Dow today announced several new commitments to address both climate change and plastic waste. The company’s new sustainability targets, which align to and build upon its 2025 sustainability goals, include:
- Protect the Climate: By 2030, Dow will reduce its net annual carbon emissions by 5 million metric tons, or 15% from its 2020 baseline. Additionally, Dow intends to be carbon neutral by 2050, in alignment with the Paris Agreement. The company is committed to implementing and advancing technologies to manufacture products using fewer resources and that help customers reduce their carbon footprints.
- Stop the Waste: By 2030, Dow will help “stop the waste” by enabling 1 million metric tons of plastic to be collected, reused, or recycled through its direct actions and partnerships. The company is investing and collaborating in key technologies and infrastructure to significantly increase global recycling.
- Close the Loop: By 2035, Dow will help “close the loop” by having 100% of its products sold into packaging applications be reusable or recyclable. Dow is committed to redesigning and offering reusable or recyclable solutions for packaging applications.
Dow also confirmed today it has entered into new renewable power agreements for its manufacturing facilities in Argentina, Brazil, Texas, and Kentucky, securing 338 more megawatts of power capacity from renewable sources, representing an expected reduction of more than 225,000 metric tons of CO2e. The Company is on track to exceed its target to source 750 MW of renewable power capacity by 2025.
Today Dow also introduced a new line of mechanically recycled plastic resins for flexible and rigid plastic packaging applications which have the potential to reduce carbon and energy footprints of applications by up to 20-30 percent.
Dow’s plastic waste goals are designed to ensure that its investments and collaboration, including its commitments to and investments in the Alliance to End Plastic Waste and Circulate Capital, have clear targets to stop waste from getting into the environment and to lead the materials science industry toward a circular economy.
Dow will also collaborate with leading academics, NGOs, auditing experts, technology partners, and others in industry to incentivize the development and commercialization of low-carbon products and technologies that ultimately lower global GHG emissions and to ensure that companies are able to account for those GHG reductions.