Minerals Technologies Inc. Unveils 2024 Sustainability Report
--- Achieved 11 out of 12 environmental targets a year ahead of goal ---
--- Reduced Scope 1 emissions by 14% and Scope 2 emissions by 10% year over year ---
--- Delivered world-class safety performance ---
--- 66% of new products have a sustainable profile ---
NEW YORK — Minerals Technologies Inc. (NYSE: MTX), a prominent technology-driven specialty minerals company, has proudly released its 2024 Sustainability Report. This edition marks the 17th occurrence in which the company showcases its commitment to environmental stewardship, safety standards, and community engagement.
Douglas T. Dietrich, Chairman and Chief Executive Officer of MTI, expressed his satisfaction with the company’s achievements. "Sustainability is integral to our operations, not just an afterthought. We take pride in surpassing nearly all of our environmental goals. Our team’s dedication to community support, safety, and innovative solutions reflects our sustainable ethos," he noted.
Sustainability Highlights of 2024
In 2024, Minerals Technologies Inc. has made remarkable strides in various sustainability metrics. Some of the major highlights include:
Safety Performance
The company achieved outstanding results in safety management, evidenced by a total recordable injury rate of 0.77 and a lost workday injury rate of 0.15, as defined by the U.S. Occupational Safety and Health Administration (OSHA).
Environmental Achievements
MTI reached 11 out of its 12 set environmental goals one year ahead of schedule. The significant reduction of Scope 1 emissions by 14% year over year, and a 32% reduction since 2018 demonstrates a strong commitment to sustainability. Additionally, there has been a remarkable ~70% reduction in coal usage.
Water Conservation Efforts
The company has also focused on conserving water resources, boasting a 4% reduction in water withdrawal year over year and a 13% decrease in water discharge since 2018.
Innovative Emission Management
MTI has actively extracted over 1.1 million metric tons of waste CO2 from both customers’ and its own exhaust stacks, effectively sequestering emissions into usable products.
Embracing Technology for Sustainable Operations
New AI-enabled technologies have been deployed in MTI’s mining operations, significantly enhancing operational safety and sustainability. These advancements support the company’s mission to provide innovative products to clients designed to help them achieve their environmental and operational goals.
In fact, an impressive 66% of MTI's new products introduced in 2024 have been developed with sustainability in mind, encompassing a wide range from natural solutions to effective waste reduction and pollution prevention methods.
Furthermore, the company’s global employees actively participated in several community initiatives. Engaging in projects such as fundraisers, book donations, and neighborhood clean-ups demonstrates MTI's dedication to the communities they serve.
About Minerals Technologies Inc.
Minerals Technologies Inc. is at the forefront of the specialty minerals industry, committed to developing and marketing a diverse portfolio of mineral products, related systems, and services. With a global reach, MTI serves various consumer and industrial markets, including pharmaceuticals, food, automotive, and environmental sectors. The company reported impressive global sales of $2.1 billion this past year, affirming its role as a leader in sustainable business practices.
Frequently Asked Questions
What is the main focus of the 2024 Sustainability Report?
The report emphasizes Minerals Technologies' achievements in environmental goals, safety performance, and community engagement activities.
Which environmental targets did MTI achieve ahead of schedule?
MTI achieved 11 out of 12 environmental targets one year ahead of the planned timeline, showcasing their commitment to sustainability.
How did MTI enhance its safety performance in 2024?
MTI's safety performance was highlighted by their total recordable injury rate of 0.77 and a lost workday injury rate of 0.15 as certified by OSHA.
What technologies did MTI implement for sustainability?
The company deployed AI-enabled technologies in its mining operations, significantly contributing to safer and more sustainable operations.
What percentage of new products from MTI focus on sustainability?
66% of MTI's new products launched in 2024 are designed with a sustainable profile, addressing various environmental challenges.
