Most companies in the chemical industry seem to have been flying under the radar of most investors and divestment campaigns, at least in regard to toxic chemicals. Let’s see for how much longer.
The ChemScore ranking, which scores the world’s top chemical producers on their work to reduce their hazardous chemical footprint, will have a new iteration in 2021. And starting right now, access to the existing 2020 version is free of charge.
Video of ChemSec webinar, October 6 2020
In ChemSec’s latest project – ChemScore – we analysed and ranked the world’s 35 biggest chemical companies based on their efforts to reduce their chemical footprint. One of the main things we looked at was how many hazardous chemicals they produce. Special attention was given to a specific chemical property that is extra problematic for investors – persistence – since liability cases connected to these substances may surface a long time from now.
Today, investors can find out which companies produce hazardous chemicals, but not how big their productions are. One company can produce hundreds of hazardous chemicals in very small amounts, while another can produce only one or two but have a huge production – and investors wouldn’t know. It goes without saying that the amount of harmful substances that a company produces plays a huge role. Are we talking about one ton or one million tons?
European chemical companies top the new sustainability ranking ChemScore, followed by a mix of US and Asian companies. The main goal of ChemScore – created by the NGO ChemSec – is to drive investors towards chemical industry frontrunners.
Many of the world’s foremost chemical researchers are convinced that the presence of hazardous chemicals in the world is a global threat comparable to climate change. So, who are the companies that are producing these substances? In ChemSec’s latest endeavour – ChemScore – we dive deep into the world’s 35 largest chemical companies to see what kind of chemicals they produce. The results paint a very interesting picture of an industry in change.
Today, ChemSec releases its new sustainability ranking for investors – ChemScore. For a while now, ChemSec has dug deep into the world’s 35 largest chemical companies, scrutinizing their hazardous product portfolios and looking into their efforts to move towards safer chemicals. But ChemScore not only captures and ranks the companies’ performance, it also serves to boost investments in safer and greener alternatives.
A couple of weeks ago, chemical producing giant Dupont announced via a press release its new sustainability goals, including an ambition to design all of its products in line with the green chemistry principles. In this situation, where the current business model has reached the end of the road, there aren’t many options left for Dupont but to announce a major turnaround.
Even though the oil industry is far from finished I doubt many people would call it a sector with a bright outlook.
Can we expect such a change of perception in the chemical sector? I’d say that the answer to that is yes. It’s already happening.