Quaker Houghton Commits to be Carbon Neutral by 2030
Quaker Houghton (NYSE: KWR) announced its commitment to achieving carbon neutrality globally by 2030.
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Quaker Houghton (NYSE: KWR) announced its commitment to achieving carbon neutrality globally by 2030. The company aims to set science-based targets by 2030 to attain net zero emissions across its value chain by 2050. CEO Michael F. Barry highlighted key initiatives including energy efficiency, purchasing green power, and employing high-quality carbon offsets. The 2020 Sustainability Report outlines the company's governance and commitment to sustainability, and further environmental goals will be unveiled later in 2021.
Positive
- Commitment to carbon neutrality by 2030
- Science-based targets for net zero emissions by 2050
- Initiatives to enhance energy efficiency and use green power
Negative
- None.
Details
News Market Reaction – KWR
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CONSHOHOCKEN, Pa., March 25, 2021 /PRNewswire/ -- Today, Quaker Houghton ("the Company"; NYSE: KWR) announced that it plans to be carbon neutral in its global operations by 2030. The Company also commits to setting science-based targets1 by 2030 to achieve net zero emissions across its value chain by 2050.
"I am proud of the significant progress we have made in establishing the foundation for Quaker Houghton's sustainability program," said Michael F. Barry, Chairman, Chief Executive Officer and President. Mr. Barry continued, "It is our responsibility to ethically manage environmental, social, and economic concerns so that future generations are healthy and successful. Our focus, and first commitment, starts with achieving carbon neutrality." The Company will reach neutrality in its global operations by 2030 through actions such as:
- Energy efficiency and conservation measures
- Purchasing green power and Energy Attribute Certificates (e.g., RECs)
- Neutralizing residual emissions using high quality carbon offsets
In 2020, Quaker Houghton laid the cornerstone for a refreshed sustainability program, with a new governance structure and reporting transparency aligned with the Sustainability Accounting Standards Board and the Global Reporting Initiative, and now supports the Task Force on Climate-related Financial Disclosure. More information on the Company's sustainability strategy and progress can be found in its 2020 Sustainability Report at quakerhoughton.com/sustainability. In addition to carbon targets, the Company will introduce its comprehensive set of environmental and social goals, supported by its vision and strategy, later in 2021.
Quaker Houghton is a global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, our customers include thousands of the world's most advanced and specialized steel, aluminum, automotive, aerospace, offshore, can, mining, and metalworking companies. Our high-performing, innovative, and sustainable solutions are backed by best-in-class technology, deep process knowledge, and customized services. With approximately 4,200 employees, including chemists, engineers, and industry experts, we partner with our customers to improve operations so they can run even more efficiently, even more effectively, whatever comes next. Quaker Houghton is headquartered in Conshohocken, Pennsylvania, located near Philadelphia in the United States. Visit quakerhoughton.com to learn more.
1 Science-based targets provide companies with a clearly defined path to reduce emissions through the Science Based Target Initiative, which is in line with the Paris Climate Agreement.
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SOURCE Quaker Houghton
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