WAYNE, Pa.--(BUSINESS WIRE)--Trinseo (NYSE: TSE), a specialty material solutions provider, announced today the release of its 2023 Sustainability & Corporate Social Responsibility Report, which details how the Company is materializing a sustainable future through progression of its 2030 Sustainability Goals.
Highlights from the 2023 Sustainability Report include:
- Addressing Scope 3 Emissions: Trinseo completed baseline calculations for Scope 3 emissions in 2022. The Company continues to refine this data in 2023, as well as integrating a supplier engagement plan and training the Procurement team and other stakeholders.
- Securing Supplies of Sustainable Feedstocks: In January 2022, Trinseo acquired Heathland B.V., located in the Netherlands. This backward integration strategically positions the Company within the market and enhances its footprint and capability as a sustainable solutions provider. Heathland is the first recycler that Trinseo has acquired, which is a milestone step in the Company’s transformational journey into a specialty material solutions provider.
- Expanding Availability of Sustainably Advantaged Materials: One of Trinseo’s Sustainability Goals is to have 40% of its product portfolio sustainably advantaged by 2030. In 2022, the Company’s sustainably advantaged materials sales increased by 11%. This demand is an opportunity to bolster Trinseo’s business strategy for growth through innovative products.
“Our strategy delivers innovative materials for today’s challenges and envisions bold, new approaches to address our environmental impact. By thinking in both the short and long terms, we can develop an agile, flexible strategy that prioritizes not only products, but people, too—because we can see the impact we have on our facilities and teams over time, as well as the local communities in which we participate,” said Frank Bozich, President and Chief Executive Officer.
The Company’s 13th annual Sustainability Report was prepared with reference to the Global Reporting Initiative (GRI) 2021 Universal Standards, which were implemented this year. GRI is the leading independent organization providing a common language and framework for public sustainability reporting, and Trinseo’s transition to the 2021 Universal Standards builds on the Company’s legacy of sustainability transparency. As part of this alignment, Trinseo transitioned its Material Topics away from a matrix to a 360-degree perspective of Environment, Economy, and Social (EES), which better evaluates the Company’s impact on stakeholders. The report also incorporates disclosures referencing frameworks for the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Disclosures (TCFD).
To complement the Sustainability Report, Trinseo also published a Core Impact Report that provides a holistic view of how the Company defines, creates, and disperses value over time. This year, the report also aligns with an EES perspective that showcases how the Company’s intrinsic value is connected to the impact on their stakeholders.
“Sustainability reporting is at a critical juncture with the implementation of the new 2021 GRI disclosures and forthcoming U.S. and European reporting policies,” said Francesca Reverberi, Chief Sustainability Officer and Senior Vice President. “With an eye to the future, 2022 was our year to begin materializing our sustainability initiatives and shaping the future of our industry. Our first full year with the Sustainability Business and Services Team brought great progress along our journey to becoming a global specialty materials and sustainable solutions provider.”
For more information about how Trinseo is materializing a sustainable future, visit: www.Trinseo.com/Sustainability.
Trinseo (NYSE: TSE), a specialty material solutions provider, partners with companies to bring ideas to life in an imaginative, smart and sustainably focused manner by combining its premier expertise, forward-looking innovations and best-in-class materials to unlock value for companies and consumers.
From design to manufacturing, Trinseo taps into decades of experience in diverse material solutions to address customers’ unique challenges in a wide range of industries, including building and construction, consumer goods, medical and mobility.
Trinseo’s approximately 3,400 employees bring endless creativity to reimagining the possibilities with clients all over the world from the company’s locations in North America, Europe and Asia Pacific. Trinseo reported net sales of approximately $5.0 billion in 2022. Discover more by visiting www.trinseo.com and connecting with Trinseo on LinkedIn, Twitter, Facebook and WeChat.
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