PR Newswire
STAMFORD, Conn., July 31, 2024
STAMFORD, Conn., July 31, 2024 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX, Financial) ("Tronox" or the "Company"), the world's leading integrated manufacturer of titanium dioxide pigment, today announced the publication of its 2023 sustainability report. The report details meaningful accomplishments achieved in the past year driving continued progress towards the Company's previously established sustainability goals and reinforces the unwavering commitment to the Company's sustainability strategy and purposeful investments in its people, operations and product portfolio. Highlights from the report include:
- Reinforcing its carbon emission reduction targets, including reducing Scope 1 and 2 carbon emissions intensity by 50% by 2030 against a 2019 baseline and achieving carbon neutrality by 2050 and reducing Scope 3 carbon emissions by 9% by 2025 and 16% by 2030 against a 2021 baseline. The Company reduced its 2025 Scope 1 and 2 target to 25% (from 35%) to align with the latest anticipated timing of its second renewable project in South Africa, now expected to come online by 2027.
- Commissioning of a 200MW solar project in South Africa, estimated to provide 40% of the Company's total energy needs in the region and to result in an incremental 13% reduction in Scope 1 and 2 carbon emissions in 2024 relative to the 2019 baseline
- Progressing the second largest renewable project in South Africaby entering into a long-term power purchase agreement with NOA Group for ~497GWh of renewable energy, which is expected to reduce Scope 1 and 2 carbon emissions by an incremental 12% globally, once fully implemented in 2027
- Reducing Scope 1 emissions and improving production efficiencies by implementing automated process controls (APCs) for chlorination to reduce coke consumption at the Company's pigment plants
- Engaging top-emitting suppliers in planning to reduce their greenhouse gas emissions as part of Tronox's Scope 3 emissions reduction strategy
- Progressing towards the Company's 2050 goal of eliminating waste to external landfills by creating new markets for waste byproducts and reusing waste streams as raw materials at the Company's operations
- Committing to alignment with the Taskforce on Nature-Related Financial Disclosures (TNFD) and Science-Based Targets for nature in the next two years to improve management of biodiversity
- Conducting an employee culture survey to understand the performance measures and attributes that yield high performance and identify areas for improvement to guide employee engagement strategy
- Receiving endorsement from Reconciliation Australia for Tronox's inaugural Reflect Reconciliation Action Plan (RAP) – part of the Company's efforts to continue nurturing relationships with Aboriginal and Torres Strait Islander communities near the Company's operations
- Receiving approval on the next five-year iteration of the Company's Social and Labor Plan (SLP) in South Africa, which will include an investment of R67 million (South African Rand) in projects designed to meet critical community needs.
"At Tronox, our approach is to be a good corporate citizen through safe operations, close relationships with our host communities and other stakeholders, advancing environmental stewardship, and maintaining a sustainable business," said Jennifer Guenther, Chief Sustainability Officer, Head of Investor Relations and External Affairs. "I am proud of the progress we continue to make on our sustainability journey, made possible by the teamwork and collaboration across all of our employees at Tronox each and every day."
John D. Romano, Chief Executive Officer, added, "Ultimately, our ability to conduct our work is supported by our people and our planet, and we bear the responsibility to act safely and sustainably. We firmly uphold the importance of safeguarding our operational privilege, both now and in the future. This is why we ensure that sustainability and our business strategy, operations and culture are seamlessly integrated, supporting our priority to grow the business and create lasting value for all stakeholders."
The 2023 sustainability report is available at Sustainability Reports - Tronox.
About Tronox
Tronox Holdings plc is one of the world's leading producers of high-quality titanium products, including titanium dioxide pigment, specialty-grade titanium dioxide products and high-purity titanium chemicals, and zircon. We mine titanium-bearing mineral sands and operate upgrading facilities that produce high-grade titanium feedstock materials, pig iron and other minerals, including the rare earth-bearing mineral, monazite. With approximately 6,500 employees across six continents, our rich diversity, unmatched vertical integration model, and unparalleled operational and technical expertise across the value chain, position Tronox as the preeminent titanium dioxide producer in the world. For more information about how our products add brightness and durability to paints, plastics, paper and other everyday products, visit tronox.com.
Cautionary Statement about Forward-looking Statements
Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future sustainability goals, commitments and programs. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual sustainability results or achievements to differ materially from the results, level of activity, performance, anticipated benefits and timing of projects, or achievements expressed or implied by the forward-looking statements. Significant risks and uncertainties may relate to, but are not limited to, macroeconomic conditions; inflationary pressures and energy costs; currency movements; political instability, and other geopolitical events; supply chain disruptions; market conditions and price volatility for titanium dioxide, zircon and other feedstock materials, as well as global and regional economic downturns, that adversely affect the demand for our end-use products; disruptions in production at our mining and manufacturing facilities; and other financial, economic, competitive, environmental, political, legal and regulatory factors. These and other risk factors are discussed in the Company's filings with the Securities and Exchange Commission.
Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future sustainability results, performance, or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new information or future developments.
Media & Investor Contact: Jennifer Guenther +1.646.960.6598
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SOURCE Tronox Holdings plc
