Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, today released its 2021 Sustainability Report, showcasing progress the company is making in implementing its sustainability strategy with initiatives focused on advancing the circular economy, renewable feedstocks and electrification.
The report outlines how Orion is transforming its product portfolio to reflect sustainability in its business strategy. This exemplifies how companies like Orion that produce essential products are actively seeking innovative ways to realize circularity, promote electrification and reduce their carbon footprint.
“We have incorporated environmental, social and governance (ESG) principles into our management framework,” Orion CEO Corning Painter said. “Our strategy is designed to deliver value-adding solutions that will have a meaningful impact on our industry.”
Orion’s key sustainability accomplishments in 2021 include:
- Launching ECORAX Nature 105, the first product made from 100% renewable feedstock and designed for rubber applications.
- Becoming one of the first public companies in the U.S. to take out a sustainability-linked term loan, with favorable interest rates tied to the company’s success in meeting certain emissions-reduction targets at its U.S. plants.
- Developing a roadmap — with milestones in 2025, 2030 and 2035 — for the development of sustainable solutions in the company’s portfolio, paving the way to transform into a sustainable business model.
“We’ve recently announced our aspirations to reach net-zero emissions by 2050. Our Sustainability Report shows that with our portfolio of approaches, Orion is well positioned to confront some of the most pressing challenges of our era,” Painter said. “The conductive additives we produce are vital for electric vehicles and energy storage. As one of the leading innovators in tire recycling, we are also committed to supporting the transition to a circular economy.”