Hexion Inc. has recently received an improved environmental, social, and governance (ESG) Assessment score of 51 out of 100 from Moody’s ESG Solutions, an ESG data and assessments provider. This ranks Hexion among the top three companies in the North American chemical sector, up one place from Moody’s ESG Solutions’ prior ESG Assessment.
Based in Columbus, Ohio, Hexion is a global provider of thermoset resins, serving the adhesives, coatings, and industrial markets through a broad range of thermoset technologies, specialty products, and technical support.
Moody’s ESG Solutions’ ESG Assessments measure the extent to which a company is managing ESG-related risks and opportunities and equips leaders with data and insights needed to make more sustainable decisions.
“This recognition underscores our commitment to furthering social responsibility and sustainability as an essential part of how we do business,” said Craig Rogerson, Chairman, president and CEO of Hexion. “We are delighted to be ranked so highly for the second consecutive year and remain committed to continued improvement in our overall sustainability efforts.”
Hexion’s updated ESG Assessment is among the company’s most recent sustainability and corporate responsibility achievements. For example, in 2021, the company committed to reducing absolute carbon emissions by 20% by 2030. This commitment encompassed “Scope 1” and “Scope 2” emissions, which are direct and indirect greenhouse emissions from operations and consumed energy. Hexion is also reviewing its “Scope 3” emissions, which are those associated with all other aspects of it business.
Last year, the company received its first ENERGY STAR Partner of the Year award, one of the highest honors bestowed by the U.S. Environmental Protection Agency’s ENERGY STAR program, in recognition of its waste reduction and energy efficiency initiatives.
In addition, Hexion has joined the United Nations (UN) Global Compact, the world’s largest voluntary corporate sustainability initiative in 2021.