Kraton Corporation Shares Insights on 2024 Sustainability Progress
Kraton Corporation Shares Insights on 2024 Sustainability Progress
Kraton Corporation, renowned for its specialty polymers and biobased products derived from pine wood co-products, proudly unveils its latest Sustainability Report for 2024, titled "Innovating with Purpose." This report sheds light on Kraton's significant strides in sustainability across various dimensions, including climate action, product circularity, and collaborative efforts within the value chain. These initiatives underscore the company's commitment to delivering innovative solutions aimed at fostering a sustainable future.
Key Achievements in Sustainability
Reflecting on the preceding year, Kraton demonstrated remarkable progress, achieving a 41% reduction in Scope 1 and 2 emissions compared to its 2014 baseline. This impressive feat secured the company an EcoVadis Platinum rating for the fourth year running. Marcello Boldrini, Kraton's Chief Executive Officer, expressed enthusiasm over these accomplishments: "In 2024, we turned ambition into reality." Boldrini emphasizes the company's focus on advanced biobased innovation and strategic partnerships aimed at tackling global sustainability challenges. This commitment positions Kraton as a leader in developing essential sustainable chemical solutions.
Enhancing Reporting and Transparency
Rogier Roelen, the Chief Sustainability Officer at Kraton, highlighted the implementation of new processes aimed at scaling credible and data-driven sustainability efforts throughout the organization. The 2024 report significantly enhances ESG reporting through an innovative data harmonization program. Additionally, the completion of a Double Materiality Assessment allowed Kraton to align more closely with the Corporate Sustainability Reporting Directive. These advancements not only prioritized key ESG issues but also facilitated better transparency regarding the environmental impacts of Kraton's diverse product portfolio.
Highlights of the 2024 Sustainability Report
Several notable achievements were recorded in the new sustainability report:
- A 41% reduction in Scope 1 and 2 greenhouse gas emissions since 2014, complemented by a 35% reduction in emissions intensity.
- Recognition with the EcoVadis Platinum sustainability rating for four consecutive years.
- Awarded the prestigious 2024 Nitto Supplier Sustainability Award.
- Conducted a Double Materiality Assessment to guide ESG strategies.
- Initiated a data excellence program aimed at enhancing ESG data quality and developing new decarbonization targets.
- Finalized a $35 million investment to upgrade biorefinery towers, enhancing production capabilities significantly.
- Expanded Life Cycle Assessment data to encompass nearly 90% of the product range, improving customer insights into product environmental impacts.
Foundational Pillars of Sustainability
Kraton's sustainability framework is anchored in vital pillars such as Being Reliable Partners, Preserving the Planet, and Empowering People. The report was crafted in accordance with major standards like the Global Reporting Initiative and the Sustainability Accounting Standards Board. Through adherence to these rigorous standards, Kraton showcases its commitment to responsible corporate behavior, aligning its goals with global sustainability frameworks.
About Kraton Corporation
Kraton Corporation stands out as a global leader in creating specialty polymers and high-value performance products derived from renewable materials. Its polymers find applications in a multitude of sectors, ranging from adhesives and coatings to personal care and automotive products. As the largest provider in the pine chemicals industry, Kraton's products cater to diverse markets, including construction, tire manufacturing, and lubricants. The company proudly serves a vast customer base dispersed across over 70 countries worldwide, reinforcing its international footprint.
Frequently Asked Questions
What is the main focus of Kraton's 2024 Sustainability Report?
The report emphasizes Kraton's achievements in reducing emissions and enhancing sustainable practices across its operations.
How did Kraton reduce its greenhouse gas emissions?
Kraton achieved a 41% reduction in Scope 1 and 2 emissions from its 2014 baseline, showcasing effective decarbonization strategies.
What ratings did Kraton receive for its sustainability efforts?
Kraton earned the EcoVadis Platinum rating for sustainability for the fourth consecutive year, reflecting its ongoing commitment.
What is included in Kraton's Life Cycle Assessment data?
The LCA data now covers nearly 90% of its product portfolio, providing insights into environmental impacts for customers.
Where can I find the full 2024 Sustainability Report?
The complete report is accessible on Kraton's official website under the sustainability section.
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