Subjects: SVY, CSR, LGB, ENI, DEI, ESG
Univar Solutions Publishes 2021 Environmental, Social and Governance (ESG) Report
Company achieves public sustainability goals launched in 2017
Details progress toward ESG goals to 2025 and beyond, including key emissions
targets to drive the Company's journey to a net-zero carbon future
DOWNERS GROVE, Ill., June 23, 2022 /PRNewswire/ -- Univar Solutions Inc. (NYSE: UNVR) ("Univar Solutions" or "the Company"), a leading global commodity and specialty chemical and ingredient distributor and provider of value-added specialty services, today released its 2021 ESG report, which is available through the Univar Solutions website at https://www.univarsolutions.com/sustainability.
The report tracks Univar Solutions' progress against its ESG targets over the past year, including the successful completion of its initial five-year goals, launched in 2017, and ongoing progress toward its recently launched ESG goals to 2025 and beyond. Among other 2021 metrics, the Company reported the following:
- Reduced global Scope 1 and 2 carbon intensity by 39 percent (from a 2016 baseline), exceeding its reduction target of 15 percent;
- Continued enhancement of its industry-leading safety practices, resulting in 41 percent fewer recordable injuries, despite increased distribution volumes and warehouse activity;
- Reduced hazardous waste intensity by 45 percent through waste handling improvements throughout the year (as compared to 2016 baseline), significantly exceeding the reduction target set from our 2016 baseline;
- Introduction of environmental and social considerations into its supplier assessment process;
- EcoVadis engagement to assist with driving environmental and social improvements in its supply chain;
- A 36 percent reduction (from 2016) of significant releases, a tremendous outpacing of its original goal; and
- An increased number of Employee Resource Networks (ERNs), committed to empowering employees as part of its diversity, equity and inclusion (DEI) actions.
"2021 was a particularly significant year in our sustainability journey as we marked major milestones in environmental sustainability, social impact and good governance, and met our first public sustainability goals set through this year," said David Jukes, president and chief executive officer. "Looking ahead, we intend to measure our steady progress toward our new set of goals for 2025 and beyond, as part of our continued efforts to build a better tomorrow for future generations. We remain steadfast in our commitment, and I'm pleased to see our business making such a strong start in the new, yet challenging and ambitious, chapter on our future sustainability journey."
Throughout 2021, Univar Solutions accelerated the integration of its new ESG goals across the Company globally. By incorporating sustainability into its operating strategies, processes and culture, Univar Solutions is well positioned to meet its future goals. Other notable highlights include mapping out, for the first time, Scope 3 emissions for its entire supply chain, thereby setting the path for broader emissions reduction actions; being recognized as a Best Place to Work for LGBTQ+ Equality by the Human Rights Campaign (HRC) Foundation, after achieving a score of 100 of the HRC Foundation's Corporate Equality Index; and increasing on-site generation of renewable electricity as part of the Company's commitment to achieve net-zero operational emissions by 2050.
"As a Company, we understand the importance of a measurable commitment to ESG, making a positive impact on the world around us," said Jen McIntyre, chief people & culture officer and executive ESG lead at Univar Solutions. "Managing ESG risks and opportunities is fundamental to our ability to adapt and grow, and we are proud to have consistently demonstrated our commitment to transparency and continuous improvement over the years."
"Our team has set an ambitious strategy to challenge our business and supply chain to create collective benefit in our value chain," said Liam McCarroll, global sustainability director. "Through our ESG goals to 2025 and beyond, and together with our employees, customers, suppliers, and other stakeholders, we will strive to deliver meaningful change for a more sustainable world."
For a complete review of Univar Solutions' progress to a more sustainable future, please see the full sustainability report at: https://www.univarsolutions.com/sustainability
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global commodity and specialty chemical and ingredient distributor representing a premier portfolio from the world's leading producers. With the industry's largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe 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. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at univarsolutions.com.
Forward-Looking Statements
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.
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