Mar 15, 2022   SOURCE: BusinessWire

Chemtrade Announces Comprehensive Environmental, Social and Governance (“ESG”) Targets

Chemtrade Logistics Income Fund (TSX: CHE.UN) announced a comprehensive set of ESG targets that it will track and monitor. A summary of each of the targets is shown in the table below. Additional details are contained in Chemtrade’s 2021 Annual Information Form that is available on Chemtrade’s website (Chemtradelogistics.com) and on SEDAR (Sedar.com).

Scott Rook, President and CEO said “I am pleased to announce today our comprehensive ESG targets at Chemtrade. These targets are consistent with our strategy of being a leading example of ESG in the North American chemical industry. Achieving these targets will require a lot of hard work from everybody on our team. We are committed to achieving these targets as these are the right things to do for all our stakeholders.”

ESG TARGETS

Environmental

GHG and other air emissions

  • Reduce or offset 2021 baseline direct greenhouse gas (GHG) emissions emitted from sources we own or control (Scope 1 emissions) by 50% by 2025
  • Including all future acquisitions, maintain GHG intensity (kg GHG/kg product) below the chemical industry average (based on Chemistry Industry Association of Canada data)

Industrial and Hazardous Waste

  • Reduce high clay alumina landfill disposal by an additional 20% of 2021 baseline by 2025

Energy Management

  • Ensure a minimum of 85% of our electricity usage is from hydroelectric or other renewable sources and maintain this target when making acquisitions

Social

Workforce Health and Safety

  • Achieve employee occupational injury/illness incident rates (OIR) of 0.7 by 2025
  • Avoid all serious injuries or fatalities for employees and contractors in 2022 and beyond

Operational Safety, Emergency Preparedness and Response

  • Reduce Level 1 spills or releases by 50% of 2021 baseline by 2025
  • Reduce the number of transportation incidents by 40% of 2021 baseline by 2025

Employee Engagement and Diversity

  • Achieve industry benchmark employee engagement survey results by 2023
  • Across the organization, fill 40% of vacancies with black, Indigenous and people of colour (BIPOC) and/or women by 2024
  • Achieve 50% BIPOC and/or women in all management positions by end of 2025

Governance

Corporate Governance and Business Ethics

  • Demonstrate leadership on ESG by reporting material Sustainable Accounting Standards Board (SASB) factors in alignment with Task Force on Climate-Related Financial Disclosure model (Governance, Strategy, Risk Management, Metrics and Targets)
  • Incorporate ESG into short term and long-term incentive plans of executives starting in 2022

About Chemtrade

Chemtrade operates a diversified business providing industrial chemicals and services to customers in North America and around the world. Chemtrade is one of North America’s largest suppliers of sulphuric acid, spent acid processing services, inorganic coagulants for water treatment, sodium chlorate, sodium nitrite, sodium hydrosulphite and phosphorus pentasulphide. Chemtrade is a leading regional supplier of sulphur, chlor-alkali products, liquid sulphur dioxide, and zinc oxide. Additionally, Chemtrade provides industrial services such as processing by-products and waste streams.

Caution Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of certain securities laws, including the Securities Act (Ontario). Forward-looking statements can be generally identified by the use of words such as “anticipate”, “continue”, “estimate”, “expect”, “expected”, “intend”, “may”, “will”, “project”, “plan”, “should”, “believe” and similar expressions. Specifically, forward-looking statements in this news release include statements respecting certain future expectations about: Chemtrade’s ability to meet each of the ESG targets within the respective timelines noted. Forward-looking statements in this news release describe the expectations of the Fund and its subsidiaries as of the date hereof. These statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “RISK FACTORS” section of the Fund’s latest Annual Information Form and the “RISKS AND UNCERTAINTIES” section of the Fund’s most recent Management’s Discussion & Analysis.

Although the Fund believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with such forward-looking statements, and they should not be unduly relied upon.

Except as required by law, the Fund does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.