"Putting the environment first doesn't thwart business opportunities, it creates them." That's DuPont's Charles O. Holliday Jr., chairman and CEO, discussing his commitment to sustainability, what he labels as global industry's biggest challenge . . . and opportunity. In October, he launched his latest broadening of the company's sustainability commitments, and DuPont is now expanding business offerings that will address biotechnology, safety, environment, energy and climate challenges in the global marketplace. The company expects to derive additional revenues of $6 billion or more by 2015 from the targeted effort.
Remember DuPont, the chemistry- and materials-oriented company? Last year Holliday helped complete its transition into DuPont, a 21st century science company focused on sustainable growth. Holliday defines the mission as "increasing shareholder and societal value while decreasing our environmental footprint along the value chain. While chemistry remains vital to our businesses, the addition of biology has opened tremendous new opportunities. We have turned our world-leading research capability to inventing what our customers tell us they need to grow their businesses."
Holliday says the challenge encompasses more than DuPont and its customers. He says today's global imperative for sustainability and economic growth is challenging industry, governments, non-government organizations, academia and the science community to work together in unique and creative ways.
Holliday recognizes that solutions addressing the issues of energy, climate, water and safety will largely result from partnerships that deliver new approaches and science-based innovations. "We also know that focusing solely on our own environmental footprint does not go far enough. Our actions must be both market-driven and consistent with societal values and expectations." (See "
Global Climate Change -- DuPont's Recommendations.")
In Holliday's sustainability crusade, the major challenge is not in creating a commitment to the environment, but in his strategy of synergistically maximizing the necessary economic and technological innovation to best serve all corporate constituents. For example, DuPont's environmental consciousness is decades old. Nearly 20 years have passed since it first published its environmental goals and made the commitment publicly available. Now as part of a corporate sustainability commitment, environmental benefits will accelerate. In 2003, the U.S. Environmental Protection Agency presented DuPont with its annual Presidential Green Chemistry Award for the company's research leading to the development of its first bio-based product, Bio-PDO, which is the corn-based raw material in its Sorona polymer. Applications include carpeting and apparel.
Environmental progress has continued to be central to how DuPont regards its global responsibilities.
Consider greenhouse gas emissions. Holliday believes that science is sufficient to compel prudent action to address global climate changes. "That is why we began taking action more than 10 years ago and have reduced our global greenhouse gas emissions by 72% versus 1990 levels." (During that time production volume increased 33%.) By 2015 Holliday says DuPont will further reduce greenhouse gases at least 15% from the base year of 2004.
DuPont is formally broadening its sustainability commitments beyond internal footprint reduction to include market-driven targets for revenue and research and development investment. DuPont has also reset its footprint goals, which largely have been achieved ahead of its 2010 deadline.
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