The Dutch paint and specialty chemical company also says that by 2020, its downstream eco-premium products will account for 20 percent of revenue. The environmental initiatives are part of a larger plan, released yesterday, to make the company more profitable.
The company also says it will increase its use of renewable electricity from about 33 percent to almost 45 percent over the next decade, BusinessGreen reports.
In January, AkzoNobel joined the Sustainable Shipping Initiative, a global coalition of companies that pledge to improve the industry’s environmental impacts through a broad range of goals, including reducing greenhouse gas emissions. The group’s 20 members also include Maersk Line, Cargill, DNV, Unilever and Wärtsilä.
Last year, at the Rio+20 Earth Summit, the AkzoNobel joined 44 other international companies in agreeing to set targets on their water efficiency and wastewater management in factories and operations, and calling on governments attending the summit to make global water security a top priority. AkzoNobel’s CEO has also endorsed the Global Compact’s CEO Water Mandate, pledging to work with suppliers to improve water practices, and partner with nongovernmental organizations, UN agencies, governments and public authorities, investors, and other stakeholders on water-related projects and solutions.