Albemarle Corporation announced the release of its annual global sustainability report. Featuring Albemarle's renewed approach to sustainability efforts, this report shares the company's results against 2019 sustainability activities around the globe and demonstrates Albemarle's core values in action.
"In 2019, we took great care to identify a different approach to how we look at sustainability and how it fits into our overall business strategy," said Kent Masters, Albemarle CEO. "We conducted a materiality assessment with key stakeholders to gather insights into topics that matter most for the execution of our strategy and creation of long-term value for our partners. The findings are reflected in our new sustainability framework. As we look ahead, we shift our focus from setting our baseline sustainability performance to continuous improvement to continue creating sustainable value for our communities, customers and stakeholders around the world."
Albemarle's sustainability framework includes four quadrants of focus: people and workplace, natural resources, community engagement, and the company's sustainable business model. In addition to the framework, the key topics from the company's materiality assessment include: safety, inclusive and diverse workplace, investment in talent, energy management, greenhouse gas emissions, water management, minerals management, community/stakeholder engagement, innovation, business ethics, and regulatory compliance/product stewardship.
This sustainability report marks a renewal of Albemarle's sustainability journey forward. The 2019 report references the latest version of the Global Reporting Initiative (GRI) standards, which ensures relevant and transparent disclosures, and Sustainability Accounting Standards Board (SASB) standards that help disclose material, decision-useful information to investors.
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