We are pleased to share our inaugural Environment, Social & Governance (ESG) report, which reflects yet another milestone in Element Solutions’ journey. This report is a public declaration and acknowledgement of our commitment to sustainability. In it, we establish the baseline against which we intend to measure and challenge ourselves going forward to improve our own and our customers’ environmental impacts.
Today, we already provide a broad portfolio of solutions that enable better outcomes for our supply chains, our society and our planet. We pioneered the solution that will allow the automotive industry to move away from hexavalent chromium. Our polyethylene terephthalate (PET) chemistries have enabled the recycling of plastic equivalent to 400 billion water bottles. Our MacDermid Envio Solutions products have allowed our customers to recover 13.7 million kilograms of valuable metals that otherwise would have been discharged as waste. The intersection between sustainability and profitability is well established in our business and has become more and more signigicant over time. Our historical investment in sustainable products has generated strong returns, and both will increase going forward. Our efforts to build ethical and socially responsible businesses make us a supplier of choice in the markets we serve and will allow us to remain a market leader for years to come.
The other source of our ongoing market leadership is our team. Element Solutions is a people-centric, customer-oriented company. Our customers choose our solutions, not simply our products. This is to say our solutions are more than just the material in the drum; they encompass our applications expertise, technical service responsiveness and assured quality. These are attributable to the dedicated and dynamic people in our laboratories, in our facilities and in the field. Our people are the most critical ingredient in our formulas.
We strive to embody the five Elements of our Culture, our “5Cs”: “Challenge”, “Commit”, “Collaborate”, “Choose” and “Care”. These values are the foundation of our organization. Our vision demands that we attract, develop and nurture a diverse, high-performance team. We must retain, promote and incentivize that talent in order to achieve our ambitious goals. Sustainability from environmental awareness to diversity and inclusion are increasingly important to recruiting and retention. Our progress in ESG will continue to improve our ability to attract and grow talent in a virtuous cycle that will support business performance.
In this report, we reflect on our current environmental impact and sustainability initiatives. Building on the release of this report, we plan on introducing our commitments to improve and relevant targets in the months to come. Our commitments emerge from our creative and inspiring people, who deliver our sustainable, high-quality solutions every day. I would like to thank my colleagues around the world for enabling our performance and driving our improvement. We would not be where we are without their incredible dedication. At Element Solutions, we have created an environment where an exceptional effort on any given day by any of our people can impact our overall performance. I am enthusiastic about how the innovative skills and expertise of our people will continue to translate into long-term results for our business, society and our planet.
President and Chief Executive Officer