We focus significant internal efforts on improving the environmental footprints of our customers and reducing the use of hazardous chemicals in our products. We strive to ensure that our products exceed regulatory compliance requirements and international benchmarks, but also consider ways we can drive additional value for our customers by supporting their sustainability initiatives. We will continue our focus on sustainable chemistry through customer engagement, regulatory awareness and discipline in our product innovation processes.
We focus on sustainable chemistry in three key opportunity areas:
Our R&D teams, in collaboration with cross-functional product marketing and regulatory teams, lead the development of our sustainable chemistry and processes. When designing new products, we consider a myriad of features and functions, including specifications requested by our customers and original equipment manufacturers (OEMs), regulatory requirements and evolving industry standards while always aiming for best-in-class quality and safety. To complement our internal R&D, we pursue acquisitions of innovative businesses with sustainable chemistry portfolios which we believe can further our sustainability goals.
Together with global OEMs and our customers who supply to them, we are committed to ensuring the safety of our workers and the safe use of our chemical solutions throughout the value chain. It is therefore paramount that we create products with fewer hazardous chemicals. Our Product Regulatory teams engage customers, identify regulatory trends and assess principles in connection with the development of each new product. We aim to provide our customers with solutions that are safe, less hazardous and that remain high-performance options for their businesses.
We design and develop sustainable, innovative solutions that enable our customers or end-users to conserve water, optimize energy and reduce waste. A number of these products are sold to support cleantech industries, such as electric vehicles and solar panels. We understand that as part of a broad value chain, we can improve sustainability in more than just our own operations. Through these chemical technologies, we partner with our customers to assist them on their own sustainability journeys.
When we design new products, we understand the need to consider their entire lifecycle as part of the value chains in which we operate. Supporting the circular economy is important for our business, driving us to create products and services that help our customers recover, reuse and safely utilize chemical products, water, metals and energy. Many of our solutions also prolong the life of our customers’ resources and equipment.