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Albemarle's 2024 Sustainability Report: A Commitment to the Future

Albemarle Corporation, a notable player in the fields of mobility, energy, connectivity, and health, has recently unveiled its 2024 Sustainability Report, themed "Values-Led, Purpose-Driven." The report serves as an update on the company’s progress towards its ambitious sustainability objectives, reflecting its dedication to environmental stewardship and social responsibility.

Empowering a Sustainable Future

In his statement, Kent Masters, the Chairman and CEO of Albemarle, underscored the company’s philosophy: "As a values-led organization, sustainability is foundational to how we choose to operate." The report details several strategic initiatives aimed at minimizing the company's environmental impact and encouraging community engagement.

Highlights of the 2024 Sustainability Report

Carbon Footprint Reduction Efforts

One of the central themes of the report is Albemarle's commitment to reducing its carbon footprint. Several initiatives underline this goal:

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Efficiency enhancements and increased use of renewable, carbon-free electricity have kept Albemarle on course to grow its Energy Storage business with neutral carbon intensity.

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Notably, 24% of the total electricity consumed by the company came from renewable sources, a significant leap from 16% in the previous year.

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The company has initiated a decarbonization roadmap that identifies operational hotspots while establishing strategies such as electrification, process modifications, fuel substitutions, and enhanced efficiencies.

Responsible Freshwater Management

Albemarle has made significant strides in managing freshwater sustainably:

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The operations in Chile and Jordan are poised to meet their freshwater intensity targets set for 2030.

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In Chile, the La Negra facility saw a striking 28% reduction in freshwater intensity due to improved operational efficiencies.

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For the Jordan Bromine Company joint venture, mechanical upgrades have been completed, aligning operations with 2030 freshwater goals.

Supporting Customer Sustainability Goals

Albemarle's commitment extends to supporting its customers' sustainable initiatives. The company has broadened the scope of its Product Carbon Footprints to incorporate more bromine and lithium products sourced from the U.S., Jordan, and China, thereby enhancing transparency and supporting client objectives.

Community Engagement and Human Rights

A highlight of the report is a comprehensive human rights assessment conducted at Albemarle’s Salar de Atacama site in Chile. This assessment confirms the company's commitment to global best practices in protecting the rights of employees, suppliers, and associated communities.

Industry Standards and Continued Commitment

The 2024 Sustainability Report has been developed in adherence to the guidelines set by the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), and recommendations from the Task Force on Climate-Related Financial Disclosures (TCFD).

About Albemarle Corporation

Albemarle Corporation (NYSE: ALB) is a global leader in providing essential elements that empower mobility and energy solutions while fostering connectivity and health. Their reliable supply chains of lithium and bromine materials enable them to offer innovative solutions that resonate with the vision of a sustainable future. To explore more about Albemarle's efforts, visit their website or their social media channels.

Conclusion

In a world that increasingly necessitates sustainable practices, Albemarle's 2024 Sustainability Report serves as both a benchmark and a roadmap towards a more resilient and responsible future. The company’s ongoing commitment to sustainability positions it as a conscientious leader in its industry, making significant headway toward achieving a balance between business growth and environmental stewardship.