Report Announces Commitment to UN Global Compact and Highlights Progress on 2025 Sustainability Goals
BOSTON--(BUSINESS WIRE)--Aug. 20, 2015-- Cabot Corporation (NYSE: CBT) today released its 2014/2015 Sustainability Report and third Global Reporting Initiative (GRI) Report highlighting the company's sustainability progress as well as expanded and enhanced sustainability goals.
In the report, Cabot announces that it has joined the United Nations Global Compact (UNGC). Though a new endorser of the UNGC, Cabot has long fostered the spirit and intent of the 10 universally accepted UNGC principles in the areas of human rights, labor, environment and anti-corruption. These principles are a natural extension of Cabot's values and business model, and the company continues to have strong programs that positively impact employees, customers, suppliers and the communities in which it operates.
"At Cabot, sustainability is a critical component of our business strategy and culture. As a global business, there are no issues that are more important than those outlined by the UNGC, which are ultimately about treating people, the planet and our stakeholders with the highest degree of respect and concern," said Cabot President and Chief Executive Officer Patrick Prevost. "This is why we have become a signatory for the UNGC. In adhering to the UNGC principles, we have furthered our commitment to outstanding performance and transparency as we continue to grow as a sustainable and prosperous company."
The report also establishes a new chapter for Cabot with the introduction of 2025 global sustainability goals. Cabot continues to make progress with its long-standing goals to reduce its energy and greenhouse gas intensity. In order to have a broader impact, the report introduces new goals focused on air emissions, waste generation and the safety of our employees, contractors and visitors. These new goals combined with Cabot's commitment to the UNGC showcase the company's dedication to improved sustainability performance and continued progress.
Some of the accomplishments profiled in this report include achieving more than 60% of the 2025 energy intensity reduction goal (the amount of energy needed to make a unit of product) and completing 23% of the 2025 greenhouse gas emission intensity reduction goal. In addition, the Cabot Corporation Foundation and Cabot's global locations contributed approximately $2 million in charitable donations to support the global communities in which we operate, and continued its focus on supporting science, technology, engineering and math (STEM) education.
"Our sustainability efforts continue to evolve and adapt, and we are proud of the progress that we have made," said Martin O'Neill, senior vice president, Safety, Health and Environment. "Our achievements globally are a direct reflection of our dedicated employees from around the globe who work hard at ensuring that our sustainability initiatives complement our business objectives. This approach not only benefits Cabot, but also has lasting effects on our communities and the environment, and enables the long-term profitable growth that drives value creation for our customers."
The 2014/2015 Sustainability Report demonstrates Cabot's commitment to continuous improvement, increased disclosure, risk assessment and expanded stakeholder engagement. The GRI Application Level Services confirmed Cabot's report fulfills the requirements of Application Level B per the GRI G3 reporting guidelines. Furthermore, Cabot will report its 2014 greenhouse gas (GHG) emissions to the Carbon Disclosure Project (CDP) for the sixth consecutive year. The CDP promotes the disclosure of GHG emission data by the world's largest corporations to create the most comprehensive repository of GHG emissions data. The data is then made available to institutional investors, business leaders, policy makers and the general public.
The full 2014/2015 Sustainability Report is available at cabotcorp.com/sustainability.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, and aerogel. For more information on Cabot, please visit the company's website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
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Source: Cabot Corporation
Cabot Corporation
Vanessa Craigie, 617-342-6015
Corporate Communications