Avient continuously strives for energy efficiency and global climate protection. Doing so adds value to both the world and our company. It minimizes the risk of harming human health and the environment, while also reducing potential liabilities and negative impacts on our business.
We acknowledge the implications of climate change. Avient’s EH&S Committee of the Board of Directors provides oversight of the systems that are in place to monitor and mitigate our carbon footprint. This Committee utilizes findings from the company’s Enterprise Risk Management system to continuously identify and monitor the company’s management of the physical risks associated with climate change including extreme weather events, supply chain disruptions, and technology changes, as well as the risks associated with legal, regulatory, policy, energy transition and liability issues arising from climate change.
Avient’s low carbon transition plan currently encompasses Scope 1 (direct) and Scope 2 (indirect) sources of greenhouse gas emissions. These targets are in line with prevailing climate science limits that keep global warming well below 2 degrees Celsius as detailed by the Paris Agreement and the Science-Based Target Initiative (SBTi). Beyond our stated 2030 goal, we are dedicated to our operations being carbon neutral by 2050. Furthermore, Avient is evaluating its Scope 3 emissions to refine our climate strategy and align with science based targets built around scenario analyses as recommended by the Task Force on Climate-related Financial Disclosures (TCFD).
Avient actively manages direct and indirect energy consumption for existing operations and considers the GHG impacts of investments and acquisitions. To strengthen our oversight of this key topic, Avient recently formed a Planet Sub-Committee of the Sustainability Council. This committee is comprised of operational and sourcing leaders from our various regions and is tasked with enabling sustainable performance through improvements in the areas of energy efficiency, energy procurement, the expanded use of renewables, and waste minimization. This Committee ensures continual progress towards our 2030 Sustainability Goals.
Most of Avient’s GHG emissions are attributable to the consumption of energy. Annually, each facility is expected to complete an energy saving activity, and facilities can use an Energy Saving Projects & Idea Tool to capture information on savings and impact realized. This tool combines information, advice, best practices, and successful optimization projects, as well as key figures and tools that support energy efficiency, enabling users to systematically improve the efficiency of operations. We were able to further optimize the resource and energy consumption of our production through initiating 74 energy saving projects around the world in 2020. For detailed information on our energy and carbon performance, risks and opportunities presented by climate change, and associated governance systems, we invite you to read our most recent Climate Change Report submitted to CDP. Avient leverages CDP’s Climate Change Report as its primary mechanism to publicly disclose progress against TCFD recommendations. Our performance on both energy consumption and GHG emissions is provided in graphics at right.