ENGLEWOOD, Colo., Oct. 12, 2022 (GLOBE NEWSWIRE) — Innospec (NASDAQ: IOSP) today announced the release of its 2021 Responsible Business Report. The report provides an overview of the company’s progress and its ongoing commitment to ESG and sustainability.
Key highlights for 2021 include:
Reduced operational greenhouse gas emissions by 52% and water consumption by 50% since our baseline year of 2006.
All manufacturing facilities source 100% renewable electricity. Renewable energy now represents 25% of Innospec’s total energy mix.
Earned the leadership score for CDP’s governance and climate assessment categories.
Over $1 million raised through our global charitable giving and employee volunteering program Innospec Cares.
$660,000 in total social value in 2021 helping support 150 charities worldwide and good local causes at our operations.
Nearly 6,000 training courses and compliance certifications provided to our employees.
Introduction of a new management and governance structure to help develop and drive our ESG strategy.
Continued investment in infrastructure and facilities, including increased production capacity for our industry-leading mild and natural surfactants and a new Performance Chemicals global technology center in North Carolina, USA. United.
More than $37 million spent on research and technology in 2021 to help us develop high-performance and sustainable solutions for our customers.
Independent assurance of the report and our sustainability program in accordance with the globally recognized AA1000 assurance standard 2008:2018 Addendum.
Patrick S. Williams, President and Chief Executive Officer, said, “We are thrilled to present our 23rd Responsible business report that highlights our 2021 performance and our ESG approach. During the year, we continued to invest in innovation and production capacity to support our customers’ growth and sustainability priorities. Additionally, the introduction of our new ESG governance structure further reinforces our longstanding commitment to building a sustainable business.
To learn more about Innospec’s approach to ESG and sustainability, please read Innospec’s Responsible Business Report 2021 by visiting https://innospecsustainability.com/.
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 1,900 employees in 24 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, Middle East, Africa and Asia-Pacific. The Performance Chemicals business creates innovative technology solutions for our customers in the personal care, home care, agrochemical, mining and industrial markets. The Fuel Specialties business specializes in the manufacture and supply of fuel additives that improve fuel efficiency, increase engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry.
This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. These forward-looking statements include statements (covered by words such as “expects”, “estimates”, “anticipates”, “may”, “could”, “believes”, “estimates”, “plans”, “has “Intent” or similar words or phrases, for example) that relate to earnings, growth potential, operating performance, events or developments that we expect or expect to occur or may occur in the ‘coming. Although management considers the forward-looking statements to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, including the effects of the COVID-19 pandemic, such as its duration, long-term economic impact unknown term, measures taken by government authorities to deal with it, the increase in variants, the effectiveness, acceptance and distribution of COVID-19 vaccines and the effects of any sanctions, export restrictions, disruption of supply chain or increased economic uncertainty related to the ongoing conflict between Russia and Ukraine and how the pandemic and/or such conflict may precipitate or exacerbate other risks and/or uncertainties, and our performance or actual results may differ materially from these forward-looking statements. Additional information regarding risks, uncertainties and assumptions regarding Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports. filed with the United States Securities and Exchange Commission. You are encouraged to review our discussion of the risks and uncertainties that could cause actual results to differ from the forward-looking statements under the heading “Risk Factors” in these reports. Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.