We live in uncertain times, facing an unprecedented combination of economic, social and geopolitical challenges. These are also times that offer incredible opportunities for companies with the courage, vision and determination to seek meaningful change. Driven by our purpose of using better science to solve the world’s toughest preservation challenges, Arxada is targeting such change in three key areas: protecting and maintaining the health and wellbeing of people, extending the life of vital infrastructure and improving the health of our planet.
In our first sustainability report as a standalone company, we are proud to report on our progress in 2022. This includes establishing our sustainability team, designing our strategy and framework, and setting bold and ambitious goals, with the aim of embedding sustainability into everything we do across our three pillars of Planet, Preservation and People.
We have demonstrated our proactive focus on sustainability from day one as a company. Thanks to support from our owners, Bain Capital and Cinven, the carve-out of Arxada was partially financed through Sustainability-Linked Financial Instruments, a first of its kind for a private equity transaction. This commitment to reducing our environmental impact during our early growth stage was just the beginning. We have subsequently made several notable sustainable investments and sharpened our sustainability strategy. The aim is to help our customers adapt to long-term environmental and social change and develop more sustainable solutions while we actively decrease our environmental footprint.
In 2022, we completed our inventory of all Scope 1, Scope 2 and Scope 3 emissions. We also submitted our science-based targets to the Science-Based Targets initiative (SBTi) for validation in 2023, establishing a net zero goal by 2050. Moreover, we are leveraging our manufacturing process technology expertise to deliver more efficient manufacturing processes for some of our key chemistries, focusing on lower carbon dioxide (CO2) and greenhouse gas (GHG) emissions.
We are helping drive the preservation industry’s transition to more sustainable and cleaner solutions through our partnerships and investments in boosters, potentiators and controlled release technologies. We continue to develop and launch innovative technologies and products that address our customers’ toughest challenges, meet increased regulatory pressures and improve the wellbeing of society.
We are working to create a culture of inclusivity for all through modern programs, benefits and structures that not only support employees to thrive and grow but enable Arxada and its people to have a positive impact in the communities where they work and live.
Thank you for your interest in our sustainability journey.
Marc Doyle, CEO