DOMO Chemicals has announced its goal of being a benchmark and pioneer in sustainable development and social responsibility by 2030, with specific goals and metrics to guide a decade of progress.
DOMO has committed to zero CO2 emissions growth by 2030 compared to 2019, a 15% reduction in carbon content in the company's energy mix, and a 7% reduction in industrial waste. DOMO's long-term goal is to achieve climate neutrality by 2050.
It has also promised to assist its consumers by expanding its offering of sustainable solutions, which will include a 20% increase in sustainable applications, a 20% reduction in DOMO's carbon footprint, and a 50% increase in circular solutions.
The protection of DOMO's global operations is one of the company's most significant social success goals. DOMO has set safety targets for the newly launched Care to be Safe journey, which are applicable across the whole community, with the ultimate target of zero injuries. Another pillar of the company's performance would be ongoing workforce growth, with an employee retention rate that exceeds the industry average.
"The pursuit of sustainable value creation and long-term sustainable growth is deeply embedded in DOMO’s vision and mission as well as with our family shareholders. To achieve this sustainability, we are continuing a carefully planned transformation with a clear roadmap and objectives," said DOMO CEO, Yves Bonte.
The company has also developed ‘DOMO Beyond’, a bespoke, inhouse sustainability management system that will help to embed sustainable value creation and long-term growth. The DOMO Beyond system is the translation of DOMO’s ambition which will help to measure progress each year on all three dimensions of ESG.
DOMO is already reducing the footprint of its polymers by producing more efficiently with less energy consumption. In addition, the company is increasingly developing products based on alternative raw materials - such as bio-based materials - that are completely relegated after their lifetime – and reusing post-industrial and post-consumer waste.
"With Econamid and Technyl4Earth, we have two strong brands contributing to circular economy, in which already used polymers are used again for new, high-quality applications, resulting in a large reduction in CO2 emissions, water consumption and energy consumption, and we continue to build on these solutions,” Bonte explained.
Industry-wide partnerships will be needed to achieve sustainability targets at the same time as generating business value. One example is the collaboration between DOMO, Covestro and Circularise, an innovative transparency start-up, to set up an open standard for sustainability and transparency in plastics supply chains using blockchain technology. One of its first projects is a blockchain traceability project as part of the Startup Autobahn program, bringing together Porsche and material suppliers Borealis, Covestro and DOMO.
DOMO is about to launch a proactive campaign on its sustainability roadmap as well as continuing to build this plan with customers.
* TECHNYL® is a trademark of DOMO. TECHNYL® portfolio is exclusively developed and sold by DOMO in the EEA, Switzerland and, from February 2022, also in all other global regions.
