NOVA Chemicals Releases 2022 ESG Report and Announces Second Long-Term Virtual Power Purchase Agreement
- Progressed market adoption of recycled polyethylene products through launch of SYNDIGO™ rPE and ASTUTE™ plastomer resins
- Achieved best-ever combined recordable injury rate safety performance
- VPPA for renewable power signed for purchasing 20 MW of solar power from TC Energy’s Saddlebrook Solar + Storage Project
Calgary, AB (August 15, 2023) – NOVA Chemicals Corporation (“NOVA Chemicals”) has released its 2022 ESG Report: Reshaping Plastics, sharing progress on its aspiration to become the leading sustainable polyethylene producer in North America and achieve its NOVA 2030 strategy ambitions of solidifying the market for recycled polyethylene, leading industry decarbonization on the path to net-zero, and becoming a Top 30 company in Canada. This is the company’s first ESG Report which includes an aligned Task Force on Climate-Related (TCFD) disclosure.
“NOVA Chemicals has set out to achieve bold ESG ambitions by 2030, and we are proud of the substantive work we have accomplished to date,” said Jennifer Woolfsmith, NOVA Chemicals’ Vice President of Sustainability. “Plastics continue to play an essential role in our daily lives with many benefits to people around the world, and NOVA believes businesses like ours have a responsibility to reshape those plastics for a more sustainable world and a low-carbon, zero-plastic-waste future.”
NOVA Chemicals’ highlights of its 2022 ESG report include:
- Progressing market adoption of its recycled polyethylene (rPE) products through the launch of its innovative SYNDIGO™ rPE resins and ASTUTE™ plastomer resins, an essential building block that can be used in a variety of all-polyethylene packaging.
- Launching an employee diversity census to allow the organization to gain deeper insights into its diverse workforce and better address their needs.
- Achieving best-ever combined recordable injury rate performance and a combined lost time injury rate of zero – a 100% reduction over five years.
- Reaching best ever safety performance at its second world-class Advanced SCLAIRTECH technology facility, including a recordable injury free run of over 1.3 million exposure hours.
- Receiving a CN Safe Handling Award 2022 for transportation safety practices and being awarded a Chemical Transportation Safety Pinnacle Award 2022 for our zero non-accident releases (NARs) performance.
- Placing in the top 11% of companies assessed by EcoVadis in its industry category and receiving its second Silver medal award.
- Joining the United Nations Global Compact® (UNGC) confirming support of its Ten Principles in the areas of Human Rights, Labour, Environment, and Anti-Corruption and supported by the company’s annual disclosure using its Communication on Progress.
NOVA Chemicals is also announcing today that it has signed a VPPA with TC Energy Corporation (TSX, NYSE: TRP) (“TC Energy”) to purchase 20 MW of solar power and associated emissions offsets produced at its Saddlebrook Solar + Storage Project.
Added Woolfsmith, “this cross-industry collaborative agreement with TC Energy serves as yet another step along NOVA Chemicals’ roadmap to 2030, demonstrating our commitment to working with trusted partners in achieving our environmental and sustainability aspirations.”
“This partnership demonstrates our shared interest to deliver transformative and sustainable power solutions for customers that meet the ongoing energy demand,” said Corey Hessen, Executive Vice President and President, Power and Energy Solutions at TC Energy. “As energy problem solvers, TC Energy is proud to provide emissions-free renewable power for NOVA Chemicals’ facilities and its customers.”
This announcement builds on the momentum of NOVA Chemicals’ strong 2022 ESG performance and 2023 progress towards its 2030 aspirations, including signing its first long-term Virtual Power Purchase Agreement (VPPA) with Shell Energy, collaborating with Pregis to deliver sustainable food packaging with SYNDIGO rPE, launching a feasibility study with Plastic Energy for an advanced recycling plant in Ontario, Canada, and announcing its first mechanical recycling facility to be operated by Novolex.
About NOVA Chemicals Corporation
NOVA Chemicals aspires to be the leading sustainable polyethylene producer in North America. Our driving purpose is to reshape plastics for a better, more sustainable world by delivering innovative solutions that help make everyday life healthier and safer and acting as a catalyst for a low carbon, zero-plastic-waste future. NOVA Chemicals’ innovative and quality product offerings, value chain collaboration, and unique customer experience is what sets us apart; our customers use our products to create easy-to-recycle and recycled content films, packaging, and products. Our employees work to ensure health, safety, security, and environmental stewardship through our commitment to Sustainability and Responsible Care®.
NOVA Chemicals, headquartered in Calgary, Alberta, Canada, has nearly 2,500 employees worldwide and is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.
Learn more at www.novachem.com or follow us on LinkedIn.
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