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The facility in Fort Saskatchewan, Alberta, will be the world's first net-zero Scope 1 and 2 emissions ethylene and derivatives complex.
Dow named Supplier Engagement Leader for second consecutive year.
The investment will serve increasing demand in the electric vehicle and energy storage markets in the U.S.
Reducing greenhouse gas emissions is a complex challenge Dow is determined to not only meet, but also to lead in our industry. We are continuously finding ways to reduce emissions from our operations as well as investing in new technologies and processes to decarbonize our industry.
We must lead our industry in delivering materials science innovations that drive the world’s transition to a low emissions future.
We are continuously finding ways to reduce emissions while helping our customers reduce their emissions with innovative, lower-emission products.
We are investing $1 billion per year on average across the economic cycle to drive growth and decarbonization of our manufacturing assets.
Dow recognizes the environmental justice movement as an opportunity to ensure we are appropriately including our communities as we progress through the climate and energy transition.
OUR CLIMATE TARGETS
We are taking a comprehensive and phased approach to reducing GHG emissions, including short-, medium- and long-term reduction targets and actions to achieve them.
To achieve our “Protect the Climate” targets, we are embarking on a plan that encompasses all three carbon emissions Scopes:
Emissions directly under our control from our own operations.
Emissions caused indirectly from the generation of the power we purchase from 3rd parties.
Emissions we are indirectly responsible for, upstream from the products or services we buy from suppliers, and downstream from the transportation, usage and end of life of our sold products.
Through 2050, we will take a phased, site-by-site approach to reducing our GHG emissions footprint. This includes investing approximately $1 billion per year, on average across the economic cycle, to drive both earnings growth and decarbonization of our manufacturing assets. We will replace end-of-life and less efficient assets with technologies to abate GHG emissions, such as hydrogen, carbon capture and storage, and advanced nuclear, among others.
As we decarbonize, we also have a clear path to earnings growth. We remain on track to deliver $3 billion in underlying EBITDA improvements, as we reduce Scope 1 and 2 net annual GHG emissions by 5 million metric tons versus our 2020 baseline by 2030.
Replace end-of-life assets with low GHG tech
Pursue manufacturing efficiency improvements
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Develop next-generation, low-emissions manufacturing technology critical for the future
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Work with value chain to track Scope 3 emissions and identify reduction opportunities
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Design products with lower embedded GHG emissions and/or improve energy/ emissions efficiency
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Integrate clean energy including renewables and nuclear for power and steam
Advocate and collaborate for infrastructure development (CCS, H2, etc.)
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Dow continues to make progress on its Decarbonize and Grow strategy and remains on track to meet both our 2030 and 2050 targets.
Dow has the responsibility and opportunity to step forward when our innovation can make a difference. We can imagine better ways to solve challenges related to climate change and to support our customers on their own journeys. Dow is taking decisive action to transition to a more sustainable future, and this article is designed to provide our partners with a deeper look at our planned Path to Zero.