Beyond business as usual: Dow releases new Carbon Partnership Report; highlights strategy and significant achievements to reduce GHG emissions
Dow’s carbon partnerships within the Olympic Movement have delivered third-party verified emission reductions of more than 5.1 million metric tons of carbon dioxide equivalent (CO2e)
MIDLAND, Mich. – November 12, 2020 – In its 2020 Carbon Partnership Report, released today, Dow details the carbon reduction impact of over 20 carbon mitigation projects in more than 12 countries done in collaboration with the Olympic Movement. These projects are part of partnerships with the International Olympic Committee (IOC) and Organizing Committees of the Olympic Winter Games Sochi 2014 and the Olympic Games Rio 2016, making the collaboration between the two organizations one of the most comprehensive carbon mitigation efforts in the history of the IOC and the Olympic Games.
Together, these carbon partnerships have delivered third-party verified emission reductions of more than 5.1 million metric tons of carbon dioxide equivalent (CO2e) since launched. The report outlines how Dow’s partnerships with the Olympic Movement have brought new levels of science, innovation and collaborations across key value chains, going beyond business as usual to advance the adoption of technologies and practices that can build a low-carbon economy.
“Achieving a low-carbon economy requires new ways of collaborating across value chains, as well as investments in capacity building and low-carbon technologies,” said Nicoletta Piccolrovazzi, global technology & sustainability director, Dow Olympic & Sports Solutions. “This report provides verified proof of how collaborations that focus on a clear and common goal and go beyond business as usual can create successful, scalable solutions. Our projects go beyond purchasing carbon offsets to encourage behavior changes that result in real emission reductions.”
The pioneering, cross-sector carbon partnerships have used sport as a platform to enhance visibility and a catalyst to drive wider adoption of locally relevant solutions for reducing emissions in key sectors, including the built environment, food and packaging, renewable energy and industry, and soil and forests—while helping to mitigate the operational carbon footprint of the IOC. This also includes Dow and the IOC’s initiative to encourage global sports organizations, both within and outside of the Olympic Movement, to incorporate tangible climate action into their operations and events.
“Climate change is a global crisis of unprecedented proportions,” said Marie Sallois, IOC Director for Corporate and Sustainable Development. “Tackling this crisis requires teamwork, and the Dow 2020 Carbon Report captures the progress we have made by working as a team. Thanks to our partnership with Dow, the IOC is now a carbon neutral organization, committed to becoming climate positive by 2024. Dow has brought clear, robust and credible criteria to ensure that we make a meaningful impact through the power of sport and science.”
Beyond minimizing the environmental impact, the projects highlighted in Dow’s Carbon Partnership Report help catalyze business growth for Dow’s customers and the industries in which they participate.
“The projects, of course, contribute to the IOC’s sustainability strategy by helping mitigate its footprint. The customers and partners who join this partnership also have potential to gain competitive differentiation and enhance sustainability expertise,” said Sergey Belyavskiy, technology & sustainability leader, Dow Olympic & Sports Solutions. “It’s clear that transitioning to a sustainable future has become a business imperative.”
The 2020 Carbon Partnership Report highlights several ways that Dow’s partnerships ‘go beyond’ to create sustainable economic growth and deliver long-lasting climate benefits, including:
- Going beyond the Olympic Games and host cities to deliver a positive legacy. The mitigation projects implemented through Dow’s carbon partnerships continue to yield environmental benefits and business results for years to come, promoted by the localized adoption of more sustainable technology. A third-party verified carbon accounting period of up to 10 years was agreed upon for the carbon partnerships to deliver on emissions reduction targets and on the vision to contribute to a long-term market transformation.
- Going beyond traditional purchased offsets to encourage collaborations across key value chains that build capacity and enable new low-carbon technologies to be adopted. Together, these carbon mitigation projects have led to nearly 1 million metric tons of greenhouse gas (GHG) reductions in the market sectors of the built environment, food and packaging, renewable energy and industry, and soil and forests.
- Going beyond business-as-usual practices. For each partnership, Dow has developed a portfolio of projects to drive the adoption of carbon-saving technologies and practices that advance more sustainable business with a verified and reduced carbon impact. Project activities include marketing campaigns, equipment and process upgrades, education and capacity-building through collaborations with customers and value chain partners such as PETRONAS Chemicals Group, the U.S. Green Building Council, Firestone Building Products, Restore the Earth Foundation and many more.
- Going beyond targets. Each of Dow’s carbon partnerships with the Olympic Movement have met and exceeded the original emission scope target, not only balancing the operational footprints, but also delivering a positive legacy.
- The Dow Sochi-Carbon Partnerships resulted in third-party-verified climate benefits amounting to 2.8 million metric tons of CO2e, more than five times its commitment to Sochi 2014.
- The Dow-Rio Carbon Partnership has delivered more than 1.5 million metric tons of CO2e to date – exceeding Dow’s commitment to balance the footprint of hosting and staging the Games, and is also leaving a legacy of low-carbon technologies in Latin America.
- The Dow-IOC Carbon Partnership has delivered more than 850,000 metric tons of CO2e to date, exceeding the IOC’s goal to be a carbon-neutral organization.
Environmental Resources Management (ERM) provided third-party verification of projects against the Dow Climate Solutions Framework and verified the GHG emission reductions resulting from the projects and assigned to specific footprint owners. Carbon reductions within this report are validated as of September 2020.
“Whereas most carbon offset programs are related solely to company operations and performance, Dow was an early actor in making the decision to go beyond its own operations to involve its products, its customers and to leave a positive legacy,” said Braulio Pikman, Technical Director, ERM. “Most projects implemented by Dow are the first of their kind in their region, with independent verification providing credibility and the highest quality results in terms of climate and sustainability benefits.”
Climate change is an environmental, societal and business challenge. As a global leader in materials science expertise and producer of low-carbon technologies, but also a major user of energy, Dow is committed to sustainability. In recognition of the responsibility to take action, Dow has pledged to work with customers, suppliers and value chain partners to reach carbon neutrality by 2050. These programs implemented with and through sport offer clear examples of how Dow’s science-based solutions and collaborations can help unlock carbon reductions across the value chain. An overview on the projects can be found in more detail in Dow’s 2020 Carbon Partnership Report.
Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.
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