Rinchem Releases 2024 Sustainability Report

Rinchem is proud to publish its 2024 Sustainability Report. It highlights our progress toward safer operations, better environmental performance, and responsible business practices.

The report marks our second year of formal sustainability reporting. It gives an updated view of the priorities that guide our approach. These include employee and driver safety, emissions management, workplace culture, and ethical governance. It also outlines the work still ahead as we build sustainability into our long-term plans and daily operations.

1. Strengthening Safety Through Prevention and Accountability

   Safety remains central to how Rinchem operates. In 2024, our Total Case Incident Rate was 0.28, compared with an industry average of 4.9.

   During the year, Rinchem published a companywide Injury and Illness Prevention Plan. It expanded the OneTrack forklift camera system to two more locations. It also continued the work of our cross-functional Corporate Safety Committee.

   We also strengthened driver training by introducing Smith System defensive driving training and expanding

2. Advancing Our Science-Based Climate Goals

   One of the year’s most significant milestones was the validation of Rinchem’s greenhouse gas reduction targets by the Science Based Targets initiative. SBTi confirmed that our targets align with a 1.5°C trajectory.

   Our approved targets include:

   • Reducing absolute Scope 1 and 2 greenhouse gas emissions by 54.6% by 2033 from a 2022 baseline
   • Reducing Scope 3 emissions from upstream transportation and distribution by 32.5% within the same timeframe
   • Reaching net-zero greenhouse gas emissions across our value chain by 2050
   
   

   Rinchem also continued improving its annual greenhouse gas inventory and the processes used to collect and manage emissions data across our global operations.

3. Turning Operational Improvements into Measurable Results

   The report looks at the steps our facilities and transportation network are taking to cut energy use and emissions.

   At two locations, operational changes helped cut carbon emissions by 122 metric tons compared with 2023. These changes included shorter operating hours and energy-efficient LED lighting.

   The locations also reduced electricity use by 7% and 3%. One site also cut natural gas use by 21%! Additionally, reduced transportation fuel consumption also contributed to lower Scope 1 emissions.

   We are continuing to evaluate the operational, technological, and financial resources required to turn our science-based targets into a practical, long-term emissions-reduction plan.

4. Supporting Our People and Workplace Culture

   In 2024, Rinchem developed a Social Roadmap to better organize and advance our commitments to employees.

   Priorities include creating a formal Human Rights Policy, building a stronger equal employment opportunity strategy, and aligning our reporting with recognized sustainability frameworks. This work builds on our commitment to employee safety and well-being. It also supports professional development and a respectful workplace.

5. Strengthening Governance and Ethical Business Practices

   Rinchem continued to strengthen the systems that support accountability, transparency, and ethical decision-making.

   Key accomplishments:

   1. Introduction of a Business Code of Conduct (received a nearly 100% employee attestation rate)
   2. Updated Delegation of Authority Doctrine
   3. Launched of the Navex Global platform. Navex gives employees centralized access to company policies and provides a confidential, around-the-clock channel for reporting concerns.
   
   

   Looking forward, Rinchem is developing a Supplier Code of Conduct and Supplier Assessment Framework. It will strengthen Rinchem’s approach to ESG risk management and explore more ways for third-party assurance of sustainability data and management systems.

6. Continued Improvement Recognized by EcoVadis

   Rinchem’s EcoVadis score increased in 2024, earning the company a Bronze Medal. The improvement placed Rinchem in the 65th percentile (top 35%) of companies evaluated worldwide for sustainability performance.

The 2024 Sustainability Report represents progress, but it also reflects the work that remains. Rinchem will continue developing its greenhouse gas reduction plan, improving waste management practices, strengthening supplier engagement, and integrating sustainability risks into its broader risk management processes.

Our goal stays the same - protecting our people and communities. We aim to reduce our environmental impact while providing safe, reliable, and efficient solutions. These solutions support transporting and storing critical materials worldwide.