Latest Report Discusses Company's
Sustainability Performance and Progress, Setting of Additional
Goals, and Efforts to Accelerate the Clean Energy
Transition
LEHIGH
VALLEY, Pa., Aug. 8, 2024
/PRNewswire/ -- Air Products (NYSE: APD) published today its
2024 Sustainability Report – "Generating a Cleaner Future" –
detailing progress against its existing sustainability goals and
announcing new ones; highlighting its clean hydrogen megaprojects
around the world; and showcasing how its industrial gases and
applications expertise enable customers to improve productivity and
reduce environmental impact.
The Company's latest Sustainability Report also provides
stakeholders with economic, environmental and social performance
data, in accordance with Global Reporting Initiative (GRI)
standards "Core" option.
"During this past year, Air Products has strengthened our
previously announced environmental goals and with this report, we
are also launching new goals for renewable energy and water
management. We have worked collaboratively with our customers
across dozens of industries while advancing our world-scale,
first-mover clean hydrogen projects to help decarbonize industry
and heavy-duty transportation," said Seifi
Ghasemi, Air Products' Chairman, President and CEO. "The
progress we have made in these efforts is due to tremendous efforts
by our people, working with our customers and
within in our company to fulfill our higher purpose and
generate a cleaner future for our world."
New and Updated Sustainability Goals
- Air Products updated the baseline year for its "Third by '30"
carbon intensity goals for Scope 1, Scope 2 and Scope 3 greenhouse
gas (GHG) emissions from 2015 to 2023 while keeping the same target
date of 2030, making the goals more ambitious.
- Air Products has committed to quadruple the amount of renewable
energy used to make its products by 2030 compared to a 2023
baseline. This goal exceeds the pledge made by world leaders at the
United Nations Climate Change Conference COP28 to "triple up" renewables by 2030.
- Air Products has committed to develop water management plans by
2026 for high-priority facilities in water-stressed areas with
implementation by 2030.
World-Scale Clean Hydrogen Projects
The Sustainability Report also highlights several of the
Company's world-scale clean hydrogen projects to support the energy
transition, including:
- The world's largest green hydrogen plant: The NEOM Green
Hydrogen Company, a joint venture of ACWA Power, Air Products and
NEOM, is executing a world-scale green hydrogen-based ammonia
production facility powered by renewable energy in the Kingdom of Saudi Arabia. Once onstream, the
facility will supply 600 tonnes per day of carbon-free hydrogen for
industrial and heavy-duty transportation sectors.
- The Louisiana clean energy
complex will produce over 750 million standard cubic feet per day
of low-carbon hydrogen, with a portion supplied to customers along
Air Products' U.S. Gulf Coast hydrogen pipeline network and the
remainder used to produce blue ammonia for global markets. Once
onstream, over five million tonnes of carbon dioxide
(CO2) per year will be captured, compressed, and
transported by pipeline for permanent sequestration.
- The net-zero hydrogen energy complex will make Edmonton, Alberta, Canada the center of
western Canada's hydrogen economy.
This transformative complex will produce 165 million standard cubic
feet per day of low-carbon hydrogen and deploy advanced technology
that enables carbon capture for permanent sequestration. In
addition, to avoid the indirect emissions associated with using
electrical power from the grid, the complex includes a 100 percent
hydrogen-fueled power generation unit.
- Air Products continues to work with key partners to progress
plans for renewable hydrogen facilities in the United Kingdom (UK), the Netherlands, and Germany.
The clean hydrogen from Air Products' megaprojects will help the
world avoid 250 to 500 million metric tonnes of CO2e
over their lifetime, depending on the mix of hydrogen
applications.
Recognitions
The Sustainability Report also cites several important
recognitions received by the Company during the prior year,
including Air Products being named as an Energy Transition
Changemaker at COP28 for its net-zero
hydrogen energy complex in Edmonton,
Alberta, Canada and the NEOM green hydrogen project. Air
Products was awarded an 'A' rating on MSCI's environmental, social
and governance ratings. The 'A' rating by MSCI was based on Air
Products' improvements in its carbon management strategy, including
carbon capture efforts, its announced goal to reach net-zero carbon
emissions from operations by 2050, and other sustainability
initiatives. Air Products was also again included on
Barron's 100 Most Sustainable Companies list and rated
as one of America's Best Employers for Diversity for 2023 by
Forbes magazine.
Visit Air Products' Sustainability website to view the
complete 2024 Sustainability Report.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases
company in operation for over 80 years focused on serving energy,
environmental, and emerging markets. The Company has two growth
pillars driven by sustainability. Air Products' base business
provides essential industrial gases, related equipment and
applications expertise to customers in dozens of industries,
including refining, chemicals, metals, electronics, manufacturing,
and food. The Company also develops, engineers, builds, owns and
operates some of the world's largest clean hydrogen projects
supporting the transition to low- and zero-carbon energy in the
heavy-duty transportation and industrial sectors. Additionally, Air
Products is the world leader in the supply of liquefied natural gas
process technology and equipment, and provides turbomachinery,
membrane systems and cryogenic containers globally.
The Company had fiscal 2023 sales of $12.6 billion from operations in approximately 50
countries and has a current market capitalization of approximately
$60 billion. Approximately 23,000
passionate, talented and committed employees from diverse
backgrounds are driven by Air Products' higher purpose to create
innovative solutions that benefit the environment, enhance
sustainability and reimagine what's possible to address the
challenges facing customers, communities, and the world. For more
information, visit www.airproducts.com or follow us on
LinkedIn, X, Facebook or Instagram.
Cautionary Note Regarding Forward-Looking Statements
This release contains "forward-looking statements" within the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on
management's expectations and assumptions as of the date of this
release and are not guarantees of future performance. While
forward-looking statements are made in good faith and based on
assumptions, expectations and projections that management believes
are reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including the risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2023 and other
factors disclosed in our filings with the Securities and Exchange
Commission. Except as required by law, we disclaim any obligation
or undertaking to update or revise any forward-looking statements
contained herein to reflect any change in the assumptions, beliefs
or expectations or any change in events, conditions or
circumstances upon which any such forward-looking statements are
based.
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SOURCE Air Products