Hexion Improves EcoVadis Index Score

July 12, 2022 07:00 AM Eastern Daylight Time

COLUMBUS, Ohio--(BUSINESS WIRE)--Hexion Inc. announced today that EcoVadis, a global sustainability ratings provider, awarded Hexion Bronze-medal status for its sustainability commitment and results. For the third consecutive year, Hexion significantly increased its percentile ranking within EcoVadis, and the Company's 2022 rating is higher than or equal to the score of 60 percent of all rated companies.

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EcoVadis is a trusted provider of business sustainability ratings, intelligence, and collaborative performance improvement tools for global supply chains. Backed by a powerful technology platform and a global team of domain experts, EcoVadis' sustainability scorecards provide detailed insight into environmental, social, and ethical risks across 200 purchasing categories and 160 countries.

Each year EcoVadis performs a relative review of eligible companies across four key areas -- environment, labor and human rights, ethics, and sustainable procurement. The 2022 EcoVadis assessment for Hexion highlights advanced performance with higher scores in its overall rating and Labor and Human Rights subcategory.

"Our EcoVadis rating reflects the ongoing commitment we've made to our associates, the communities in which we operate and our customers to operate our business responsibly," said Craig Rogerson, Chairman, President and Chief Executive Officer. "Especially gratifying were several strengths recognized in the rating, including: our environmental policy on energy consumption & greenhouse gas emissions; improvement of energy efficiency through technology or equipment upgrades; and our labor & human rights policy on diversity, equity & inclusion."

"We are pleased to drive four- and nine-point increases, respectively, in our 2022 EcoVadis absolute score compared to our two previous annual rankings," said Stephanie Couhig, Senior Vice President Environmental Health & Safety and Chief Sustainability Officer, Hexion. "In 2022, we also improved or held stable our EcoVadis rating in all four categories compared to the previous year. Going forward, we remain committed to continuous improvement in all facets of our sustainability initiatives."

Hexion recently released its 2021 Sustainability Report featuring the Company's ongoing progress and accomplishments in enhancing safety, sustainability and social responsibility. It can be viewed at https://www.hexion.com/en-us/company/responsibility/sustainability. Select highlights include:

Safety and Operational Excellence

• When compared to other chemical companies that share safety performance data with the American Chemistry Council (ACC), Hexion drove recordable injury rates to well below the average for companies of its size. While the Company always strives for zero incidents, 2021 saw Hexion record the lowest Occupational Injury and Illness Rate (OIIR) in its history.
• Hexion's total 'Environmental Events' includes any reportable releases and/or wastewater or air exceedances and was also the lowest in the Company's history.
• The Company received its first ENERGY STAR Partner of the Year award, bestowed by the United States Environmental Protection Agency's ENERGY STAR Program, for the Company's many successes in waste reduction and energy efficiency.
• The Company announced its commitment to reduce greenhouse gas emissions by 20 percent by 2030.

Market Innovation

• The Company accelerated production of ArmorBuilt™, a fire-resistant material for wooden utility poles and other applications, through two expansions of its Portland manufacturing site. As previously announced, Hexion remains committed to having all new products incorporate sustainable attributes by 2030.

Social Responsibility

• For the second consecutive year, Hexion is supporting the Future of STEM Scholars Initiative (FOSSI), the chemical industry's collaborative equity, diversity, and inclusion initiative aimed at creating pathways for underrepresented groups to enter and succeed in science, technology, engineering, and math (STEM) careers in the chemical industry. FOSSI is a partnership between the American Chemistry Council, the American Institute of Chemical Engineers, Chemours and the HBCU Week Foundation. Interested scholars can find more information at https://futureofstemscholars.org/fossi.

About the Company

Based in Columbus, Ohio, Hexion Inc. is a global leader in thermoset resins. Hexion Inc. serves the global adhesive, coatings, and industrial markets through a broad range of thermoset technologies, performance materials and technical support for customers in a diverse range of applications and industries. Additional information about Hexion Inc., its products and sustainability is available at www.hexion.com.