SECTION 2
GREENHOUSE GAS R E D U C T I O N TA R G E T
OPER ATIONS
AT NOVOLEX, OUR PRODUCT AND MANUFACTURING SUSTAINABILITY PROGRAMS COMBINE TO PLAY A VITAL ROLE in our ongoing commitment to reducing greenhouse gas (GHG) emissions from manufacturing. We understand our responsibility to contribute to the global effort to mitigate climate effects, including the escalation of global temperatures, sea level rise and extreme weather events. In 2019, we established a companywide baseline for our global emissions resulting from energy and natural gas use in our facilities, supporting our ability to set targets focused on achieving measurable progress. We are on track to achieve our target due to a series of planned
AT NOVOLEX, we take pride in reducing our impact on the environment across our manufacturing operations. One of our values is environmental stewardship. We focus on raising environmental awareness among members of our Novolex family and creating a culture that drives measurable performance improvements to reduce our environmental footprint. We assess progress through an increasing number of operational KPIs focused
investments in energy efficiency including LED lights, new boilers, chillers, regenerative thermal oxidizers (RTOs) and more. We also purchase renewable energy credits (RECs) and engage in power purchase agreements (PPAs) to reduce our carbon footprint from operations and supplement progress resulting from our capital investments.
on using recycled content, driving energy efficiency to reduce emissions, reducing the
While we move forward to reduce Scope 1 and 2 emissions, in 2022 we also took initial steps to
amount of waste sent to landfills, and more.
build a comprehensive Scope 3 GHG inventory. With a growing foundation of operational data and public metrics that indirectly report on areas relevant to Scope 3 emissions from our upstream and downstream supply chains, we are on a path towards integrated target-setting that encompasses all three scopes. We will remain focused on these objectives as they align closely with the future sustainability of our industry and expectations from our customers and other stakeholders.
NOVOLEX TARGET Achieve a 30% REDUCTION in GLOBAL EMISSIONS per ton of production by 2030. This target is tied to KPIs outlined in our
SUSTAINABILIT Y-LINKED FINANCING, meaning Novolex must achieve annual progress that is assured by a third party in order to renew discounts on our debt financing. 17
