HOUSTON—Orion Engineered Carbons is transforming its product portfolio to reflect sustainability in its business strategy.
The global specialty chemicals company released its 2021 sustainability report on Aug. 1, which showcases the company's progress in implementing its sustainability strategy, including advancing the circular economy, renewable feedstocks and electrification.
"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."
Key 2021 sustainability accomplishments include Orion's launch of Ecorax Nature 105, a carbon black is made from 100-percent renewable feedstock.
The company was also one of the first in the U.S. to take out a sustainability-linked term loan, Orion said, noting favorable interest rates are tied to the company's success in meeting certain emissions-reduction targets at its U.S. plants.
Orion also established a roadmap for developing sustainable solutions within the company portfolio, including milestone years of 2025, 2030 and 2035.
"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."
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