2023 Sustainability Report Highlights
June 2024
Forward-Looking Statements
This presentation contains statements relating to Albemarle's operations, growth strategies and sustainability plans that are based on our current expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and uncertainties, often contain words such as "anticipate," "believe," "estimate," "expect," "design," "target," "project," "commit," "aim," "intend," "may," "outlook," "scenario," "should," "would," and "will". Forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Albemarle undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Standards of measurement and performance made in reference to our environmental, social, governance and other sustainability plans and goals may be based on protocols, processes and assumptions that continue to evolve and are subject to change in the future, including due to the impact of future regulations.
Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include: changes in economic and business conditions; financial and operating performance of customers; timing and magnitude of customer orders; fluctuations in lithium market prices; production volume shortfalls; increased competition; changes in product demand; availability and cost of raw materials and energy; technological change and development; fluctuations in foreign currencies; changes in laws and government regulation; regulatory actions, proceedings, claims or litigation; cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; political unrest; changes in inflation or interest rates; volatility in the debt and equity markets; acquisition and divestiture transactions; timing and success of projects; performance of Albemarle's partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC,
including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q, which are filed with the SEC and available on the investor section of Albemarle's website (investors.albemarle.com) and on the SEC's website at www.sec.gov.
All the Elements for a Better World
As a purpose-driven and values-led organization, sustainability is core to who we are and how we operate, and this report is a demonstration of our ongoing commitment to creating a more
resilient world."
Kent Masters
Chairman and CEO
New double materiality assessment
Updates on DEI strategy and progress
Continued progress on environmental goals
Expanding our LCAs
Looking ahead: decarbonization roadmap
Our Values
Albemarle's six core
values help us achieve our corporate purpose to enable a more resilient world.
Care | Curiosity | Collaboration | ||
We improve the safety | We continuously | We work together, | ||
and support the well- | learn and are | value each other and | ||
being and resilience of | comfortable taking | encourage diverse | ||
our communities, | informed risks to | thought to drive better | ||
employees and | innovate. | outcomes. | ||
environment. | ||||
Humility | Accountability | Integrity | ||
We share the credit | We act with courage to | We do what we say | ||
and value the ideas | take ownership for | with honesty and | ||
of others to achieve | what matters and | transparency for the | ||
goals together. | responsibly deliver | benefit of all. | ||
results. | ||||
A Leading Provider of Lithium, Bromine and Other Essential Elements
MOBILITY
Advancing the future of movement by being a leading provider of materials that make mobility better and cleaner.
ENERGY | CONNECTIVITY | HEALTH | ||
Powering the energy | Enabling an always-on | Improving quality of life by | ||
world to make technology | making health safer and | |||
transition to meet the rising | ||||
more consistent and | more attainable today, so | |||
needs so we can ensure the | ||||
reliable, so we can | the planet and future | |||
world has critical resources | ||||
continue to innovate more | generations can continue to | |||
for years to come. | ||||
efficiently. | thrive. | |||
Resilient Competitive Strengths to Navigate Market Conditions
World-Class Resources
Leading Process Chemistry
High-Impact Innovation
Customer-Centricity
People & Planet Steward
- Diversified portfolio of best-in-class assets and resources around the globe
- Low-costposition with vertical integration into large, high-grade resources
- Deep technical and operational know-how to transform essential resources
- Process know-how to build and operate large scale conversion assets safely
- Advanced solutions tailored to customer and market needs
- New products, e.g. MercLok and lithium sulfide
- Reliable and trusted partner with global expertise and local experience
- Partnerships to facilitate innovation and mutual growth
- Responsible corporate citizen focused on sustainability, community engagement, and industry-leading best practices
Albemarle's Strategic Framework
Albemarle leads the world in transforming essential resources into the critical ingredients for modern living with people and planet in mind.
Defining Our Performance Ambition
Lead with Impact | Purpose-Driven Growth | Partner of Choice | Stakeholder Value |
Providing Essential Elements to Critical Impact Areas
Mobility | Energy | Connectivity | Health |
Resilient Competitive Strengths to Navigate Market Conditions
World-Class | Leading Process | High-Impact | Customer- | People & Planet |
Resources | Chemistry | Innovation | Centricity | Steward |
Operational Discipline - Central to Our Operating Model
Productivity - as of Q1, benefits on-track to exceed 2024 target of $280 million; initiatives include:
▪ Manufacturing ($80M target) - Yield, rate, and availability improvements at La Negra, Qinzhou, and Xinyu
▪ Procurement ($150M target) - Capture of lower cost for key raw materials and logistics, specifically ocean and road freight
▪ Back-Office ($50M target) - Restructuring cost savings, reduced third party spend
Cash Management
▪ Working Capital - inventory management, compressing supply chain from mine to customer, maximizing cash from accounts payable
Sustainable Approach
▪ 2023 Sustainability Report - published in Q2 2024
Double Materiality Assessment
New and updated topics identified through this assessment include:
How sustainability issues impact our business and how our business impacts the world around us
In 2023, we undertook a double materiality1 assessment, at the consolidated level, to identify the sustainability issues that matter most to our business and stakeholders.
1. For purposes of our sustainability reporting, the concept of "material" topics identified through "materiality assessments" generally refers to ESG reporting guidance such as GRI and SASB and does not correspond to the concept of materiality used in the securities laws and disclosures required by the US Securities and Exchange Commission (SEC). With respect to the term "material," individual companies are best suited to determine which information is material under the long-standing U.S. Supreme Court definition of that term, and whether to disclose this information in SEC filings.
Environmental
Social
Governance
Energy, Greenhouse Gas (GHG) Emissions and Climate
Responsible Water Management
Pollution Management
Waste and Circularity
Health and Safety
Human Rights and Labor Practice
Local Community Engagement
Talent and Culture
Ethics and Compliance
Innovation
Responsible Sourcing
Our Focus on Sustainability
Has Earned Recognition
- In 2023, Albemarle received 10 ACC Responsible Care® Awards for health, safety and environmental areas of focus.
- 4th consecutive inclusion in the Bloomberg Gender-Equality Index.
▪ MercLok P-640, Albemarle's mercury remediation solution, was named an R&D 100 winner by the Business Intelligence Group. This award recognizes leading edge products and technologies that can contribute to a better world.
-
In February 2024, Albemarle was named to the 2024 list of America's Most
JUST Companies (JUST 100) by JUST Capital and CNBC. The JUST 100
rankings measure how the nation's largest corporations are performing on
business issues that matter most to Americans, including protecting customer73/100 privacy, minimizing pollution, supporting employee training and more.
- Albemarle's Environmental Management Information System (EMIS) was awarded the Verdantix 2023 EHS Innovation Excellence Award in the compliance digitization category.
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Albemarle Corporation published this content on 18 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2024 19:45:07 UTC.