Difference between revisions of "Dow Chemical"
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| data6 = 108 Megatons of CO2 (2020) (Dow Inc.) | | data6 = 108 Megatons of CO2 (2020) (Dow Inc.) | ||
| title = | | title = | ||
| label7= NCI assessment | |||
| data7 = Low | |||
| title = | | title = | ||
| | | label8= Total Revenue | ||
| | | data8 = 54.9 billion USD (2020) | ||
| | | label9= Stock Exchange | ||
| | | data9 = New York | ||
| | | label10= Key People | ||
| | | data10 = Anton van Beek(President-director Benelux) Jim Fitterling(CEO & Chairman Dow Inc.) | ||
| | | label11= Number of Employees | ||
| | | data11 = 4,000 (Benelux) | ||
| title = | | title = | ||
| | | label12= Subsidiaries | ||
| | | data12= Dow Inc. consists of 400 subsidiaries<ref> https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P211-216</ref> | ||
}} | }} | ||
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'''Dow Inc (International)''' | '''Dow Inc (International)''' | ||
Dow inc, was founded in 1897 by H.H Dow an electrochemical pioneer.<ref>https://corporate.dow.com/en-us/about/company/history/timeline/golden-age-of-inorganics.html </ref> | Dow inc, was founded in 1897 by H.H Dow an electrochemical pioneer.<ref>https://corporate.dow.com/en-us/about/company/history/timeline/golden-age-of-inorganics.html </ref> Dow Chemicals manufactures plastics, chemicals, and agricultural products.<ref>https://nl.dow.com/en-us</ref> The company has 36,500 employees and 109 manufacturing sites in 31 different countries.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2019/ar/874827_029_CL_WEB.pdf </ref> The headquarters are located in Michigan, United States.<ref>https://corporate.dow.com/en-us/locations.html </ref> In 2021, Dow chemical reported a revenue of 54.9 billion USD.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2021/ar/Dow_Inc_2021_Annual_Report.pdf#xd_co_f=ZTE3MDQ5MDktOWFlNC00YjQwLWI2ODAtNjY5OGZhZDlmYmYz~ p73</ref> | ||
'''Dow Chemical (Benelux)''' | '''Dow Chemical (Benelux)''' | ||
'''Dow Chemical Benelux''' styled as '''Dow Chemical''', is part of Dow Inc. Dow has been active in the Benelux since 1955.<ref>https://nl.dow.com/en-us.html </ref> In 1961 Dow purchased a manufacturing site in Terneuzen, The Netherlands.<ref>https://corporate.dow.com/en-us/about/company/history/timeline/going-global-first-era-commercialization.html </ref> | '''Dow Chemical Benelux''' styled as '''Dow Chemical''', is part of Dow Inc. Dow has been active in the Benelux since 1955.<ref>https://nl.dow.com/en-us.html </ref> In 1961 Dow purchased a manufacturing site in Terneuzen, The Netherlands.<ref>https://corporate.dow.com/en-us/about/company/history/timeline/going-global-first-era-commercialization.html </ref> Now Dow Chemical Benelux is located in eight major locations in the Netherlands (Terneuzen, Delfzijl and Dordrecht) and Belgium (Antwerp, Brussels, Tertre, Zwijndrecht and since 2016, Seneffe).<ref>https://nl.dow.com/en-us.html</ref> With 16 factories, Dow Terneuzen is Dow’s second-largest manufacturing site in the world.<ref>https://nl.dow.com/en-us/locations/terneuzen.html </ref> Besides this, Terneuzen is also the central point for supporting Dow services in Europe, the Middle East, Africa and India. Dow Benelux overall has approximately 4000 employees,<ref>https://nl.dow.com/en-us.html</ref> of which 3550 employees work at the location in Terneuzen.<ref> https://nl.dow.com/en-us/locations/terneuzen.html</ref> The Value Park, located at the Terneuzen site, covers 140 hectares and is targeted at companies working in the chemical industries. The park is located at a convient location as it is directed to railroads, the road network, and international waterways.<ref>https://nl.dow.com/en-us/locations/terneuzen.html</ref> Futhermore, the park is located to the Dow pipeline that extents from Terneuzen to Antwerp (220km).<ref>https://nl.dow.com/en-us/locations/terneuzen.html</ref> This pipeline transports ethylene, naphtha and propylene.<ref>https://nl.dow.com/en-us/locations/terneuzen.html</ref> The size and importance of Dow Benelux to Dow Inc. shows that they are a key player in their field. | ||
== Company Structure == | == Company Structure == | ||
Dow Inc. works with two boards, the leadership team and the board of directors. The leadership team is focused on the day-to-day business such as creating strong and balanced growth for their stakeholders.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf p6</ref> | Dow Inc. works with two boards, the leadership team and the board of directors. The leadership team is focused on the day-to-day business such as creating strong and balanced growth for their stakeholders.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf p6</ref> The board of directors focuses on the broad corporate policy and the overall performance of the company through oversight of management and stewardship of the company.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19</ref> The board appoints the company’s officers and assigns to them responsibilities for the management of the company’s operations.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19</ref> | ||
There is no information available on the structure of the leadership at Dow | There is no information available on the structure of the leadership at Dow Chemical. What is known is that Anton van Beek is the president-director of Dow Chemical<ref>https://www.ad.nl/zeeland/nieuw-hoofdkantoor-dow-zie-dit-als-de-bol-com-van-de-chemie~aed92043/ </ref> and that Neil Carr is the president of the operations in Europe. | ||
=== Leadership Team === | === Leadership Team === | ||
Line 80: | Line 82: | ||
|Jim Fitterling | |Jim Fitterling | ||
|Chief Executive Officer & Chairman | |Chief Executive Officer & Chairman | ||
|22211 | |22211 | ||
|- | |- | ||
|Howard Ungerleider | |Howard Ungerleider | ||
|President and CFO | |President and CFO | ||
|8475 | |8475 | ||
|- | |- | ||
|Jack Broodo | |Jack Broodo | ||
|President, Feedstocks & Energy | |President, Feedstocks & Energy | ||
| | |Unknown | ||
|- | |- | ||
|Neil Carr | |Neil Carr | ||
|President, Europe, Middle East, Africa, and India | |President, Europe, Middle East, Africa, and India | ||
| | |Unknown | ||
|- | |- | ||
|Karen S. Carter | |Karen S. Carter | ||
|Chief HR and Chief Inclusion Officer | |Chief HR and Chief Inclusion Officer | ||
| | |Unknown | ||
|- | |- | ||
|Diego Donoso | |Diego Donoso | ||
|President Packaging & Specialty Plastics | |President Packaging & Specialty Plastics | ||
| | |Unknown | ||
|- | |- | ||
|Mauro Gregorio | |Mauro Gregorio | ||
|President, Performance Materials & Coatings | |President, Performance Materials & Coatings | ||
| | |Unknown | ||
|- | |- | ||
|Melanie Kalmar | |Melanie Kalmar | ||
|Corporate VP Chief Information Officer & Chief Digital Officer | |Corporate VP Chief Information Officer & Chief Digital Officer | ||
| | |Unknown | ||
|- | |- | ||
|Torsten Kraef | |Torsten Kraef | ||
|Senior VP, Corporate Development | |Senior VP, Corporate Development | ||
| | |Unknown | ||
|- | |- | ||
|Jane Palmieri | |Jane Palmieri | ||
|President, Industrial Intermediates & Infrastructures; Asia Pacific Oversight | |President, Industrial Intermediates & Infrastructures; Asia Pacific Oversight | ||
| | |Unknown | ||
|- | |- | ||
|John Sampson | |John Sampson | ||
|Senior VP, Operations, Manufacturing and Engineering | |Senior VP, Operations, Manufacturing and Engineering | ||
| | |Unknown | ||
|- | |- | ||
|A.N. Sreeram | |A.N. Sreeram | ||
|Senior VP, Research & Development and Chief Technology Officer | |Senior VP, Research & Development and Chief Technology Officer | ||
|5185 | |5185 | ||
|- | |- | ||
|Amy E. Wilson | |Amy E. Wilson | ||
|General Counsel and Corporate Secretary | |General Counsel and Corporate Secretary | ||
|5729 | |5729 | ||
|} | |} | ||
The remuneration is from 2020 and includes | The remuneration is from 2020 and includes i) Salary, ii) Stock Awards, iii) Option Awards, iv) Non-Equity Incentive Plan Compensation, v) Change in pension value, vi) Other (Travel Expenses, Tax reimbursements, etc.).<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf P62</ref> | ||
===Board of Directors=== | ===Board of Directors=== | ||
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|Jim Fitterling | |Jim Fitterling | ||
|Chief Executive Officer & Chairman | |Chief Executive Officer & Chairman | ||
|22211 | |22211 | ||
|- | |- | ||
| | |Richard K. Davis | ||
|Lead Director Dow Inc. | |Lead Director Dow Inc. | ||
| | | | ||
|- | |- | ||
|Samuel R. Allen | |Samuel R. Allen | ||
Line 152: | Line 154: | ||
|325 | |325 | ||
|- | |- | ||
|Guardie Banister Jr. | |||
|Guardie Banister Jr. | |||
|Former President and CEO, Aera Energy LLC | |Former President and CEO, Aera Energy LLC | ||
|185 | |185 | ||
|- | |- | ||
|Wesley G. Bush | |Wesley G. Bush | ||
|Former Chairman and CEO Northrop Grumman Corporation | |Former Chairman and CEO Northrop Grumman Corporation | ||
|310 | |310 | ||
|- | |||
|Debra L. Dial | |||
|Senior Vice President and Controller | |||
| | |||
|- | |- | ||
| | |Jeff M. Fettig | ||
| | |Former Chairman and Chief Executive Officer | ||
| | | | ||
|- | |- | ||
|Jacquiline C. Hinman | |Jacquiline C. Hinman | ||
|Former Chairman, President and CEO CH2M HILL | |Former Chairman, President and CEO CH2M HILL | ||
|310 | |310 | ||
|- | |||
|Luis Alberto Moreno | |||
|Managing Director | |||
| | |||
|- | |- | ||
|Jill S. Wyant | |Jill S. Wyant | ||
|Executive VP of Innovation and Transformation Ecolab Inc. | |Executive VP of Innovation and Transformation Ecolab Inc. | ||
|278 | |278 | ||
|- | |- | ||
|Daniel W. Yohannes | |Daniel W. Yohannes | ||
Line 193: | Line 191: | ||
=== Accountant === | === Accountant === | ||
The independent Auditors of Dow Chemical are Deloitte & Touche LLP (Deloitte).<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P169</ref> They have been the auditors since 1905.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P73</ref> | The independent Auditors of Dow Chemical are Deloitte & Touche LLP (Deloitte).<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P169</ref> They have been the auditors since 1905.<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P73</ref> In their auditor reports, they do not mention climate change or climate-related risks. | ||
=== Main Activities === | === Main Activities === | ||
Dow Chemical is active in the | Dow Chemical is active in the chemical sector with products like polystyrene, polyurethane, polyethylene, and polypropylene.<ref>https://nl.dow.com/en-us.html</ref> These products are used in many different markets such as agriculture, healthcare, and packaging.<ref>https://nl.dow.com/en-us.html</ref> | ||
===Government=== | ===Government=== | ||
Line 203: | Line 201: | ||
Dow Chemical does not have royal status.<ref>https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk</ref> Dow Chemical has not received NOW support from the Dutch government.<ref>https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf</ref> | Dow Chemical does not have royal status.<ref>https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk</ref> Dow Chemical has not received NOW support from the Dutch government.<ref>https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf</ref> | ||
== Paris Agreement | == Paris Agreement until Today == | ||
Dow | Dow Inc. accepts the scientific consensus that climate change caused by increasing greenhouse gas (GHG) emissions from human activity has serious consequences for the planet and society if left unaddressed.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35</ref> Furthermore, Dow Inc. supports the Paris agreement and is committed to achieve the goal of keeping global temperature rise well below 2°C, and to pursue efforts to limit the increase to 1.5°C.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35</ref> | ||
Dow Inc. created a set of sustainability goals to reach by 2025. In its latest ESG report, the company provided an update on these goals in relation to the progress made by 2020. | |||
Goal 1: Leading the Blueprint. With this goal, Dow Inc aims to cultivate a societal mindset shift on the value and necessity of incorporating diverse perspectives and collaborations to address global challenges. Dow Inc measures this goal through the creation and implementation of the company's Blueprint Thinking Toolkit and through sharing blueprints.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P53</ref> In 2020 Dow Inc's Blueprint thinking work and the toolkit were shortlisted in the Think Global Forum's award.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P53</ref> | |||
Goal 2: Delivering Breakthrough Innovations. This goal focuses on the well-being of humanity and the environment based on the life-cycle of Dow Inc's products.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P54</ref> Each Dow business has its own business-specific product sustainability goals. These goals are tracked using the Sustainable Chemistry Index (SCI) survey. This survey showed that, in 2020, 48% of sales were from products that address world challenges.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P54</ref> | |||
Goal 3: Advancing a Circular Economy. In 2020, Dow announced that the company will focus on: designing materials for a circular economy, stopping waste and closing the loop on materials in the company's operations, enabling others to advance the circular economy, and scaling business models to keep materials in play.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P55</ref> | |||
Goal 4: Valuing Nature. In 2020, Dow Inc realized $100 million in business value towards this goal. Since the launch of this goal, Dow Inc has realized $530 million in business value through projects that are better for business and better for nature.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P56</ref> | |||
Goal 5: Safe material for a sustainable planet. In 2020, Dow announced a sustainable alternative ECOSURF EH. This product offers a reduction in aquatic toxicity and reduces potential eco-toxicity over a lifetime. This product allows Dow Inc to create more sustainable formulations for cleaning, coating, and agriculture products.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p57</ref> | |||
Dow inc. | Goal 6: Engaging for impact. Target, by 2025 Dow inc. employees and partners worldwide will apply their resources to help build sustainable and resilient communities. In 2020, the Employee Experience score was 8 percentage points higher for Dow employees who volunteered vs. those who did not.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p58</ref> | ||
Goal 7: World-leading operations (WLO) performance. Dow Inc uses the WLO to track its performance in natural resource efficiency, environment, and health and safety. In 2020, Dow Inc increased its total worker health index by 10 percentage points over 2019.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p 59</ref> | |||
===Financial Results since 2015=== | ===Financial Results since 2015=== | ||
{| class="wikitable" | {| class="wikitable" | ||
|+Financial situation | |+Financial situation Dow Inc | ||
!Year | !Year | ||
!Revenue | !Revenue | ||
!Profit | !Profit (loss) | ||
!Dividend | !Dividend | ||
|- | |- | ||
|2015<ref>annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2015.pdf</ref> | |2015<ref>annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2015.pdf</ref> | ||
|48 | |48.8 billion USD | ||
|7 | |7.4 billion USD | ||
|1 | |1.91 billion USD | ||
|- | |- | ||
|2016<ref>https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2016.pdf</ref> | |2016<ref>https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2016.pdf</ref> | ||
|48 | |48.2 billion USD | ||
|3 | |3.9 billion USD | ||
|2 | |2.04 billion USD | ||
|- | |- | ||
|2017<ref>https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2017.PDF</ref> | |2017<ref>https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2017.PDF</ref> | ||
|62 | |62.5 billion USD | ||
|1 | |1.5 billion USD | ||
|3 | |3.40 billion USD | ||
|- | |- | ||
|2018 | |2018 | ||
Line 265: | Line 249: | ||
|- | |- | ||
|2019 | |2019 | ||
|42 | |42.9 billion USD | ||
| | | (1.2) billion USD | ||
|XXX billion USD | |XXX billion USD | ||
|- | |- | ||
|2020 | |2020 | ||
|38 | |38.5 billion USD | ||
|1 | |2.1 billion USD | ||
|XXX USD | |XXX billion USD | ||
|- | |- | ||
|2021 | |2021<ref>https://s23.q4cdn.com/981382065/files/doc_financials/2021/ar/Dow_Inc_2021_Annual_Report.pdf#xd_co_f=ZTE3MDQ5MDktOWFlNC00YjQwLWI2ODAtNjY5OGZhZDlmYmYz~ p73</ref> | ||
| | |54.9 billion USD | ||
| | |8.1 billion USD | ||
|XXX billion USD | |XXX billion USD | ||
|} | |} | ||
== Current Emissions == | == Current Emissions == | ||
{| class="wikitable" | {| class="wikitable" | ||
|+Total emissions 108 | |+Total emissions 108 Megatons of CO2 (2020) | ||
!Scope 1 | !Scope 1 | ||
!Scope 2 | !Scope 2 | ||
!Scope 3 | !Scope 3 | ||
|- | |- | ||
|28 | |28.2 Megatonnes of CO2 (2020) | ||
|11 | |11.46 Megatonnes of CO2 (2020) | ||
|69 | |69.257 Megatonnes of CO2 (2020) | ||
|- | |- | ||
|} | |} | ||
====Scope 1 and 2==== | ====Scope 1 and 2==== | ||
For the Dow | For the Dow Inc. GHG emissions report, scope 1 includes Kyoto Protocol greenhouse gases carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6),and nitrogen trifluoride (NF3) as well as any non-Kyoto greenhouse gases emitted.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P65</ref> Scope 2 includes carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2 O).<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P65</ref> Reported scope 1 and 2 GHG emissions showed little change from 2018. | ||
{| class="wikitable" | {| class="wikitable" | ||
Line 316: | Line 288: | ||
|- | |- | ||
|Scope 1 GHG Emissions | |Scope 1 GHG Emissions | ||
|28 | |28.4 | ||
|27 | |27.2 | ||
|28 | |28.2 | ||
|- | |- | ||
|Scope 2 GHG Emissions - Market-Based | |Scope 2 GHG Emissions - Market-Based | ||
|6 | |6.66 | ||
|6 | |6.07 | ||
|6 | |6.56 | ||
|- | |- | ||
|Scope 2 GHG Emissions - Location-Based | |Scope 2 GHG Emissions - Location-Based | ||
|7 | |7.6 | ||
|5 | |5.2 | ||
|4 | |4.9 | ||
|- | |- | ||
|Scope 1 + Scope 2 GHG Emissions | |Scope 1 + Scope 2 GHG Emissions | ||
|35 | |35.06 | ||
|33 | |33.27 | ||
|34 | |34.76 | ||
|- | |- | ||
|} | |} | ||
====Scope 3==== | ====Scope 3==== | ||
Scope 3 emissions are defined by the GHG Protocol as indirect emissions from value chain activities.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P66</ref> | Scope 3 emissions are defined by the GHG Protocol as indirect emissions from value chain activities.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P66</ref> Estimates include all or a subset of Kyoto GHGs [carbon dioxide (CO2 ), methane (CH4 ), nitrous oxide (N2 O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6 ), and nitrogen trifluoride (NF3 )] depending on the category and estimation methodology.<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P66</ref> | ||
{| class="wikitable" | {| class="wikitable" | ||
|+GHG Emissions (Megatons of CO2e) <ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180</ref> | |+GHG Emissions (Megatons of CO2e)<ref>https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180</ref> | ||
!GHG Emissions | !GHG Emissions | ||
!2018 | !2018 | ||
Line 348: | Line 320: | ||
|- | |- | ||
|Scope 3 GHG Emissions - Total | |Scope 3 GHG Emissions - Total | ||
|69 | |69.163 | ||
|93 | |93.943 | ||
|69 | |69.257 | ||
|- | |- | ||
|Category 1: Purchased Goods & Services | |Category 1: Purchased Goods & Services | ||
|42 | |42.841 | ||
|60 | |60.053 | ||
|38 | |38.166 | ||
|- | |- | ||
|Category 2: Capital Goods | |Category 2: Capital Goods | ||
|2 | |2.590 | ||
|2 | |2.776 | ||
|1 | |1.760 | ||
|- | |- | ||
|Category 3: Fuel & Energy-Related Activities | |Category 3: Fuel & Energy-Related Activities | ||
|0 | |0.863 | ||
|8 | |8.270* | ||
|4 | |4.745 | ||
|- | |- | ||
|Category 4: Upstream Transportation & Distribution | |Category 4: Upstream Transportation & Distribution | ||
|2 | |2.158 | ||
|N/A | |N/A | ||
|N/A | |N/A | ||
Line 377: | Line 349: | ||
== Climate Policy and Plans == | == Climate Policy and Plans == | ||
===Dow | ===Dow Chemical (Benelux)=== | ||
In | In 2020 Dow Chemical initiated a joint development agreement with Shell to develop electrified cracking technology. This technology can be powered by clean energy. Ethylene steam crackers are one of the technologies used by Dow and Shell. This technology relies on fossil fuel combustion.<ref>https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html </ref> Using renewable electricity could help decarbonize the chemical industry. Currently projects from Shell and Amsterdam and Dow in Terneuzen are working to design and scale “e-cracker” technologies.<ref>https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html</ref> | ||
The overall sustainability statement of Dow Checmical is that the company is in agreement with the goals set by Dow Inc. but Dow Checmical (Benelux) does have its own sustainability targets. | |||
Targets: | Targets:<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> | ||
* | * reduce CO2 emissions from Terneuzen operations by more than 40% by 2030 | ||
* | * Achieve net CO2 neutrality by 2050 | ||
The company is of the opinion that "This roadmap makes Terneuzen one of the most important sites and a role model for the Company's global transition".<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> | |||
Dow Chemical aims to reach these goals through a three-phase plan: | |||
''Phase 1'' | |||
The Terneuzen site wants to start the construction of a clean hydrogen plant where by-products from core production processes would be converted into hydrogen and CO2. The hydrogen would be used as a clean fuel in the production process. The CO2 would be captured and stored until alternative technologies develop, and Dow will also look for ways to enable usage of the CO2 in its processes rather than storing it.<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> This hydrogen plant is expected to startup in 2026 and could allow Dow Benelux to reduce their CO2 emissions by approximately 1.4 million tons per year. | |||
Dow | Furthermore, phase 1 would include additional investments in site infrastructure for CO2 liquefaction, air separation, hydrogen distribution and CO2 transport.<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> | ||
''Phase 2'' | |||
In the second phase, by 2030, Dow Chemical states that it will capture CO2 from its ethylene oxide plant and replace some gas turbines with electrical motor drives.<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> These two steps together could avoid another 300.000 tons of CO2 per year. | |||
''Phase 3'' | |||
In the third phase Dow Chemical aims to develop and implement additional breakthrough technologies to replace fuel usage in the production processes.<ref>https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx</ref> An example of this is the collaboration with Shell to work on "E-Crackers" as mentioned above. | |||
=== NewClimate Institute (NCI) Report === | |||
== Due Diligence == | |||
===Due Diligence=== | |||
According to research conducted by the Political Economy Research Institute, Dow Inc. ranks sixth on the Toxic 100 Air Rank and 2nd on the Toxic 100 Water Rank.<ref>Political Economy Research Institute. ''Combined Toxic 100/Greenhouse 100 Indexes (2021 Report, Based on 2019 Data),'' accessed on May 5th 2022. https://peri.umass.edu/combined-toxic-100-greenhouse-100-indexes-current</ref> | |||
===Scandals and controversies=== | |||
'''Terneuzen''' | |||
In 2014, the court in Middleburg gave Dow Benelux BV in Terneuzen a 1.8 million euro fine.<ref>https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636</ref> Originally 5 million euros were demanded of the company due to various environmental crimes between 2005 and 2008. The crimes were in relation to chemical leaks at the manufacturing sites in Terneuzen. The court could not conclude that there was a lack of safety protocols at Dow Benelux, but could say that the safety protocols were not enforced strictly enough. Therefore, the court demanded 1,8 million euros instead of 5 million.<ref>https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636 </ref> | |||
One of these incidents was in 2005 when a tank with benzene flooded. Another example was in 2006 when benzene was leaking from the pipelines for multiple days.<ref>https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636 </ref> Even though Dow Chemical did hire companies to repair this leak it did not close down the manufacturing site, putting its employees at risk of explosion.<ref>https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636 </ref> | |||
'''Groningen''' | |||
'' | |||
In 2011, at one of the daughter companies of Dow Chemicals, Farmsun in Groningen, a fault in loading Sodium off of a train wagon caused for a fire.<ref>https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle</ref> While off-loading the Sodium off the train wagon several hundred kilos of sodium fell on the ground and caught fire. After several explosions in the building next to the train, the fire department was able to put out the fire.<ref>https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle</ref> The fire caused for a lot of smoke in the surrounding neighborhoods, the fire department recommended that people keep their windows and doors closed, and to stay inside.<ref>https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle</ref> | |||
In the | |||
== Conclusion == | == Conclusion == | ||
Dow | Dow Inc is one of the biggest companies in the chemical sector. With 109 manufacturing sites in 31 different countries and employing around 36.500 employees, this company has a moral responsibility to be a leader in fighting climate change. | ||
Dow | Dow Chemical (Benelux) has set clear goals for 2030 and 2050 but the way in which these goals will be achieved is less clear. The three-phase plan, according to the company itself "one of the most important sites and a role model for the company's global transition". However, the three-phase plan lacks concrete ideas and the scope 3 emissions are not yet included at all. | ||
These limitations with the climate goals of 2030 and 2050 make it difficult to assess if it is enough to stay within the set limits of the Paris Agreement. | These limitations with the climate goals of 2030 and 2050 make it difficult to assess if it is enough to stay within the set limits of the Paris Agreement. | ||
==References== | ==References== |
Latest revision as of 11:27, 13 July 2022
Dow Chemical Benelux | |
---|---|
Quick Facts | |
Type | Public |
sector | Chemical Industries |
Headquarters (Benelux Organization) | Terneuzen, Netherlands |
Year of Origin | 1955 |
Emissions (All Scopes) | 108 Megatons of CO2 (2020) (Dow Inc.) |
NCI assessment | Low |
Total Revenue | 54.9 billion USD (2020) |
Stock Exchange | New York |
Key People | Anton van Beek(President-director Benelux) Jim Fitterling(CEO & Chairman Dow Inc.) |
Number of Employees | 4,000 (Benelux) |
Subsidiaries | Dow Inc. consists of 400 subsidiaries[1] |
Dow Inc (International)
Dow inc, was founded in 1897 by H.H Dow an electrochemical pioneer.[2] Dow Chemicals manufactures plastics, chemicals, and agricultural products.[3] The company has 36,500 employees and 109 manufacturing sites in 31 different countries.[4] The headquarters are located in Michigan, United States.[5] In 2021, Dow chemical reported a revenue of 54.9 billion USD.[6]
Dow Chemical (Benelux)
Dow Chemical Benelux styled as Dow Chemical, is part of Dow Inc. Dow has been active in the Benelux since 1955.[7] In 1961 Dow purchased a manufacturing site in Terneuzen, The Netherlands.[8] Now Dow Chemical Benelux is located in eight major locations in the Netherlands (Terneuzen, Delfzijl and Dordrecht) and Belgium (Antwerp, Brussels, Tertre, Zwijndrecht and since 2016, Seneffe).[9] With 16 factories, Dow Terneuzen is Dow’s second-largest manufacturing site in the world.[10] Besides this, Terneuzen is also the central point for supporting Dow services in Europe, the Middle East, Africa and India. Dow Benelux overall has approximately 4000 employees,[11] of which 3550 employees work at the location in Terneuzen.[12] The Value Park, located at the Terneuzen site, covers 140 hectares and is targeted at companies working in the chemical industries. The park is located at a convient location as it is directed to railroads, the road network, and international waterways.[13] Futhermore, the park is located to the Dow pipeline that extents from Terneuzen to Antwerp (220km).[14] This pipeline transports ethylene, naphtha and propylene.[15] The size and importance of Dow Benelux to Dow Inc. shows that they are a key player in their field.
Company Structure
Dow Inc. works with two boards, the leadership team and the board of directors. The leadership team is focused on the day-to-day business such as creating strong and balanced growth for their stakeholders.[16] The board of directors focuses on the broad corporate policy and the overall performance of the company through oversight of management and stewardship of the company.[17] The board appoints the company’s officers and assigns to them responsibilities for the management of the company’s operations.[18]
There is no information available on the structure of the leadership at Dow Chemical. What is known is that Anton van Beek is the president-director of Dow Chemical[19] and that Neil Carr is the president of the operations in Europe.
Leadership Team
Name | Function | Remuneration x1000USD |
---|---|---|
Jim Fitterling | Chief Executive Officer & Chairman | 22211 |
Howard Ungerleider | President and CFO | 8475 |
Jack Broodo | President, Feedstocks & Energy | Unknown |
Neil Carr | President, Europe, Middle East, Africa, and India | Unknown |
Karen S. Carter | Chief HR and Chief Inclusion Officer | Unknown |
Diego Donoso | President Packaging & Specialty Plastics | Unknown |
Mauro Gregorio | President, Performance Materials & Coatings | Unknown |
Melanie Kalmar | Corporate VP Chief Information Officer & Chief Digital Officer | Unknown |
Torsten Kraef | Senior VP, Corporate Development | Unknown |
Jane Palmieri | President, Industrial Intermediates & Infrastructures; Asia Pacific Oversight | Unknown |
John Sampson | Senior VP, Operations, Manufacturing and Engineering | Unknown |
A.N. Sreeram | Senior VP, Research & Development and Chief Technology Officer | 5185 |
Amy E. Wilson | General Counsel and Corporate Secretary | 5729 |
The remuneration is from 2020 and includes i) Salary, ii) Stock Awards, iii) Option Awards, iv) Non-Equity Incentive Plan Compensation, v) Change in pension value, vi) Other (Travel Expenses, Tax reimbursements, etc.).[21]
Board of Directors
Name | Function | Remuneration x1000USD |
---|---|---|
Jim Fitterling | Chief Executive Officer & Chairman | 22211 |
Richard K. Davis | Lead Director Dow Inc. | |
Samuel R. Allen | Former Chairman and CEO, Deere & Company | 325 |
Guardie Banister Jr. | Former President and CEO, Aera Energy LLC | 185 |
Wesley G. Bush | Former Chairman and CEO Northrop Grumman Corporation | 310 |
Debra L. Dial | Senior Vice President and Controller | |
Jeff M. Fettig | Former Chairman and Chief Executive Officer | |
Jacquiline C. Hinman | Former Chairman, President and CEO CH2M HILL | 310 |
Luis Alberto Moreno | Managing Director | |
Jill S. Wyant | Executive VP of Innovation and Transformation Ecolab Inc. | 278 |
Daniel W. Yohannes | Former U.S. Ambassador to the Organisation for Economic Co-operation and Development | 310 |
The remuneration is of 2020 and includes; Fees earned and stock awards.[23]
Accountant
The independent Auditors of Dow Chemical are Deloitte & Touche LLP (Deloitte).[24] They have been the auditors since 1905.[25] In their auditor reports, they do not mention climate change or climate-related risks.
Main Activities
Dow Chemical is active in the chemical sector with products like polystyrene, polyurethane, polyethylene, and polypropylene.[26] These products are used in many different markets such as agriculture, healthcare, and packaging.[27]
Government
Dow Chemical does not have royal status.[28] Dow Chemical has not received NOW support from the Dutch government.[29]
Paris Agreement until Today
Dow Inc. accepts the scientific consensus that climate change caused by increasing greenhouse gas (GHG) emissions from human activity has serious consequences for the planet and society if left unaddressed.[30] Furthermore, Dow Inc. supports the Paris agreement and is committed to achieve the goal of keeping global temperature rise well below 2°C, and to pursue efforts to limit the increase to 1.5°C.[31]
Dow Inc. created a set of sustainability goals to reach by 2025. In its latest ESG report, the company provided an update on these goals in relation to the progress made by 2020.
Goal 1: Leading the Blueprint. With this goal, Dow Inc aims to cultivate a societal mindset shift on the value and necessity of incorporating diverse perspectives and collaborations to address global challenges. Dow Inc measures this goal through the creation and implementation of the company's Blueprint Thinking Toolkit and through sharing blueprints.[32] In 2020 Dow Inc's Blueprint thinking work and the toolkit were shortlisted in the Think Global Forum's award.[33]
Goal 2: Delivering Breakthrough Innovations. This goal focuses on the well-being of humanity and the environment based on the life-cycle of Dow Inc's products.[34] Each Dow business has its own business-specific product sustainability goals. These goals are tracked using the Sustainable Chemistry Index (SCI) survey. This survey showed that, in 2020, 48% of sales were from products that address world challenges.[35]
Goal 3: Advancing a Circular Economy. In 2020, Dow announced that the company will focus on: designing materials for a circular economy, stopping waste and closing the loop on materials in the company's operations, enabling others to advance the circular economy, and scaling business models to keep materials in play.[36]
Goal 4: Valuing Nature. In 2020, Dow Inc realized $100 million in business value towards this goal. Since the launch of this goal, Dow Inc has realized $530 million in business value through projects that are better for business and better for nature.[37]
Goal 5: Safe material for a sustainable planet. In 2020, Dow announced a sustainable alternative ECOSURF EH. This product offers a reduction in aquatic toxicity and reduces potential eco-toxicity over a lifetime. This product allows Dow Inc to create more sustainable formulations for cleaning, coating, and agriculture products.[38]
Goal 6: Engaging for impact. Target, by 2025 Dow inc. employees and partners worldwide will apply their resources to help build sustainable and resilient communities. In 2020, the Employee Experience score was 8 percentage points higher for Dow employees who volunteered vs. those who did not.[39]
Goal 7: World-leading operations (WLO) performance. Dow Inc uses the WLO to track its performance in natural resource efficiency, environment, and health and safety. In 2020, Dow Inc increased its total worker health index by 10 percentage points over 2019.[40]
Financial Results since 2015
Year | Revenue | Profit (loss) | Dividend |
---|---|---|---|
2015[41] | 48.8 billion USD | 7.4 billion USD | 1.91 billion USD |
2016[42] | 48.2 billion USD | 3.9 billion USD | 2.04 billion USD |
2017[43] | 62.5 billion USD | 1.5 billion USD | 3.40 billion USD |
2018 | XXX billion USD | XXX billion USD | XXX billion USD |
2019 | 42.9 billion USD | (1.2) billion USD | XXX billion USD |
2020 | 38.5 billion USD | 2.1 billion USD | XXX billion USD |
2021[44] | 54.9 billion USD | 8.1 billion USD | XXX billion USD |
Current Emissions
Scope 1 | Scope 2 | Scope 3 |
---|---|---|
28.2 Megatonnes of CO2 (2020) | 11.46 Megatonnes of CO2 (2020) | 69.257 Megatonnes of CO2 (2020) |
Scope 1 and 2
For the Dow Inc. GHG emissions report, scope 1 includes Kyoto Protocol greenhouse gases carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6),and nitrogen trifluoride (NF3) as well as any non-Kyoto greenhouse gases emitted.[45] Scope 2 includes carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2 O).[46] Reported scope 1 and 2 GHG emissions showed little change from 2018.
GHG Emissions | 2018 | 2019 | 2020 |
---|---|---|---|
Scope 1 GHG Emissions | 28.4 | 27.2 | 28.2 |
Scope 2 GHG Emissions - Market-Based | 6.66 | 6.07 | 6.56 |
Scope 2 GHG Emissions - Location-Based | 7.6 | 5.2 | 4.9 |
Scope 1 + Scope 2 GHG Emissions | 35.06 | 33.27 | 34.76 |
Scope 3
Scope 3 emissions are defined by the GHG Protocol as indirect emissions from value chain activities.[48] Estimates include all or a subset of Kyoto GHGs [carbon dioxide (CO2 ), methane (CH4 ), nitrous oxide (N2 O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), sulfur hexafluoride (SF6 ), and nitrogen trifluoride (NF3 )] depending on the category and estimation methodology.[49]
GHG Emissions | 2018 | 2019 | 2020 |
---|---|---|---|
Scope 3 GHG Emissions - Total | 69.163 | 93.943 | 69.257 |
Category 1: Purchased Goods & Services | 42.841 | 60.053 | 38.166 |
Category 2: Capital Goods | 2.590 | 2.776 | 1.760 |
Category 3: Fuel & Energy-Related Activities | 0.863 | 8.270* | 4.745 |
Category 4: Upstream Transportation & Distribution | 2.158 | N/A | N/A |
(*)Value adjusted to reflect correction of an error since reported in the 2018/2019 Sustainability Report
Climate Policy and Plans
Dow Chemical (Benelux)
In 2020 Dow Chemical initiated a joint development agreement with Shell to develop electrified cracking technology. This technology can be powered by clean energy. Ethylene steam crackers are one of the technologies used by Dow and Shell. This technology relies on fossil fuel combustion.[51] Using renewable electricity could help decarbonize the chemical industry. Currently projects from Shell and Amsterdam and Dow in Terneuzen are working to design and scale “e-cracker” technologies.[52]
The overall sustainability statement of Dow Checmical is that the company is in agreement with the goals set by Dow Inc. but Dow Checmical (Benelux) does have its own sustainability targets.
Targets:[53]
- reduce CO2 emissions from Terneuzen operations by more than 40% by 2030
- Achieve net CO2 neutrality by 2050
The company is of the opinion that "This roadmap makes Terneuzen one of the most important sites and a role model for the Company's global transition".[54]
Dow Chemical aims to reach these goals through a three-phase plan:
Phase 1
The Terneuzen site wants to start the construction of a clean hydrogen plant where by-products from core production processes would be converted into hydrogen and CO2. The hydrogen would be used as a clean fuel in the production process. The CO2 would be captured and stored until alternative technologies develop, and Dow will also look for ways to enable usage of the CO2 in its processes rather than storing it.[55] This hydrogen plant is expected to startup in 2026 and could allow Dow Benelux to reduce their CO2 emissions by approximately 1.4 million tons per year.
Furthermore, phase 1 would include additional investments in site infrastructure for CO2 liquefaction, air separation, hydrogen distribution and CO2 transport.[56]
Phase 2
In the second phase, by 2030, Dow Chemical states that it will capture CO2 from its ethylene oxide plant and replace some gas turbines with electrical motor drives.[57] These two steps together could avoid another 300.000 tons of CO2 per year.
Phase 3
In the third phase Dow Chemical aims to develop and implement additional breakthrough technologies to replace fuel usage in the production processes.[58] An example of this is the collaboration with Shell to work on "E-Crackers" as mentioned above.
NewClimate Institute (NCI) Report
Due Diligence
Due Diligence
According to research conducted by the Political Economy Research Institute, Dow Inc. ranks sixth on the Toxic 100 Air Rank and 2nd on the Toxic 100 Water Rank.[59]
Scandals and controversies
Terneuzen
In 2014, the court in Middleburg gave Dow Benelux BV in Terneuzen a 1.8 million euro fine.[60] Originally 5 million euros were demanded of the company due to various environmental crimes between 2005 and 2008. The crimes were in relation to chemical leaks at the manufacturing sites in Terneuzen. The court could not conclude that there was a lack of safety protocols at Dow Benelux, but could say that the safety protocols were not enforced strictly enough. Therefore, the court demanded 1,8 million euros instead of 5 million.[61]
One of these incidents was in 2005 when a tank with benzene flooded. Another example was in 2006 when benzene was leaking from the pipelines for multiple days.[62] Even though Dow Chemical did hire companies to repair this leak it did not close down the manufacturing site, putting its employees at risk of explosion.[63]
Groningen
In 2011, at one of the daughter companies of Dow Chemicals, Farmsun in Groningen, a fault in loading Sodium off of a train wagon caused for a fire.[64] While off-loading the Sodium off the train wagon several hundred kilos of sodium fell on the ground and caught fire. After several explosions in the building next to the train, the fire department was able to put out the fire.[65] The fire caused for a lot of smoke in the surrounding neighborhoods, the fire department recommended that people keep their windows and doors closed, and to stay inside.[66]
Conclusion
Dow Inc is one of the biggest companies in the chemical sector. With 109 manufacturing sites in 31 different countries and employing around 36.500 employees, this company has a moral responsibility to be a leader in fighting climate change.
Dow Chemical (Benelux) has set clear goals for 2030 and 2050 but the way in which these goals will be achieved is less clear. The three-phase plan, according to the company itself "one of the most important sites and a role model for the company's global transition". However, the three-phase plan lacks concrete ideas and the scope 3 emissions are not yet included at all.
These limitations with the climate goals of 2030 and 2050 make it difficult to assess if it is enough to stay within the set limits of the Paris Agreement.
References
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P211-216
- ↑ https://corporate.dow.com/en-us/about/company/history/timeline/golden-age-of-inorganics.html
- ↑ https://nl.dow.com/en-us
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2019/ar/874827_029_CL_WEB.pdf
- ↑ https://corporate.dow.com/en-us/locations.html
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2021/ar/Dow_Inc_2021_Annual_Report.pdf#xd_co_f=ZTE3MDQ5MDktOWFlNC00YjQwLWI2ODAtNjY5OGZhZDlmYmYz~ p73
- ↑ https://nl.dow.com/en-us.html
- ↑ https://corporate.dow.com/en-us/about/company/history/timeline/going-global-first-era-commercialization.html
- ↑ https://nl.dow.com/en-us.html
- ↑ https://nl.dow.com/en-us/locations/terneuzen.html
- ↑ https://nl.dow.com/en-us.html
- ↑ https://nl.dow.com/en-us/locations/terneuzen.html
- ↑ https://nl.dow.com/en-us/locations/terneuzen.html
- ↑ https://nl.dow.com/en-us/locations/terneuzen.html
- ↑ https://nl.dow.com/en-us/locations/terneuzen.html
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf p6
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19
- ↑ https://www.ad.nl/zeeland/nieuw-hoofdkantoor-dow-zie-dit-als-de-bol-com-van-de-chemie~aed92043/
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P6
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf P62
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P7
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf P38
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P169
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P73
- ↑ https://nl.dow.com/en-us.html
- ↑ https://nl.dow.com/en-us.html
- ↑ https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk
- ↑ https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P53
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P53
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P54
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P54
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P55
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P56
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p57
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p58
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p 59
- ↑ annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2015.pdf
- ↑ https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2016.pdf
- ↑ https://www.annualreports.com/HostedData/AnnualReportArchive/t/NYSE_DOW_2017.PDF
- ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2021/ar/Dow_Inc_2021_Annual_Report.pdf#xd_co_f=ZTE3MDQ5MDktOWFlNC00YjQwLWI2ODAtNjY5OGZhZDlmYmYz~ p73
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P65
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P65
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P66
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P66
- ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180
- ↑ https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html
- ↑ https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ https://investors.dow.com/en/news/news-details/2021/Dow-Benelux-outlines-roadmap-to-support-Dutch-Climate-Agreement-achieve-CO2-emissions-neutrality/default.aspx
- ↑ Political Economy Research Institute. Combined Toxic 100/Greenhouse 100 Indexes (2021 Report, Based on 2019 Data), accessed on May 5th 2022. https://peri.umass.edu/combined-toxic-100-greenhouse-100-indexes-current
- ↑ https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636
- ↑ https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636
- ↑ https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636
- ↑ https://www.nu.nl/economie/3734244/miljoenenboete-chemiebedrijf-dow-.html?_ga=2.138385145.893487642.1643714626-1201189375.1643036636
- ↑ https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle
- ↑ https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle
- ↑ https://nos.nl/artikel/310870-brand-in-natriumfabriek-onder-controle