Hexion Releases Updated Sustainability Goals for 2020 and Beyond

COLUMBUS, Ohio--(BUSINESS WIRE)--Hexion Inc. (“Hexion” or the “Company”) is strengthening its commitment to minimize its impact on climate change and develop more innovative sustainable products as part of its updated sustainability goals for 2020 and beyond.

“Our focus on sustainability and the societal trends we see is greater than ever before,” said Craig Rogerson, Chairman, President and Chief Executive Officer. “Faced with a global pandemic, climate change and opportunities surrounding diversity, equity and inclusion, we continue to focus our efforts on making a positive impact while accelerating our growth. These new goals strengthen our long-standing commitment to sustainability and delivering on our strategic approach to ‘Responsible Chemistry,’ which includes supporting our associates, customers and communities.”

Earlier this year, the Company completed an updated materiality assessment where it engaged with various internal and external stakeholders. From that assessment, the Company determined its most important areas of focus. While not limiting its sustainability efforts to these focus areas alone, these topics drove bold goal discussions and included:

• Minimizing climate change impact - Hexion will strive to protect against climate change throughout its business lifecycle by efficiently using natural resources, optimizing existing processes and enhancing products and technologies through continuous innovation.
• Developing innovative sustainable products - Hexion is committed that by 2030, all new products will incorporate sustainable attributes.
• Enhancing worker safety/well-being - By 2022, Hexion will offer a voluntary well-being program that addresses associate physical, mental, and financial well-being with the goal of 50% associate participation in the program by 2025. Hexion also re-affirmed its commitment to continue to drive toward zero recordable injuries.
• Reducing spills and releases - Hexion has committed to reduce spill mass and releases by 80 percent by 2025.
• Maintaining product stewardship - Hexion remains committed to implementing the Responsible Care Product Safety Code and will continue to be transparent and communicate to key stakeholders regarding its stewardship programs such as risk reviews and reduction of substances of concern.

“Meaningful impact is driven by action more than intent, which is why Hexion completed a materiality assessment in 2020 as part of its ongoing sustainability strategic planning initiatives,” said Stephanie Couhig, Senior Vice President, Environmental, Health and Safety, Hexion. “By focusing efforts on these goals, Hexion can make a positive change. From demand for energy efficiency to creating bio-based and circular products, chemistry can play an important role in addressing climate change as we positively address our carbon footprint.”

Work continues to establish an aspirational goal around climate change and Greenhouse Gas emission reductions, as well as assembling Hexion’s Scope 3 emissions. All are expected to be finalized in the first quarter of 2021.

For more about Hexion’s updated Sustainability goals, visit www.hexion.com/sustainability.

About the Company

Based in Columbus, Ohio, Hexion Inc. is a global leader in thermoset resins. Hexion Inc. serves the global adhesive, coatings, composites and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Additional information about Hexion Inc., its products and sustainability is available at www.hexion.com.