Braskem America Announces Renewable and Emissions-Free Power Purchases in Alignment with Commitment to a Carbon-Neutral Circular Economy
Philadelphia, Pa. - November 9, 2022 - Braskem (B3: BRKM3, BRKM5, and BRKM6; NYSE: BAK; LATIBEX: XBRK) the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced significant progress towards securing renewable and emissions-free power for its North American production facilities. The Company's current energy sourcing roadmap calls for more than a 15% reduction in carbon dioxide-equivalent emissions by 2030 with a path to carbon neutrality by 2050.
Mark Nikolich, CEO of Braskem America, stated "Braskem has a clear commitment to helping create a Carbon-Neutral Circular Economy and everything is transformed. Our initial North American renewable, as well as emissions-free power purchase agreements, are aligned with Braskem's macro goals of reducing CO2 scope 1 and 2 greenhouse gas emissions and expanding the circular economy concept in the plastic chain with the end goal of becoming a carbon-neutral company by 2050. Looking ahead, we will further scale our North American renewable and emissions-free power purchases and we look forward to reporting on our progress along the way to creating a more sustainable future for everyone."
Today's announcement reflects Braskem America's success in signing a renewable power purchase agreement (PPA) for Neal, West Virginia, securing emissions-free power contracts for Marcus Hook, Pennsylvania through 2027, and purchasing Renewable Energy Certificates (RECs) in the USGC resulting in an annualized reduction of CO2 scope 1 and 2 greenhouse gas emissions. These initial agreements source energy from wind, solar, and nuclear as the first phase in Braskem America's carbon reduction goals. Braskem publishes its GHG Emissions Inventory every year, with the GHG Protocol guidelines.
Richard Huh, Renewable Energy & Decarbonization Manager, Braskem America, "Braskem has a long-standing commitment to sustainability and carbon reduction initiatives, and our renewable and emissions-free power purchases reflect another major advance in our carbon neutrality framework in North America all helping advance our long-term carbon neutrality objective. These important reductions in CO2 emissions would not be possible without the close coordination of our energy production, regulatory and governmental partners in each of our key operating regions and we are grateful for their support."
To learn more visit https://www.braskem.com/usa/combatingclimatechange .
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