Axalta has committed to a reduction of 50 per cent of Scope 1 and 2 greenhouse gas emissions by 2030, aiming to becoming carbon neutral in its operations by 2040 – a decade ahead of the deadline set by the Paris Agreement. Additionally, the company has made 10 new sustainability commitments for 2030.
“Today, we are coupling our commitment to technology, innovation and people first with our commitment to building a more sustainable future,” said Robert Bryant, President and CEO of Axalta. “Our new goal to achieve carbon neutrality by 2040 enables us to lead our industry by example and to inspire our customers as we work to ensure the long-term well-being of our planet, our partners and our business.”
To set these goals, Axalta said it conducted a comprehensive environmental, social and governance (ESG) materiality assessment with internal and external stakeholders including customers, suppliers, investors, board members, community and local government leaders, and company executives.
Axalta also worked to align with the United Nations Sustainable Development Goals in developing its ESG framework, structured under three key pillars: planet solutions, business solutions and people solutions.
The planet solutions pillar includes goals aimed at improving the company’s environmental performance and reducing the impact of its global operations. Axalta said it is also taking steps to achieve a 10 per cent reduction of VOC emissions, process waste, and water use from operations by 2030.
According to Axalta, the business solutions pillar focuses on how the company’s products, services and technology can help customers design and manufacture finished products to accelerate their own sustainability initiatives. Axalta said it is committing to deliver sustainability benefits from 80 per cent of its new technology and innovation developments by 2030 and increasing, by at least 20 per cent, the total percentage of net sales derived from products, services and tools that offer sustainability benefits.
Axalta said the people solutions pillar will ensure the company continues operating and fostering an environment where all its people can thrive. The company is committing to creating a more diverse and inclusive environment that results in increasing the representation of women in management positions globally to at least 30 per cent by 2030. It will also continue to support its local communities via the Bright Futures Program, which includes STEM and vocational scholarships.
“Our focus on planet, business and people solutions will guide us from a strategic, customer partnership, and employee engagement perspective,” Bryant said. “We’re excited to partner with our people, customers, suppliers and all our other stakeholders around the globe on this journey to create and realise a more sustainable future.”