Celanese Improves CDP Climate Score
Celanese has received a 2022 Climate Score Report of “B” from the CDP for taking coordinated action on climate issues. The “B” rating is higher than the Global average of “C,” the North America regional average of “C,” and the Chemicals sector average of “B-.”
Founded in 2000, CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states, and regions. CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts and to reduce greenhouse gas emissions, safeguard water resources, and protect forests.
The CDP’s Climate Score Report helps companies to progress towards environmental stewardship through benchmarking and comparison with peers to continuously improve their climate governance. CDP annually raises standards for what qualifies as environmental leadership. Since 2021, Celanese has improved its Climate score from “B-“ to “B.” As a next step in its disclosure, Celanese had ERM CVS provide limited assurance of its 2022 CDP Climate Scope 1 and 2 GHG and Energy Consumption numbers.
“As a mission-based non-profit that runs the global environmental disclosure system, CDP greatly values the support of Celanese. Urgent system-wide action remains critical to ensuring that we can limit global warming to 1.5°C, avoid the worst effects of climate change and safeguard our planet’s natural resources,” said Dexter Galvin, CDP Global Director, Corporations & Supply Chains, 2022. “Disclosure is the first key step in addressing current and future environmental risks. Celanese has demonstrated its commitment to transparency around its environmental impacts and strategies for action by disclosing its environmental data through CDP in 2022. Disclosure not only provides the foundation for environmental action, but brings tangible business benefits for shareholders, customers and employees alike.”
The market demand for corporate environmental transparency continues to increase. In a landmark year for disclosure, and with mandatory disclosure regulation set to take effect within the next three years in many major economies, more than 680 investors with over US$130 trillion in assets, and 280+ large purchasers with US$6.4 trillion in buying power requested thousands of companies to disclose through CDP in 2022. This resulted in a record-breaking 18,700+ corporate disclosures, a 233% increase since 2015 when the Paris Agreement was signed.
For further insights and data on transparent reporting and disclosures at Celanese, go to https://sustainability.celanese.com/reporting.