Difference between revisions of "Dow Chemical"

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(*)Value adjusted to reflect correction of an error since reported in the 2018/2019 Sustainability Report
(*)Value adjusted to reflect correction of an error since reported in the 2018/2019 Sustainability Report


Revision as of 11:50, 1 February 2022

Dow Chemical Benelux
Bedrijf Logo
Quick Facts
TypePublic
sectorChemical Industries
Headquarters (Benelux Organization)Terneuzen, Netherlands
Year of Origin1955
Emissions (All Scopes)XXX Megatons of CO2 (2020)
Net IncomeUSD$ 1.3 billion (2020)
Key PeopleJim Fitterling(CEO & Chairman), Howard Ungerleider (CFO & President)
SubsidiariesDow 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 2020, Dow chemical reported a net income of 1.3 billion USD.[6] Net sales were 38,542 million USD.[7]

Dow Chemical (Benelux)

Dow Chemical Benelux styled as Dow Chemical, is part of Dow Inc. Dow has been active in the Benelux since 1955.[8] In 1961 Dow purchased a manufacturing site in Terneuzen, The Netherlands.[9] 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).[10] With 16 factories, Dow Terneuzen is Dow’s second largest manufacturing site in the world.[11] 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 4,000 employees[12] , of which 3550 employees work at the location in Terneuzen.[13] 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.[14] Futhermore, the park is located to the Dow pipeline that extents from Terneuzen to Antwerp (220km).[15] This pipeline transports ethylene, naphtha and propylene.[16] 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.[17] 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.[18] The board appoints the company’s officers and assigns to them responsibility for the management of the company’s operations.[19]

There is no information available on the structure of the leadership at Dow Benelux. What is known is that Anton van Beek is the president-director of Dow Benelux[20] and that Neil Carr is the president of the operations in Europe.

Leadership Team

Dow Chemical Leadership Team of 2020[21]
Name Function Remuneration x1000USD
Jim Fitterling Chief Executive Officer & Chairman 22211.3
Howard Ungerleider President and CFO 8475.7
Jack Broodo President, Feedstocks & Energy Unkown
Neil Carr President, Europe, Middle East, Africa, and India Unkown
Karen S. Carter Chief HR and Chief Inclusion Officer Unkown
Diego Donoso President Packaging & Specialty Plastics Unkown
Mauro Gregorio President, Performance Materials & Coatings Unkown
Melanie Kalmar Corporate VP Chief Information Officer & Chief Digital Officer Unkown
Torsten Kraef Senior VP, Corporate Development Unkown
Jane Palmieri President, Industrial Intermediates & Infrastructures; Asia Pacific Oversight Unkown
John Sampson Senior VP, Operations, Manufacturing and Engineering Unkown
A.N. Sreeram Senior VP, Research & Development and Chief Technology Officer 5185.6
Amy E. Wilson General Counsel and Corporate Secretary 5729.9

The remuneration is from 2020 and includes 1. Salary, 2. Stock Awards, 3. Option Awards, 4. Non-Equity Incentive Plan Compensation, 5. Change in pension value, 6. Other(Travel Expenses, Tax reimbursements, etc.)[22]

Board of Directors

Dow Chemical Board of Directors Team[23]
Name Function Remuneration x1000USD
Jim Fitterling Chief Executive Officer & Chairman 22211.3
Jeff M. Fettig Lead Director Dow Inc. 418.8
Samuel R. Allen Former Chairman and CEO, Deere & Company 325
Ajay Banga Executive Chairman, Mastercard Inc. 310
Guardie Banister Jr. Former President and CEO, Aera Energy LLC 185.8
Jacqueline K. Barton John G. Kirkwood and Arthur A. Noyes Professor of Chemistry 330
James A. Bell Former Executive VP, Corporate President and CFO, The Boeing Company 342.3
Wesley G. Bush Former Chairman and CEO Northrop Grumman Corporation 310
Richard k. Davis President and CEO Make-A-Wish America 310
Jacquiline C. Hinman Former Chairman, President and CEO CH2M HILL 310
Jill S. Wyant Executive VP of Innovation and Transformation Ecolab Inc. 278.8
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.[24]

Accountant

The independent Auditors of Dow Chemical are Deloitte & Touche LLP (Deloitte).[25] They have been the auditors since 1905.[26]

Operations

Dow Chemical is active in the Chemical sector with products like polystyrene, polyurethane, polyethylene, polypropylene.[27] These products are used in many different markets such as Agriculture, Healthcare, and Packaging.[28]

Dow Chemical does not have royal status.[29] Dow Chemical has not received NOW support from the Dutch government.[30]

Paris Agreement to 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.[31] Furthermore, Dow 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.[32]

Achievements

In 2020 Dow inc. 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.[33] 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.[34]

Current Policies and Emissions

Scope 1 and 2

GHG Emissions (million metric tons of CO2e) [35]
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

GHG Emissions (metric tons of CO2e) [36]
GHG Emissions 2018 2019 2020
Scope 3 GHG Emissions - Total 69,162,715 93,942,558 69,256,630
Category 1: Purchased Goods & Services 42,841,461 60,053,499 38,165,559
Category 2: Capital Goods 2,589,912 2,776,452 1,759,939
Category 3: Fuel & Energy-Related Activities 863,304 8,269,846* 4,745,020
Category 4: Upstream Transportation & Distribution 2,158,260 N/A N/A

(*)Value adjusted to reflect correction of an error since reported in the 2018/2019 Sustainability Report

Climate Plans

Beschrijving van de klimaatplannen van het bedrijf

Conclusion

Beschrijving of de plannen in lijn zijn met 'Parijs'

Bedrijfsspecifieke Passage in 'de brief'

U heeft uw duurzaamheidsbeleid vastgelegd in uw Environmental, Social and Governance report in 2020.

Wij constateren dat uw ambitie is om in 2030 uw Co2 uitstoot (scope 1, 2 en 3) te verminderen met 15% ten opzichte van 2019 en om in 2050 Co2 neutraal te opereren. U commiteert zich tevens aan het Parijs Klimaatakkoord en stelt binnen de 1.5 graden te willen blijven.

Hoewel deze ambities een stap in de goede richting zijn constateren wij dat de ambitie voor 2030 niet voldoende is om binnen de 1.5 te blijven. Tevens constateren wij dat u niet voldoende concrete plannen heeft opgesteld waaruit blijkt dat u uw ambities gaat realiseren, met name voor uw scope 3 emissies. Dat is een grote tekortkoming en maakt uw ambities niet geloofwaardig.

Daarmee draagt uw bedrijf bij aan gevaarlijke klimaatverandering en loopt u het materiële risico om mensenrechtenschendingen te veroorzaken.

  1. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P211-216
  2. ↑ https://corporate.dow.com/en-us/about/company/history/timeline/golden-age-of-inorganics.html
  3. ↑ https://nl.dow.com/en-us
  4. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2019/ar/874827_029_CL_WEB.pdf
  5. ↑ https://corporate.dow.com/en-us/locations.html
  6. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P4
  7. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P3
  8. ↑ https://nl.dow.com/en-us.html
  9. ↑ https://corporate.dow.com/en-us/about/company/history/timeline/going-global-first-era-commercialization.html
  10. ↑ https://nl.dow.com/en-us.html
  11. ↑ https://nl.dow.com/en-us/locations/terneuzen.html
  12. ↑ https://nl.dow.com/en-us.html
  13. ↑ https://nl.dow.com/en-us/locations/terneuzen.html
  14. ↑ https://nl.dow.com/en-us/locations/terneuzen.html
  15. ↑ https://nl.dow.com/en-us/locations/terneuzen.html
  16. ↑ https://nl.dow.com/en-us/locations/terneuzen.html
  17. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf p6
  18. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19
  19. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf p19
  20. ↑ https://www.ad.nl/zeeland/nieuw-hoofdkantoor-dow-zie-dit-als-de-bol-com-van-de-chemie~aed92043/
  21. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P6
  22. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf P62
  23. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P7
  24. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/Dow_Inc_2021_Proxy_Statement.pdf P38
  25. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P169
  26. ↑ https://s23.q4cdn.com/981382065/files/doc_financials/2020/ar/2020_Dow_Inc_Annual_Report.pdf P73
  27. ↑ https://nl.dow.com/en-us.html
  28. ↑ https://nl.dow.com/en-us.html
  29. ↑ https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/overzicht-predicaat-koninklijk
  30. ↑ https://www.uwv.nl/overuwv/Images/uwv-register-now-vijfde-aanvraagperiode.pdf
  31. ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35
  32. ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf p35
  33. ↑ https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html
  34. ↑ https://corporate.dow.com/en-us/esg/report/environmental-performance/climate-protection.html
  35. ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180
  36. ↑ https://corporate.dow.com/documents/about/066-00338-01-2020-esg-report.pdf P180
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