GENEVA, Switzerland (ENS) – The World Business Council for Sustainable Development, WBCSD, is launching a first-of-its-kind guidance for the chemical industry to help the industry assess sustainability “signals” across their entire product portfolio, then steer their portfolio towards improved sustainability outcomes.
These signals include chemical hazard and exposure along the life cycle of a substance; anticipated regulatory trends; environmental and social impacts, market perception and the UN Sustainable Development Goals.
This Methodology provides specific guidance for the chemical industry that builds off the WBCSD’s Framework for Portfolio Sustainability Assessments, PSAs, released in October 2017.
Companies that are steering their portfolios are finding that they can make better decisions and develop more robust strategies, the WBCSD said in a statement on Tuesday, announcing the Chemical Industry Methodology for Portfolio Sustainability Assessments.
Companies that follow this guidance “have a higher growth rate for more sustainable solutions; provide credible communication on sustainability benefits; develop stronger customer and stakeholder relationships; reduce risks across a range of issues; and improve their corporate image,” says the WBCSD. AkzoNobel, BASF, Clariant, Covestro, DSM, Eastman Chemical, Evonik Industries, SABIC and Solvay collaborated to provide guidance that the wider...
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