MIDLAND, Mich., July 19, 2021 /3BL Media/ – Dow (NYSE: DOW), a global leader in materials science, joins CDP Supply Chain Program (formerly Carbon Disclosure Project, an international non-profit specialized in environmental reporting) to track climate impacts in the supply chain and identify collaborative decarbonization opportunities with suppliers. This is part of Dow’s expanded Sustainable Procurement multigenerational plan. The CDP program supports Dow’s “protect the climate” targets, announced in 2020, and its commitment to accelerate its work with its suppliers, customers and value chain partners to ensure Dow’s ecosystem is carbon neutral by 2050.
In 2021 Dow intends to engage suppliers to request climate-related information via CDP’s online disclosure platform. “Dow has an aggressive target to reduce its net annual carbon emissions by 5 million metric tons (versus 2020 baseline) by 2030 and to ensure Dow’s ecosystem is carbon neutral by 2050,” said Leticia Jensen, Global Purchasing Sustainability Director. “While we continue to take action to reduce our own emissions, our suppliers will play a critical role in helping Dow achieve carbon neutrality.”
CDP provides a consistent, transparent framework to collect critical climate data from suppliers, enabling Dow to better evaluate supply chain risks and to identify synergies to catalyze greater emission reductions. “By collecting relevant and comparable environmental data, Dow can better measure supplier environmental impacts and account for its value chain, or scope 3, emissions,” said Dow Purchasing Vice President Cathy Budd. “By requesting qualitative and quantitative climate data from suppliers in a standardized way, Dow will support the harmonization of carbon accounting principles, while improving the consistency and accuracy of data.”
Dow will also engage its suppliers by providing feedback on areas for possible improvements, helping to build expertise in climate accounting. This engagement is part of Dow’s multigenerational plan to advance Sustainable Procurement practices.
By making climate data available on CDP’s platform, Dow can help its customers, suppliers and other value chain partners to make more informed decisions about their own risks and identify opportunities for collaboration to decrease the total carbon footprint.
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 10,000 organizations around the world disclosed data through CDP in 2020, including more than 9,600 companies worth over 50% of global market capitalization, and over 940 cities, states and regions, representing a combined population of over 2.6 billion. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
For further information, please contact:
+1 989 638-2417
View source version on newsdirect.com: https://newsdirect.com/news/dow-joins-cdp-supply-chain-program-to-expand-supplier-engagement-on-climate-197884014