Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity, and health, today published its 2024 Sustainability Report. Entitled Values-Led, Purpose-Driven, the report provides an update on Albemarle's achievements in line with the company's sustainability goals.
"As a values-led organization, sustainability is foundational to how we choose to operate," said Albemarle Chairman and CEO Kent Masters. "The initiatives outlined in this report speak to our commitment to creating a more resilient world. We remain dedicated to minimizing our environmental footprint, creating responsible and reliable products for our customers, and engaging with our communities to foster positive outcomes."
Report Highlights
Reducing Our Carbon Footprint - Due to efficiency improvements and increased procurement of renewable and carbon-free electricity, we remain on track to grow our Energy Storage business in a scope 1 and 2 carbon intensity-neutral manner. In addition, our Specialties and Ketjen segments also remain on track to meet their 2030 scope 1 and 2 carbon emissions targets on an absolute basis. - 24% of our total electricity consumed was generated from renewable sources, an increase from 16% the previous year. - Initiated a decarbonization roadmap to assess enterprise hot spots and identify intervention approaches including electrification and renewable/carbon-free electricity, process changes and efficiency improvements, fuel substitutions and end-of-pipe solutions.
Practicing Responsible Freshwater Management - Our operations in Chile and Jordan are on track to meet our 2030 freshwater intensity target. - In Chile, we achieved an additional 28% reduction in freshwater intensity by further optimizing the efficiency of our La Negra facility and completing the first year of continuous operation for our Salar Yield Improvement Project. - At our Jordan Bromine Company (JBC) joint venture, we achieved the mechanical completion of NEBO, a process upgrade that is expected to bring the facility's freshwater intensity in line with 2030 targets.
Supporting Our Customers' Sustainability Goals - We expanded the development of externally verified Product Carbon Footprints to include more bromine and lithium products from locations in the U.S., Jordan and China.
Promoting the Resilience of Our Communities - A human rights assessment was conducted at our Salar de Atacama site in Chile to confirm our standards and tools align with global best practices to protect the rights of our employees, suppliers and communities.
To read Albemarle's 2024 Sustainability Report, visit the company's website at www.albemarle.com. The report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).
2024 Sustainability Report Highlight Video
Albemarle Corporation's 2024 Sustainability Report, entitled Values-Led, Purpose-Driven, provides an update on Albemarle’s achievements in line with the company's sustainability goals. Video Credit: Albemarle Corporation