Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity, and health, has released its 2023 Sustainability Report titled “All the Elements for a Better World.” This comprehensive report outlines the company’s progress and updates on its sustainability strategy, demonstrating its commitment to creating a more sustainable future.
Kent Masters, Chairman and CEO of Albemarle, emphasized the company’s dedication to sustainability, stating, “Sustainability is core to who we are and how we choose to operate. This report reflects our commitment to providing enduring value for our stakeholders as we seek to create a more resilient world. The progress to date is a credit to the employees, investors, customers, and communities who share our vision for the future.”
Highlights of the Sustainability Report include:
- Albemarle earning an EcoVadis Gold Medal, placing it in the top 95th percentile among all companies rated in the past year for its sustainability efforts.
- Conducting a double materiality assessment to identify key sustainability issues, resulting in updated focus areas such as waste and circularity, responsible sourcing, innovation, talent, and culture.
- An innovative agreement with Martin Marietta Materials to repurpose byproduct material from Albemarle’s Kings Mountain Mine Project in a sustainable and responsible manner.
- Achieving an Initiative for Responsible Mining Assurance (IRMA) 50 level performance score for the Salar de Atacama site in Chile, becoming the first lithium producer to complete an independent audit published by IRMA.
- Expanding life cycle assessments, including completing the company’s first in-house product carbon footprint study of elemental bromine produced in Magnolia, Arkansas.
- Building strong customer relationships, including a new partnership with Caterpillar Inc. to collaborate on solutions supporting a full circular battery value chain and sustainable mining operations.
The report also highlights the company’s progress toward its sustainability targets, including reducing freshwater usage, achieving carbon-intensity neutral growth, collecting emissions data from suppliers, reducing absolute carbon emissions, and reducing sulfur oxide emissions.
Albemarle’s 2023 Sustainability Report was developed with reference to the Global Reporting Initiative (GRI) standards, the Sustainability Accounting Standards Board (SASB) standards, and recommendations outlined by the Task Force on Climate-Related Financial Disclosures (TCFD).
To access the full report, visit Albemarle’s website at www.albemarle.com. The website’s new sustainability section features reporting content, including management approach, policies, and sustainability data downloads, in addition to global enterprise information on business units, product offerings, and other corporate updates. The sustainability hub will also feature the company’s upcoming Sustainability Day video on highlights from the report in late June 2024.
