Sustainability in business graphic.

Albemarle Corporation has released its annual sustainability report, stating that the company is on track to reach its emissions targets and climate goals. 

The report Committed to Building a More Resilient World includes the following highlights: 

  • On-track progress toward sustainability goals and targets
  • New goals for air quality, scope three greenhouse gas emissions (GHG) and diversity
  • Initial Task Force for Climate-related Financial Disclosures (TCFD) report
  • Sustainability Day webcast scheduled for 9am EDT Tuesday 20 June 2023

Albemarle CEO, Kent Masters, said, “Our annual sustainability report is an opportunity to share the progress we have made on our key environmental and diversity targets. 

“Albemarle is a values-driven organisation that strives to operate with transparency and integrity. As we continue to execute against our growth strategy and innovate around new products and technologies, we are dedicated to doing so with people and planet in mind.”

The reported progress towards sustainability targets include:

  • Albemarle is on track to achieve its goal of reducing the intensity of freshwater usage in Chile and Jordan by 25 per cent by 2030
  • Albemarle finished 2022 ahead of its diversity, equity and inclusion (DE&I) targets of increasing global gender diversity and US racial diversity in senior-level management roles year-over-year
  • Lithium GHG emissions intensity is tracking well below the 2030 target
  • Bromine and Catalysts businesses are on track to achieve goals to reduce GHG emissions by 35 per cent by 2030, in line with science-based targets
  • Albemarle is restating GHG targets to align with the company’s new global business structure
  • Albemarle introduced a new air quality goal to reduce 90 per cent of sulphur oxide (SOx) emissions by 2027, with a 2022 baseline
  • Albemarle introduced a new scope three target to engage with suppliers to collect 75 per cent by 2023 and 90 per cent by 2024 of the company’s raw material carbon footprint data; setting the foundation for a future scope three reduction target

In 2022, Albemarle began to report aligned with the TCFD recommendations by providing investors and other stakeholders with more comprehensive information about the impacts of climate change on the business.

View Albemarle’s 2022 Sustainability Report here.

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