Jim Fitterling, Dow chairman and chief executive officer, said, “This announcement is the next step in our sustainability journey that began more than 30 years ago. Climate change and plastic waste are among the greatest technical, social, and economic issues the world has ever faced, and our products and technology are critical to addressing both.”

He added, “At Dow, we have a responsibility and an opportunity to lead in addressing these global challenges. A sustainable future is attainable, but only if we continue to tackle these issues head-on, hold ourselves accountable, and work together to enable new science- and technology-based solutions that directly address both climate change and plastic waste.”

To progress in sustainable manufacturing, Dow has entered into new renewable power agreements for its manufacturing facilities in Argentina, Brazil, Texas, and Kentucky, securing 338 more megawatts of power capacity from renewable sources, representing an expected reduction of more than 225,000 metric tons of CO2e. And the company is on track to exceed its target to source 750 megawatts of renewable power capacity by 2025.

In addition, it has introduced a new line of mechanically recycled plastic resins for flexible and rigid plastic packaging applications which have the potential to reduce carbon and energy footprints of applications by up to 20-30 percent

Dow claims that its plastic waste goals are designed to ensure that its investments and collaboration, including its commitments to and investments in the Alliance to End Plastic Waste and Circulate Capital, have clear targets to stop waste from getting into the environment and to lead the materials science industry towards a circular economy.

Mary Draves, Dow vice president and chief sustainability officer, said, “Reducing the impact of climate change and eliminating plastic waste are societal challenges that are closely linked. As a producer of technologies that are essential to a low carbon economy, we are developing and investing in new production processes that are low-emission and optimally efficient. And we are now looking at waste as a resource that will enable us to continue to innovate sustainable materials.”

The company will also collaborate with leading academics, NGOs, auditing experts, technology partners and others in the industry to incentivise the development and commercialisation of low-carbon products and technologies that lower global greenhouse gas (GHG) emissions.

As outlined in Dow’s 2019 Sustainability Report released today, the company states that it has made significant progress against its 2025 sustainability goals. For instance, since 2006, it has reduced its GHG emissions by 15%, incorporated a carbon price into its business planning and invested in renewable power capacity.