DOMO Chemicals has announced new ambitious sustainability targets, accelerating the company’s strategy to become an industry leader in sustainable development.
At the center of DOMO’s new sustainability strategy is a commitment to:
- Reduce scope 1 and 2 greenhouse gas (GHG) emissions by 40% by 2030 and 80% by 2040 vs. 2019, with a climate neutrality target by 2050
- Increase electricity from renewable sources to 50% by 2030 and 100% by 2040 against a 2019 baseline of 4%
- Double the share of circular products in Engineered Materials sales by 2030 from today’s 10% baseline
DOMO has already made significant progress toward the first two targets, reducing CO2 emissions from 400 kilotons in 2019 to 350 kilotons today and increasing its reliance on renewable energy from 4% in 2019 to 10% today.
DOMO’s new targets demonstrate the company’s commitment to driving climate protection and a circular economy across the entire value chain, contributing significantly to the chemical industry’s ambitions to achieve global CO2 reductions.
“Sustainability is at the core of our corporate strategy and the center of our mission and vision,” said Yves Bonte, Chief Executive Officer. “Following our customers’ feedback on sustainability targets, DOMO is taking the initiative to lead in sustainability.
In very close partnership with our customers, suppliers, and society, we aim to become a benchmark for sustainable development and social responsibility. Ultimately, we want to be recognized among the best in our industry by 2030,” he added.
Ambitious GHG emissions reductions
DOMO will reduce GHG emissions through a variety of initiatives, including collaborations, new recycling technologies, and significant investment in feedstock availability. DOMO will invest in energy efficiency and renewable energy, and improvements to waste fuels and biomass will round out the CO2 reduction strategy.
In recycling, DOMO is aiming for process improvements with its “Move4Earth” feedstock, including dissolving technologies, chemical recycling, and recycling from production waste. Further details will be announced at K 2022 in October.
DOMO’s low carbon footprint solutions, including the TECHNYL® 4EARTH® brand with industry-leading recycling technology, all contribute to its customers’ CO2 reduction ambitions.
DOMO Beyond: The strategic component
DOMO Beyond is the company’s strategic sustainability management system, outlining DOMO’s ambition and approach to sustainable development. It includes specific mid- and long-term actions for key stakeholders, including the planet, employees, communities, investors, suppliers, and customers. It also includes its governance system and annual performance measurements.
“We are fully committed to deliver on those ambitious objectives,” said Wilfred Debus, Chief Corporate Development Officer. “We will succeed together with strategic partners jointly committed to the same ambitious targets as us.
We aim to co-create future sustainable ecosystems in polyamide recycling as well as innovative decarbonized processing routes,” he added.
The revised targets will assist DOMO in contributing to the UN Sustainable Development Goals, while also ensuring that its people, planet, and performance objectives are met.
DOMO’s sustainability governance and resource system, as well as dedicated processes for regular self-assessment and transparent reporting, support the company’s commitment to engaging all stakeholders.
Taking Action: First Sustainability Report
As of July 13th, DOMO released its first sustainability report covering the fiscal year 2021, emphasizing the importance of the company’s investment in this area.
This establishes the foundation for a series of annual reports in which DOMO will communicate its progress and milestones toward industry leadership in sustainability by 2030.
Highlighting DOMO’s journey over the past year, the report showcases its current engagement and plans for the aggressive targets and long-term ambitions in the challenging areas of Planet Care, Responsible Employer, and being a Partner of Choice. The full report can be accessed directly through Company’s website.
The recent “HyDom” project with Hynamics, an EDF Group subsidiary, sets the stage for DOMO’s sustainable energy plans as it swiftly takes action to achieve zero-carbon for 100% of the hydrogen used at the Belle-Étoile industrial site, in Saint-Fons, France.
In addition, DOMO will announce its first Group EcoVadis rating in autumn, expecting to achieve a rating within the industry’s standards.
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