Eastman Chemical Company Issues Sustainability Report, "Connecting Science and Sustainability"

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Eastman Chemical Company

Eastman Chemical Company Issues Sustainability Report, "Connecting Science and Sustainability"

Press Release
Monday, October 10, 2011 - 12:00pm

(3BL Media / theCSRfeed) Kingsport, TN - October 10, 2011 - Eastman Chemical Company (NYSE:EMN) today released its second sustainability report, a comprehensive review of the company’s sustainability strategy, progress, advancements and goals. The complete report is available at www.eastman.com/Sustainability

“Sustainability is an essential part of Eastman’s business, representing our culture of continuous improvement, innovation and responsibility,” said Jim Rogers, chairman and chief executive officer, Eastman. “Eastman’s growth will depend on how well we continue to integrate sustainability into everything we do -- from running energy efficient operations and developing sustainable products, to protecting the earth’s valuable natural resources and actively engaging with the communities in which we live and work. We believe sustainability is beneficial to our business, our customers and, most importantly, our world.”
 
A significant milestone over the past year was Eastman’s appointment of a Chief Sustainability Officer (CSO), Godefroy Motte, who brings additional pioneering thinking and a personal passion to further the company’s deep-rooted commitment to sustainability.
 
The sustainability report provides empirical data through 2010 and includes Eastman’s progress through 2011, including advances made in its sustainably advantaged products and processes and measurable short-term, mid-term and long-term goals. Highlights include:
  • Integrating its annual Responsible Care® performance into the foundation of its sustainability activities

  • Ensuring that two-thirds of revenues from new product launches are advantaged on assessed sustainability criteria by 2015

  • Using cogeneration, Eastman converts approximately 70 percent of the energy it obtains from fossil fuel into power and steam to run its manufacturing processes.

  • Pledging to reduce energy intensity by 25 percent over a 10-year period in partnership with the United States Department of Energy’s Save Energy Now Leader program

  • Planning to have preliminary Life Cycle Assessments (LCAs) for all new product family launches by 2015 and have already completed LCAs on more than half of the product families that represent 80 percent of its current revenues

  • Implementing a Strategic Safety Initiative and setting new aggressive goals

“I am pleased about the progress we have already made, and am committed to leveraging sustainable development as a source of competitive advantage.” said Godefroy Motte, Chief Sustainability Officer, Eastman. “With this report, we are increasing our commitment and our transparency across the three dimensions of sustainability. The next step on Eastman’s journey will be the publication of our first Global Reporting Initiative (GRI) supplement to further detail our performance in accordance with the international sustainability reporting standard.”
 
About Eastman Chemical Company
Eastman’s chemicals, fibers and plastics are used as key ingredients in products that people use every day. Approximately 10,000 Eastman employees around the world blend technical expertise and innovation to deliver practical solutions. The company is committed to finding sustainable business opportunities within the diverse markets and geographies it serves. A global company headquartered in Kingsport, Tenn., USA, Eastman had 2010 sales of $6 billion. For more information, visit www.eastman.com.
 
Contacts:
Media: Maranda Demuth 423-229-6135 / mdemuth@eastman.com