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Stepan ranked 45 among WSJ most sustainably managed companies in the world

November 18/2020

MOSCOW (MRC) -- Stepan Company is ranked 45 in The Wall Street Journals most sustainably managed companies in the world - third among chemical manufacturers in the rankings, reported GV.

The assessment includes more than 5,500 publicly traded businesses that were evaluated on an array of sustainability criteria including business model and innovation, external social and product issues, employee and workplace issues, and the environment. The ranking methodology also considered Stepans leadership and governance practices, and how those create long-term shareholder value.

The Wall Street Journal ranking is truly a recognition of the hard work, integrity and leadership of Stepans management and employees, said Jason Keiper, Ph.D., Stepans Chief Technology and Sustainability Officer. We are proud to provide essential and sustainable products that support our customers and society, including those for cleaning and disinfection, energy-saving insulation, and agriculture and safe food supply. Stepan Company is strengthening its commitment to sustainability and creating long-term stakeholder value, and we are excited to develop new products and partnerships that will reflect the positive impact of what we do and how we do it.

Stepan said it strives to provide greater transparency and communication of sustainability efforts while continuing to form strategic partnerships. The company said it also works to meet sustainability targets based on material issues identified for the chemical manufacturing industry by the Sustainability Accounting Standards Board (SASB). Stepan said its focus on four sustainability priorities Investing in People, Efficiency for the Planet, Advantageous Products, and Responsible Practices guides its efforts to deliver products that support customers' needs and align with global goals for a more sustainable planet.

As MRC informed before, Stepan conducted planned maintenance at its 90,000 tonnes/year phthalic anhydride (PA) plant Millsdale, Illinois, US, from early October to end-October, 2020.

Phthalic anhydride is widely used in for the production of paints and varnishes and plasticizers for PVC products. In a small amount it is used in the manufacture of rubber products, tires. In addition, it is used in the light, pharmaceutical and electrical industries.

According to MRC's ScanPlast report, Russia's overall PVC production totalled 718,500 tonnes in January-September 2020, down by 0.3% year on year. At the same time, only two producers managed to increase their PVC output.
Author:Margaret Volkova
Tags:PVC, ftaleviy angidrid, SPVC, petrochemistry, Stepan Company, Russia, USA.
Category:General News
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