Announces New Global Sustainability Goals to 2025 and Beyond
DOWNERS GROVE, Ill., June 17, 2021 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or the "Company"), a global chemical and ingredient distributor and provider of value-added services, today announces the release of its 2020 sustainability report and the introduction of a new set of global sustainability goals to 2025 and beyond. Now available through the Univar Solutions web site at www.univarsolutions.com, the report tracks the Company's progress against its sustainability goals to 2021, while introducing new ambitious sustainability goals to 2025 with key emissions goals stretching to 2030 in support of a long-term commitment to achieve net-zero emissions by 2050.
For Univar Solutions, managing the Environmental, Social, and Corporate Governance (ESG) risks and opportunities facing the Company is fundamental to its ability to adapt and grow. From its first sustainability report published in 2008, Univar Solutions has consistently demonstrated a commitment to transparency and continuous improvement as it established a first set of goals in 2017, became a signatory of the world's largest corporate sustainability initiative through the United Nations Global Compact (UNGC) in 2018, adopted 'Advancing a Circular Economy' as a sustainability goal in 2019 and found its purpose by supplying critical products during an unprecedented time in 2020.
"When we started this journey with our sustainability goals to 2021, at the time, they were quite the stretch targets, but now that we've largely achieved these and have announced our sustainability goals to 2025, I couldn't be more pleased with our progress as we take yet another step forward to a more sustainable future," said David Jukes, president and chief executive officer. "Now as we look beyond 2025 at our key emissions goals stretching to 2030 in support of a long-term commitment to achieve net-zero emissions by 2050, I'm excited to see us put the needed steps in place to meet our commitments as part of the UNGC."
The 2020 sustainability report reflects the Company's commitment to grow Today, Tomorrow, Together through both its commercial strategic priorities and sustainability approach, while featuring an updated dashboard showing progress against the sustainability goals to 2021 as well as a comprehensive view of the new sustainability goals to 2025 and beyond, including:
Climate Action - Implement the technology, processes and culture to support the Company's journey toward a net-zero carbon future.
Serious About Safety - Keep our employees, vendors and customers safe at work through the Company's safety focused culture and practices.
Resource Use - Drive sustainable resource use through embedding the principles of circularity and operational excellence.
Release Prevention - Support the responsible handling of materials across the Company's operations and supply chain.
Sustainable Sourcing - Drive improved sustainability performance and minimum standards across the Company's diverse supplier base.
Diversity, Equity and Inclusion - Increase diverse representation at leadership levels and create the opportunities and culture to enable every person to bring their authentic selves to work.
Sustainable Solutions - Leverage the Company's portfolio of sustainable products, services, practices and technologies to support customers' sustainability journeys.
Community Engagement – Demonstrate commitment to help keep society healthy, fed, clean, and safe through financial investment and employee involvement in the community.
"As the Company's executive sponsor for sustainability, I was excited to see our senior leadership adopt a three year program where executive compensation is tied to our sustainability goals through ESG based metrics," said Jennifer McIntyre, interim chief people and culture officer. "I'm also equally as excited to see us advance our diversity, equity and inclusion goals through a work environment that is respectful, inclusive and empowers diverse perspectives, which is both the right thing to do as well as a competitive advantage for our business."
Additionally, the report is up-to-date with the Sustainability Accounting Standards Board (SASB) disclosures for the chemical industry and features the latest version of the Global Reporting Initiative (GRI) Standards, which help ensure relevant, transparent, and comprehensive disclosures, and a summary of the material contributions made to the United Nations Sustainable Development Goals (UN SDGs), highlighting the ability of responsible business to make a positive impact on society, the environment, and economies.
"We have set an ambitious strategy that goes beyond reducing our impacts and instead challenges our business and supply chain to create collective benefits for the world around us," said Liam McCarroll, global sustainability director. "Our journey to achieving our new global sustainability goals to 2025 will be embedded in everything we do as a business, today, tomorrow and together because above all it is our home, our responsibility."
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and North American sales force, unparalleled logistics know-how, deep market and regulatory knowledge, world-class formulation development, and leading digital tools the company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. Univar Solutions is committed to helping customers and suppliers innovate and grow together. Learn more at UnivarSolutions.com.
This press release includes certain statements relating to future events and our intentions, beliefs, expectations, and predictions for the future which are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the expectations and assumptions. A detailed discussion of these factors and uncertainties is contained in the Company's filings with the Securities and Exchange Commission. Potential factors that could affect such forward-looking statements include, among others: the ultimate geographic spread of the COVID-19 pandemic; the duration and severity of the COVID-19 pandemic; actions that may be taken by governmental authorities to address or otherwise mitigate the impact of the COVID-19 pandemic; the potential negative impacts of COVID-19 on the global economy and our customers and suppliers; the overall impact of the COVID-19 pandemic on our business, results of operations and financial condition; other fluctuations in general economic conditions, particularly in industrial production and the demands of our customers; significant changes in the business strategies of producers or in the operations of our customers; increased competitive pressures, including as a result of competitor consolidation; significant changes in the pricing, demand and availability of chemicals; our levels of indebtedness, the restrictions imposed by our debt instruments, and our ability to obtain additional financing when needed; the broad spectrum of laws and regulations that we are subject to, including extensive environmental, health and safety laws and regulations; an inability to integrate the business and systems of companies we acquire, including of Nexeo Solutions, Inc., or to realize the anticipated benefits of such acquisitions; potential business disruptions and security breaches, including cybersecurity incidents; an inability to generate sufficient working capital; increases in transportation and fuel costs and changes in our relationship with third party providers; accidents, safety failures, environmental damage, product quality and liability issues and recalls; major or systemic delivery failures involving our distribution network or the products we carry; operational risks for which we may not be adequately insured; ongoing litigation and other legal and regulatory risks; challenges associated with international operations; exposure to interest rate and currency fluctuations; potential impairment of goodwill; liabilities associated with acquisitions, ventures and strategic investments; negative developments affecting our pension plans and multi-employer pensions; labor disruptions associated with the unionized portion of our workforce; and the other factors described in the Company's filings with the Securities and Exchange Commission. We caution you that the forward-looking information presented in this press release is not a guarantee of future events or results, and that actual events or results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek, "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as required by law.