Axalta has announced plans to reduce 50% of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030 and become carbon neutral in its operations by 2040.
Axalta, a manufacturer of liquid and powder coatings, will commit to reducing Scope 1 and 2 greenhouse gas (GHG) emissions by 50 percent by 2030. The goal is to become carbon neutral in its operations by 2040, a decade before the deadline set by the Paris Agreement on Climate Change. In addition, the paint manufacturer has another 10 projects in store to improve sustainability by 2030.
“Today, we are coupling our commitment to technology, innovation, and people first with our commitment to building a more sustainable future," said Robert Bryant, President and CEO of Axalta. "Our new goal to achieve carbon neutrality by 2040 enables us to lead our industry by example and to inspire our customers as we work to ensure the long-term well-being of our planet, our partners, and our business.”
To achieve these goals, Axalta conducted a comprehensive environmental, social and governance (ESG) materiality assessment with internal and external stakeholders, including customers, suppliers, investors, board members, community and local government leaders, and corporate executives. It has also worked to align with the United Nations Sustainable Development Goals in developing its ESG framework.
The pillars of Axalta ESG framework
- Planet Solutions: guaranteeing a more sustainable future for the planet. This pillar includes a series of practices aimed at improving the environmental performance of the company and reducing its global operations impact. In addition to its carbon reduction goals, Axalta is taking steps to achieve a score of 10 percentage reduction of VOC emissions, process waste and water use from operations by 2030.
- Business solutions: providing customers with products, services, and technologies that can help them design and manufacture their finished products to help accelerate their own sustainability initiatives and achievements. Axalta is committing to deliver sustainability benefits from 80 percent of its new technology and innovation developments by 2030 and increasing, by at least 20 percent, the total percentage of net sales derived from products, services, and tools that offer sustainability benefits.
- People solutions: commitment to continue working in an environment whose core values are inclusivity, integrity and safety. The company is committed to creating a more diverse and inclusive environment which results in greater representation of women in management positions globally to at least 30% by 2030. Axalta will continue to support its local communities through its Bright Futures program, which includes STEM and professional scholarships.
"Our focus on planet, business, and people solutions will guide us from a strategic, customer partnership, and employee engagement perspective," added Mr. Bryant. "We're excited to partner with our people, customers, suppliers, and all our other stakeholders around the globe on this journey to create and realize a more sustainable future."