We published our sixth annual sustainability report. The report provides an in-depth overview of the Company's progress and achievements over the past year, emphasizing its commitment to meet evolving customer demands for innovative and sustainable solutions while reducing greenhouse gas emissions.
Key 2024 highlights include:
- Expanded portfolio of sustainable solutions including ISCC PLUS Certifications: Nearly 35% of Nouryon's full-year 2024 revenue was derived from its portfolio of Eco-Premium Solutions1, affirming its commitment to sustainable innovation. 74% of its R&D product pipeline2 was focused on solutions with sustainability benefits. The Company introduced innovative products, such as Expancel® BIO microspheres, Berol® Nexus surfactant, and Structure® Silk starch. Nouryon also achieved multiple International Sustainability and Carbon Certification standard (ISCC PLUS) certifications.
- Strong process safety performance: Nouryon maintained top-quartile people safety performance3 according to American Chemistry Council (ACC) benchmark data, with a 78% decrease in its process safety incident rate versus the 2019 baseline.
- Reduction in greenhouse gas emissions: The Company improved its environmental performance with a 19% reduction in total absolute Scopes 1 and 2 greenhouse gas (GHG) emissions between 2019 and 2024.
- Increased use of renewable energy: 56% of Nouryon's total electricity consumption is now derived from renewable and low-carbon sources, and 35% of total energy consumption, including steam, came from renewable sources compared to 30% in 2019. Additionally, 28 of its manufacturing sites are now sourced with 100% renewable and/or low-carbon electricity.
- Increased Supplier Sustainability Assessments: Nouryon expanded the proportion of its supplier spend assessed by EcoVadis to 74% up from 66% the previous year.
- EcoVadis Gold rating placing Nouryon in the top 3% of companies then assessed: This prestigious rating from the world's largest provider of business sustainability ratings also places the Company among the top 2% in its industry. Additionally, Nouryon received a B score from CDP for our 2024 environmental performance, placing the Company in the Management category for our effective environmental management practices.
“At Nouryon, sustainability is foundational to our success, serving as a business opportunity, a license to operate, and a strategic priority essential for driving growth and creating long-term value,” said Charlie Shaver, Chairman and CEO of Nouryon. “We are proud of our ongoing progress in delivering essential and sustainable solutions for our customers while maintaining our top-quartile people safety performance and enhancing our sustainability profile.”
The report reflects Nouryon’s approach to data disclosure and includes metrics with reference to GRI and in alignment with SASB disclosure standards. Additionally, the Company has reported to the Task Force on Climate-related Financial Disclosures (TCFD).
“We are pleased with the sustainability advancements detailed in our latest report,” said Vivi Hollertt, Vice President and Chief Sustainability and Communications Officer at Nouryon. “Our progress is a testament to the strong partnerships we have with our customers, suppliers, and business partners, as well as the invaluable contributions from our colleagues worldwide. We are grateful to our stakeholders and honored to be ranked among the top 3 percent of companies by EcoVadis for our progress throughout 2024.”
More information on the company’s sustainability progress can be found in the full report, the data sheet, and the dedicated section of the Company website.
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1. Eco-Premium Solutions are products that offer significant sustainability benefits over mainstream alternatives in the market while providing the same or better functionality.
2. The scope of the Eco-Solutions metric includes all active New Product Introduction projects in stages 3 (creation), or 4 (scale-up), and excludes stages 1 (screening), 2 (feasibility), and 5 (launch and monitor).
3. Based on annual Occupational Safety and Health Administration (OSHA) recordable injury rates versus chemical industry peers in the American Chemistry Council.
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