CovationBio is releasing its first sustainability report, reinforcing its commitment to contribute to sustainability advancements in four key areas aligned with the United Nations Sustainable Development Goals (SDGs).
| NEWARK, Del., May 11, 2023 /PRNewswire/ -- Less than one year after establishing itself as an independent company, CovationBio™—a leading biomaterials company known for Sorona® polymer, Susterra® propanediol, and Zemea® propanediol—is releasing its first sustainability report, reinforcing its commitment to contribute to sustainability advancements in four key areas aligned with the United Nations Sustainable Development Goals (SDGs). Areas of focus are Decent Work and Economic Growth (SDG 8), Responsible Production and Consumption (SDG 12), Climate Action (SDG 13), and Commitment to Life on Land (SDG 15).
Based on a review of the company’s baseline performance in the four priority areas, the 2022 report offers a high-level assessment of CovationBio’s performance on safety, climate, circularity, and life on land, while laying the groundwork for actions that further support the company’s values and mission to make high-performance biobased materials accessible to all. “Proactively releasing a sustainability report within the first seven months of establishing our new company is a huge milestone,” said CovationBio CEO Dr. Michael Saltzberg. “For more than 20 years and prior to the launch of CovationBio, we dedicated ourselves to the mission to become a world leader in providing sustainable and high-performance biomaterials solutions. Sustainability is at the core of everything we do. This report carefully and transparently explains our sustainability commitments and our company’s and products’ progress towards those commitments.” CovationBio is dedicated to making meaningful, measurable change. The report details the company’s status and progress in its first seven months and identifies opportunities for it to strengthen its sustainability efforts. A high level overview of the report follows: Decent Work and Economic Growth (SDG 8) Responsible Production and Consumption (SDG 12) As of the end of 2022, all CovationBio sites sourced their electricity from the grid, and the local mixes include between 6.5% and 13.7% renewables. Manufacturing locations rely on traditional fossil resources for process energy requirements. Planning is underway to move towards a higher fraction of renewable electricity. Climate Action (SDG 13) From self-assessments, CovationBio reported a total of 94 thousand metric tons of greenhouse gas emissions annually from their production facilities and purchased electricity. The company has already implemented work-streams investigating low to zero GHG options for electricity and steam at the site to significantly reduce site GHG emissions. CovationBio is also committed to working with organizations such as the Renewable Carbon Initiative (RCI) to support defossilizaton of the materials industry. Commitment to Life on Land (SDG 15) “We want to continue to improve our own sustainability position and that of the entire materials industry as we grow our business. This led us to thoughtfully integrate our sustainability program with our business strategy,” said CovationBio Sustainability Leader Lauren Johnson. “Although CovationBio is a new name in the world, our team—our people, our products—has been in the business of more sustainable materials for almost 20 years. Our products are designed to be biobased, sustainable, and scalable. This means we at CovationBio are not new to biomaterials, we are reinvigorated.” For more information about the CovationBio commitment to sustainability, and to view the full 2022 CovationBio sustainability report, visit CovationBio.com/sustainability. About CovationBio The CovationBio design marks, and all trademarks and service marks denoted with ™, SM or ® are owned or used under license by Covation Biomaterials LLC or its affiliates, unless otherwise noted. Covation Biomaterials trademarks may not be used in connection with any product or service that is not a Covation Biomaterials product or service. Visit CovationBio.com and follow brand announcements on Instagram, Facebook, and LinkedIn. For further information contact: Heather Barbod
SOURCE CovationBio |
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