WILMINGTON, Del., Sept. 13, 2018 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, today announced its Corporate Responsibility Commitment—the company's first, formal corporate responsibility program—during its Plunkett Awards ceremony in Philadelphia. The commitments are anchored by goals targeted for completion by 2030 across eight key areas: Safety Excellence, Vibrant Communities, Vibrant Employees, Climate, Water Quality, Waste, Sustainable Offerings, and Sustainable Supply Chain.
"I am delighted to reveal our Corporate Responsibility Commitments (CRC), which are an extension of our growth plans for Chemours," said CEO Mark Vergnano. "Having completed our transformation plan, we are embarking on our next chapter characterized by growth borne of meeting the demands of customers, investors, communities, and employees. We will keep delivering essential, chemistry-powered solutions that enable modern life, while committing to making bigger, positive social impacts."
Chemours plans to invest in its global facilities and surrounding communities to achieve ten specific goals:
- Reduce greenhouse gas emission intensity by 60%
- Reduce air and water process emissions of fluorinated organic chemicals by 99% or greater
- Reduce landfill volume intensity by 70%
- Improve employee, contractor, process, and distribution safety performance by at least 75%
- Invest to advance STEM education, improve the environment, and make work and home safer in our communities
- Globally, fill 50% of company positions with women
- Within the U.S., achieve 20% ethnic diversity in our workforce
- Generate 50% of our revenue from solutions that contribute to the 2030 United Nations Sustainable Development Goals
- Show a 15% improvement in the sustainability performance of 80% of suppliers by spend
- By 2030, progress our plan to become carbon positive by 2050
Chemours began executing against its CRC goals ahead of today's formal announcement with several programs and actions, including investing $190M in water and air emissions management technology at its Fayetteville, NC plant and its Dordrecht plant site to achieve a significant reduction of overall emissions of organic fluorinated compounds. These actions create an industry-leading emissions control model for the future. In addition, earlier this year Chemours established the Future of Chemistry Scholarship program—a commitment of over $400,000 to benefit students pursuing STEM fields of study after high school.
"These investments will be reflected in our future annual outlook estimates," said Mark Newman, Chemours Chief Financial Officer. "And we remain committed to our 2018 to 2020 shareholder value creation and capital allocation strategy."
In the weeks to come, Chemours will unveil elements of the CRC program, including the October 2018 release of its first corporate responsibility report, which will include a detailed review of the company's Corporate Responsibility Commitment initiative and the ten CRC goals.
"We have set very ambitious goals for ourselves to show we have both the skill and the will to be a new kind of chemistry company," said Paul Kirsch, president of the Chemours Fluoroproducts business and executive sponsor of Chemours' CRC. "Chemours is a performance-driven company, and our Corporate Responsibility Commitment is no different. That's why we decided to put down clear markers by which to measure and report our progress. Achieving these goals means that we are moving towards being the best in the world at using chemistry to make life better for people the world over."
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours has approximately 7,000 employees and 26 manufacturing sites serving approximately 4,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information please visit chemours.com, or follow us on Twitter @Chemours, or LinkedIn.
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance, business plans, prospects, targets, goals and commitments, capital investments and projects, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, and our outlook for net sales, Adjusted EBITDA, Adjusted EPS, Free Cash Flow, and Return on Invested Capital (ROIC), all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2017. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
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