Cabot Corporation Highlights Advancement in Safety, Health and Environmental Performance in Annual S
Cabot Corporation Highlights Advancement in Safety, Health and Environmental Performance in Annual Sustainability Report
Cabot Issues Second Global Reporting Initiative™ Certified Report
BOSTON--(BUSINESS WIRE)-- Cabot Corporation (NYS: CBT) has published its 2012/2013 Sustainability Report that highlights the company's progress and commitment in the areas of safety, environmental performance, sustainability and social investments. The new report, which can be viewed on Cabot's website, outlines the company's efforts to support customers, surrounding communities and Cabot employees all over the world.
"I am proud of the significant progress that we have made toward our sustainability goals," said Cabot President and Chief Executive Officer Patrick Prevost. "Advances in sustainability are intricately linked with the development and growth of our business. Through our strategic business decisions, technology investments and, most importantly, our people, we have been able to elevate our commitment to this important global initiative."
This is the company's second report issued in conformance with the Global Reporting Initiative's™ (GRI) comprehensive Corporate Social Responsibility Reporting Framework. The GRI Reporting Framework is a generally accepted guide that enables greater organizational transparency by establishing principles and indicators that global organizations can use to measure and report their economic, environmental and social performance. GRI Report Services concluded that Cabot's report fulfills the requirements of Application Level B.
Highlights from Cabot's sustainability report, which covers calendar year 2012 and the first six months of 2013, include the following:
Portfolio management: In 2012, Cabot completed the acquisition of Norit, a leading producer of activated carbon. Now referred to as Cabot's Purification Solutions Segment, the acquisition enhanced our participation in environmental and purification solutions markets.
Employee safety: We have worked hard to reduce our recordable incident number. In 2012, we reduced our Total Recordable Incident Rate by 35% compared to 2011.
Environmental performance: Since 2005, Cabot invested $187 million in energy efficiency projects. In addition, our masterbatch manufacturing facilities experienced a 27% reduction in energy intensity since 2005, the greatest overall reduction of all Cabot businesses.
Innovation: In early 2013, Cabot established a new plastics applications development laboratory in Shanghai, China that contains the latest technologies and testing equipment to provide global, best-in-class technical service. With this lab, Cabot can better meet the unique requirements of its Asia-based customers across a range of critical applications.
Training and development: The Developing Leaders program was established to provide our leaders with the knowledge and skills necessary to be effective in their roles. Our goal of training at least 75% of our people leaders was exceeded, with training completed for 84% of our people leaders.
Community outreach: From calendar year 2012 to June 2013, the Cabot Foundation and our local businesses donated or pledged a combined $2.4 million in direct and in-kind support of a wide range of programs aimed to contribute to community success, improve science and technology literacy and support human services programs.
"We want to lead our industry in being a responsible and sustainable company, by continuing to deliver on our targets and by developing innovative products and solutions for a more sustainable tomorrow," said Prevost. "We understand that there is always more work to be done, and we continue to look for opportunities to work in partnership with our stakeholders."
In addition to the Sustainability Report, Cabot will report its 2012 greenhouse gas (GHG) emissions to the Carbon Disclosure Project (CDP) for the fifth consecutive year. The CDP promotes the disclosure of GHG emission data by the world's largest corporations to create the most comprehensive repository of GHG emissions data. The data is then made available to institutional investors, business leaders, policy makers and the general public.
About Cabot Corporation
Cabot Corporation (NYS: CBT) is a global specialty chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, aerogel, and elastomer composites. For more information on Cabot, please visit the company's website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
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Vanessa Craigie, 617-342-6015
Erica McLaughlin, 617-342-6090
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