) emissions over the last three years, as demonstrated in their 2023 Sustainability Progress Report released today. This accomplishment supports the business' sustainability commitment to partner with customers and the building industry to help drive whole life carbon of buildings to zero, advance circularity of building materials, and utilize safer chemistries, to realize a shared vision of sustainability within the built environment.
As a highlighted in the report, this significant reduction in GHG emissions was enabled by product innovation that has delivered low embodied carbon products to the market, including low Global Warming Potential (GWP) Froth-Pak™ Spray Foam Insulation and Styrofoam™ Brand ST-100 Series extruded polystyrene foam insulation. These reformulations advanced the business's progress against its commitment to reduce GHG emissions from operations by 75 percent by 2030, relative to a 2019 baseline, and support DuPont's overall Acting on Climate Goal, while also helping DuPont Performance Building Solutions and Corian® Design customers advance their climate action goals.
"We know the important role that the built environment plays in addressing the collective climate crisis, and we are thrilled to have made such strong progress against our climate action goal," said Shawn Hunter, Global Sustainability Director for DuPont Performance Building Solutions and Corian® Design. "I'm proud of our teams and colleagues whose hard work drove this progress over the past three years. In this decade of critical climate action, we also know that a GHG emissions gap to 1.5°C exists today, and we are committed to continuing to innovate as if our future depends on it. Because it does, now more than ever."
Across the company, DuPont saw a 35 percent reduction in Scope 1 and 2 emissions by the end of 2022 in, surpassing its 2030 goal of a 30 percent reduction by 2030, from a 2019 baseline, eight years ahead of schedule as highlighted in DuPont's 2023 Sustainability Report. As a result of this accelerated progress, DuPont has set a new ambitious 2030 climate goals of a 50 percent reduction in Scope 1 and 2 emissions from a 2019 baseline. DuPont also set a new 2030 Scope 3 GHG emissions reduction goal of 25 percent in absolute Scope 3 GHG emissions from purchased goods and services and end of life treatment of sold products by 2030 from a 2020 base year.
DuPont's 2030 emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), a partnership between CDP, the UN Global Compact, World Resources Institute (WRI) and the World Wildlife Fund (WWF). This reinforces DuPont's alignment with the Paris Agreement and aligns our aspirations with efforts to limit global warming to 1.5°C above preindustrial levels.
For more details, or to read the DuPont Performance Building Solutions and Corian® Design 2023 Sustainability Progress Report in its entirety, click here.
About DuPont Performance Building Solutions and Corian® Design
Grounded in science, DuPont Performance Building Solutions and Corian® Design are working alongside those who also seek a sustainable tomorrow to help people thrive at home and in their communities for years to come. By developing solutions for managing the air, water and thermal performance of buildings and residences, we help our customers build energy-efficient, resilient, and durable shelters in a rapidly changing world. Backed by unmatched industry insight, building knowledge, and technical support, as well as world-class brands such as Styrofoam™ Brand, Tyvek®, and Great Stuff™, our products and services portfolio enables customers to focus on what they do best, no matter where and how they choose to build.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
Cautionary Statement Regarding Forward Looking Statements
This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words.
Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties, and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not representations or warranties or guarantees of future results.
Forward-looking statements include statements which relate to the purpose, ambitions, commitments, targets, plans, objectives, and results of DuPont's sustainability strategy. Forward-looking statements include statements related to the standards and measurement of progress against the company's sustainability goals, including metrics, data and other information, which are based on estimates and assumptions believed to be reasonable at the time. The actual conduct of the company's activities and results thereof, including the development, implementation, achievement or continuation of any goal, program, policy or initiative discussed or expected in connection with DuPont's sustainability strategy may differ materially from the statements made herein. The use of the word "material" for the purposes of statements regarding our sustainability strategy and goals should not be read as equating to any use of the word in the company's other disclosures or filings with the U.S. Securities and Exchange Commission.
See DuPont's most recent annual report and subsequent current and periodic reports filed with the U.S. Securities and Exchange Commission for further description of risk factors that could impact the expectations or estimates implied by the Company's forward-looking statements, including (i) the ability to meet expectations regarding the timing, completion, accounting and tax treatments, and benefits, including integration, related to portfolio changes; (ii) risks and costs related to indemnification of legacy liabilities; (iii) risks and uncertainties related to operational and supply chain impacts or disruptions, including ability to offset increased costs, obtain raw materials, and meet customer needs, and (iv) other risks to DuPont's business and operations. Unlisted factors may also present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business or supply chain disruption, operational problems, financial loss, legal liability to third parties, loss of key customers, reputational harm and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
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