Worldwide Olympic Partner Dow Announces 5m Tonnes CO2e Greenhouse Gas Emission Reductions Verified From Its Carbon Programs

Worldwide Olympic Partner Dow Announces 5m Tonnes CO2e Greenhouse Gas Emission Reductions Verified From Its Carbon Programs

Initiatives with the organizing committees of Sochi 2014 and Rio 2016 and the IOC enabled carbon reductions in areas such as infrastructure, reforestation, manufacturing and packaging projects
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Following their annual third-party verification, @DowNewsroom announced the reduction of 655,000 tonnes carbon dioxide equivalent of greenhouse gas emissions achieved in 2019 through their carbon program w/ the International Olympic Committee. http://bit.ly/38sd3m4 @iocmedia
Wednesday, February 19, 2020 - 9:40am

CONTENT: Press Release

MIDLAND, Mich., February 19, 2020 /3BL Media/ – Following the completion of annual third-party verification, Dow (NYSE: DOW) announced the reduction of 655,000 tonnes carbon dioxide equivalent (CO2e) of greenhouse gas (GHG) emissions, the equivalent emissions of 139,026 vehicles driven for one year , achieved in 2019 through the Company’s carbon program with the International Olympic Committee (IOC). To date, the cumulative GHG reductions from Dow’s three carbon programs, which include Sochi 2014, Rio 2016 and the IOC programs, have reached more than 5 million tonnes of CO2e. This compares to an amount of CO2 sequestered by 6.5 million acres of U.S. forests in one year . By 2026 – the end of the monitoring period agreed to by the IOC – the carbon benefits are expected to reach more than 7 million tonnes of CO2e.

“With the concentration of greenhouse gases in the atmosphere rising to alarming levels, we need a wider adoption of locally relevant solutions to accelerate the reduction of GHG emissions globally and transition to a more sustainable society,” said Nicoletta Piccolrovazzi, global technology & sustainability director, Dow Olympic & Sports Solutions. “Our 2019 program results speak to Dow’s commitment to delivering solutions that help reduce carbon emissions. The Carbon Partnership with the IOC has allowed us to provide customers and value chain partners with the opportunity to advance their sustainability knowledge, make their operations more efficient and to showcase leading technologies.”

As a part of the carbon partnership program with the IOC, Dow announced several new projects in 2019 with collaborators, including PETRONAS Chemicals Group, the U.S. Green Building Council, the AIA International Region, Firestone Building Products and Restore the Earth Foundation. These greenhouse gas reduction projects are part of Dow’s Sustainable Future Program, which harnesses the power of sport and science to accelerate the adoption of more sustainable technologies across value chains and upgrade business-as-usual practices locally. The project portfolio has been developed to address a wide range of applications, such as high performance buildings and infrastructure, reforestation, improvements in packaging and industrial efficiency.

“In line with our strong commitment to sustainability, the IOC measures its annual carbon footprint and implements various measures to reduce them. Thanks to our Official Carbon Partnership with Dow we have also been able to offset our unavoidable emissions for the period between 2017 and 2020,” said Marie Sallois, IOC director of corporate & sustainable development. “The results that Dow continues to deliver are now exceeding our operational emissions, creating a tangible, positive legacy.”

Dow selected Environmental Resources Management (ERM) to provide third-party verification of projects against the Dow Climate Solutions Framework and to verify the GHG emissions reductions resulting from the projects and assigned to specific footprint owners.

"Our extensive process, which combines validation of project documentation with verifying actual implementation evidence, determined that the project portfolio generated more than 5 million tonnes of climate benefits in CO2e, with 2.8, 1.4 and 0.8 million tonnes respectively from Dow's separate programs with Sochi 2014, Rio 2016 and the IOC," explained Braulio Pikman, technical director at ERM.

With a joint vision of accelerating climate action across the Olympic Movement, Dow and the IOC also announced in 2019 a new program to encourage and incentivize International Sports Federations (IFs) and National Olympic Committees (NOCs) to measure, reduce and mitigate the carbon emissions related to their operations and events. As part of the program, carbon offsets are offered to IFs and NOCs that have joined the United Nations Framework Convention on Climate Change’s Sports for Climate Action Framework and implemented tangible action to reduce GHG emissions within their respective operations and events. Ten IFs benefitted from the program in 2019. In 2020, the initiative will be expanded to include submissions from NOCs in addition to IFs.

For more information about Dow’s more than 35 years of support of the Olympic Movement and commitment to sustainability through sports, visit https://www.dow.com/en-us/sports/partnerships/olympics.

About Dow

Dow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company’s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow’s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit www.dow.com or follow @DowNewsroom on Twitter.

For further information, please contact:

Linda Lim
+65.9626.7662
llim2@dow.com

Ashley Eisner
+1 212.697.2600
aeisner@gscommunications.com

CATEGORY: Environment