Westlake Corporation (NYSE: WLK) today announced an advance in the company’s sustainability objectives to further reduce its carbon emissions intensity by 20% by 2030, from a 2016 baseline, which is one of the company’s sustainability goals.
Westlake recently entered into an agreement with a solar renewable-energy three-farm project that generates approximately 160,000 megawatt-hours per year of renewable energy and purchased the associated renewable energy certificates (RECs). The RECs are utilized as part of this multi-year purchase agreement to offset Westlake’s electricity consumption attributed to powering its operations. Westlake is evaluating the best use of REC’s to enhance its downstream product offerings.
“The incorporation of purchased RECs into our broader sustainability strategy is an important step in our ongoing efforts to cut greenhouse gas emissions,” said Tim Hunt, Vice President, Corporate Development and Sustainability. “This initiative not only advances our own sustainability objectives but also supports our customers’ goals of decreasing emissions across their value chains while helping to drive the growth of renewable energy.”
About Westlake
Westlake Corporation is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the Company's web site at www.westlake.com.
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