The Chemours Company
The Chemours Company (NYSE: CC), a global leading chemistry company with positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials and Chemical Solutions, reported April 15th that it plans to achieve net zero greenhouse gas emissions by 2050.
Chemours is working to complete a 60% overall reduction of operations that cause greenhouse gas emissions by 2030, setting the firm on the path to net zero greenhouse gas emissions by 2050. The company also reported the designation of Sheryl Telford as Chief Sustainability Officer to head its end-to-end sustainability plans.
Chemours president and chief executive officer Mark Vergnano recently announced that, “Businesses like Chemours have an opportunity to help build a more sustainable future. Our more ambitious greenhouse gas emission goal, along with our other Corporate Responsibility Commitments, reflect our strategy to grow our business responsibly and sustainably. It’s good for business and good for the planet.”
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The Strategy and Approach
Chemours is using a natural approach to resolve its direct emissions from operations (Scope 1) and indirect emissions from electrical and other energy source outputs (Scope 2). To solve Scope 1 emissions, the firm will carry on enhancing their emissions control technologies at its production sites and bring about more energy efficiency improvements across its operations.
This will in turn reduce the volume of greenhouse gas emissions and energy use. To address Scope 2 emissions, Chemours will increase the amount of electricity and other energy generated from renewable sources.
The firm has also begun the process of specifying goals related to indirect emissions caused by its value chain (Scope 3) and will report on them at a later date. To reach net zero greenhouse gas emissions this will need massive amounts of collaboration in both the public and private sectors to bring about technological innovation and government ordinances that pave the way and incentivize the transition to an emission-free economy.