Ambitious Sustainability Targets

DOMO Chemicals announces ambitious new sustainability targets, accelerating its strategy to be recognized as an industry leader in sustainable development.   The centerpiece of DOMO's new sustainability strategy includes: • Climate neutrality goal by 2050, reducing Scope 1 and 2 greenhouse gas (GHG) emissions by 40% by 2030 and 80% by 2040 compared to 2019. • Increasing electricity from renewable sources from a 4% baseline in 2019 to 50% by 2030 and 100% by 2040. • Doubling circular products in Engineering Materials sales from the current 10% baseline by 2030. DOMO has made significant progress toward the first two targets, reducing CO2 emissions from 400 kilotons in 2019 to 350 kilotons today and increasing electricity from renewable sources from 4% in 2019 to 10% today. [caption id="attachment_142611" align="aligncenter"] DOMO's TECHNYL® polyamide-based engineering materials continue to be an important step in the company's goal to lead sustainable development by 2030.[/caption] DOMO's new targets demonstrate the company's commitment to proactively driving climate protection and a circular economy across its entire value chain, making a significant contribution to the chemical industry's global CO2 reduction targets. Chairman of the Executive Board Yves Bonte said, "Sustainability is at the center of our corporate strategy, mission and vision." "Following feedback from our customers on their sustainability targets, DOMO is taking initiative to be a leader in sustainability. In close partnership with our customers, suppliers and society, we aim to be a benchmark for sustainable development and social responsibility. As a result, we want to be recognized among the best in our industry by 2030," he said.  

Ambitious greenhouse gas emission reductions

DOMO will reduce GHG emissions through various initiatives including partnerships, new recycling technologies and significant investments in raw material availability. While DOMO invests in energy efficiency and renewable energy, waste fuels and biomass improvements will complete the CO2 reduction plan. DOMO targets process improvements including solving technologies with "Move4Earth" raw material in recycling, chemical recycling and recycling from production waste. More details will be announced in October at K 2022. DOMO's low carbon footprint solutions, including the TECHNYL® 4EARTH® brand with industry-leading recycling technology, all contribute to customers' CO2 reduction targets. [caption id="attachment_142612" align="aligncenter"] Recent developments in lightweight and e-mobility strengthen global demand for DOMO's sustainable performance solutions such as TECHNYL® 4EARTH®.[/caption]

DOMO Beyond: Strategic Component

DOMO Beyond is the company's strategic sustainability management system that summarizes DOMO's ambition and sustainable development approach. It includes concrete medium and long-term actions for key stakeholders - Planet, Employees, Communities, Investors, Suppliers and Customers. It also covers annual performance measurements alongside the management system. Head of Corporate Development Wilfred Debus said, "We are fully committed to achieving these ambitious targets." "We will succeed together with strategic partners committed to the same ambitious targets as us. We aim to jointly create the sustainable ecosystems of the future in polyamide recycling and innovative low-carbon processing routes," he said. The revised targets will help DOMO contribute to the UN Sustainable Development Goals supported by governance to achieve targets for people, planet and performance. DOMO's sustainability governance and dedicated processes for regular self-assessment and transparent reporting with resource systems complete the company's commitment to engaging with all stakeholders.  

Taking Action: First Sustainability Report

On 13 July, DOMO published its first sustainability report covering the 2021 reporting year, emphasizing the company's priority investment in this area. This forms the foundation for a series of annual reports that will communicate DOMO's progress and milestones toward industry sustainability leadership by 2030. The report, highlighting DOMO's journey last year, showcases the company's current commitment and plans for aggressive targets and long-term goals. Ambitions in challenging areas such as Planet Care, Responsible Employer and Preferred Partner. The full report can be accessed from the DOMO Chemicals website. The recently completed "HyDom" project with Hynamics, a subsidiary of EDF Group, is moving quickly to achieve zero-carbon for 100% of hydrogen used at the Saint-Belle-Étoile industrial site, laying the groundwork for DOMO's sustainable energy plans. Fund, France Also, DOMO will announce its first Group EcoVadis score in the fall, expecting to obtain a rating in industry standards.       SOURCE