)--Westlake Chemical Corporation (NYSE: WLK) today released its 2020 Environmental, Sustainability and Governance (ESG) report, Essential Products, Critical Innovations
, the fourth annual report demonstrating the company’s commitment to continuous improvements in its operations, products, management and communities.
The report highlights include reductions in emissions; zero loss of plastic powder, pellet or flake from operations; an improved safety record; a diversity action plan; and increased charitable contributions in our communities amid the pandemic and extreme weather events.
The report demonstrates the resilience and resolve of Westlake to responsibly operate and safeguard its employees regardless of challenges, including COVID-19 and hurricanes, while working with customers to provide more sustainable products such as GreenVin™, a caustic soda produced with renewable energy and Aspire Vinyl®, the first phthalate-free, bio-based compounds with more than 35% renewable content.
Westlake’s 2020 ESG report includes the Company’s first materiality analysis, which identified 14 key areas of focus – including health and safety, climate change and energy, waste and circular economy, community engagement and impact management, diversity and inclusion, and cyber security -- as the company continues to align with the important global frameworks for ESG disclosures and communications. These focus areas are critical to all of the Company’s key stakeholders, including investors, suppliers, customers, neighbors and employees.
“As a family-founded company, our business decisions have always been guided by prioritizing safety, ethics, quality and the environment,” said Albert Chao, president and chief executive officer of Westlake. “Our sustainability reporting, which we began four years ago, illustrates our accomplishments and aspirations regarding these long-standing commitments. We are taking concrete steps in our ESG journey to deliver excellence today and create a better future.”
The 2020 report includes information on EcoVadis findings and ratings as well as material ESG topics identified by the Sustainability Accounting Standards Board (SASB). A supplement Global Reporting Initiative (GRI) index will be available in the fourth quarter on