Albemarle Publishes 2024 Sustainability Report, Updates Efforts to Reduce Carbon Footprint, Manage Freshwater Responsibly and Support Customers' Sustainability Goals

Rhea-AI Summary

Albemarle (NYSE: ALB) has released its 2024 Sustainability Report, highlighting significant progress in environmental and social initiatives. The company achieved 24% renewable electricity consumption, up from 16% last year, and remains on track for carbon-neutral growth in its Energy Storage business. Notable achievements include a 28% reduction in freshwater intensity at its La Negra facility in Chile and the completion of the NEBO process upgrade at Jordan Bromine Company. The company expanded its Product Carbon Footprint verification and conducted a human rights assessment at its Salar de Atacama site. The report, titled 'Values-Led, Purpose-Driven,' demonstrates Albemarle's commitment to sustainable operations while supporting customer sustainability goals and community engagement.

Positive

• Renewable electricity consumption increased to 24% from 16% year-over-year
• Achieved 28% reduction in freshwater intensity at La Negra facility in Chile
• On track to achieve carbon-neutral growth in Energy Storage business
• Successfully completed NEBO process upgrade at Jordan Bromine Company

Negative

• None.

News Market Reaction – ALB

+3.49%

1 alert

+3.49% News Effect

On the day this news was published, ALB gained 3.49%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLOTTE, N.C., June 3, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2024 Sustainability Report. Entitled Values-Led, Purpose-Driven, the report provides an update on Albemarle's achievements in line with the company's sustainability goals.

"As a values-led organization, sustainability is foundational to how we choose to operate," said Albemarle Chairman and CEO Kent Masters. "The initiatives outlined in this report speak to our commitment to creating a more resilient world. We remain dedicated to minimizing our environmental footprint, creating responsible and reliable products for our customers, and engaging with our communities to foster positive outcomes."

Report Highlights

Reducing our carbon footprint

• Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis.
• 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year.
• Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.

Practicing responsible freshwater management

• Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target.
• In Chile, we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project.
• At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.

Supporting our customers' sustainability goals

• We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China.

Promoting the resilience of our communities

• A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.

To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com.
The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle
Albemarle Corp. (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com, LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp.

Albemarle regularly posts information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

FORWARD-LOOKING STATEMENTS

The 2024 Sustainability Report and our sustainability webpage contain statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will." Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov.

Media Contact:
Peter Smolowitz, +1 (980) 308-6310, media@albemarle.com

Investor Relations Contact:
+1 (980) 299-5700, invest@albemarle.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/albemarle-publishes-2024-sustainability-report-updates-efforts-to-reduce-carbon-footprint-manage-freshwater-responsibly-and-support-customers-sustainability-goals-302471310.html

SOURCE Albemarle Corporation

FAQ

What are the key achievements in Albemarle's (ALB) 2024 Sustainability Report?

Key achievements include increasing renewable electricity consumption to 24%, reducing freshwater intensity by 28% at La Negra facility, maintaining carbon-neutral growth in Energy Storage business, and completing the NEBO process upgrade in Jordan.

How much renewable electricity does Albemarle (ALB) use in 2024?

Albemarle's renewable electricity consumption reached 24% of total electricity used in 2024, up from 16% in the previous year.

What progress has Albemarle (ALB) made in water management?

Albemarle achieved a 28% reduction in freshwater intensity at its La Negra facility in Chile and completed the NEBO process upgrade at Jordan Bromine Company to meet 2030 freshwater intensity targets.

How is Albemarle (ALB) addressing carbon emissions in 2024?

Albemarle is maintaining carbon-neutral growth in its Energy Storage business, implementing a decarbonization roadmap, and expanding Product Carbon Footprint verification across its global operations.

What sustainability standards does Albemarle's (ALB) 2024 report follow?

The report follows Global Reporting Initiative (GRI) standards, Sustainability Accounting Standards Board (SASB) standards, and Task Force on Climate-Related Financial Disclosures (TCFD) recommendations.