Methanex Corporation, the world’s largest producer and supplier of methanol, released its 2021 Sustainability Report. The report captures a year of focused action on Methanex’s identified material environmental, social and governance (ESG) areas.
“As a global leader in the methanol industry, we recognize that we have an opportunity and are well-positioned to actively participate in the transition to a low carbon economy,” said John Floren, President and CEO of Methanex. “In this year’s report you will read how we have deepened our understanding of the opportunities and the risks for methanol and our business as part of the energy transition.”
Highlights from Methanex’s 2021 Sustainability Report:
- Committed to reducing Scope 1 and Scope 2 GHG emission intensity from manufacturing by 10% by 2030 from 2019 levels.
- Demonstrated the best safety performance to date with a 60% reduction in recordable injuries from 2020.
- Committed resources to pursue emissions reduction initiatives, including a feasibility study for carbon capture, utilization, and storage in North America, and technology research studies of a new conventional methanol plant design that could significantly reduce CO2 emissions.
- Pursuing green methanol offtakes and have the ability to produce green methanol at our Geismar site using renewable natural gas to supply the market as it develops.
- Restarted construction on the 1.8 million tonne G3 project, an industry leading plant which will have one of the lowest CO2 emissions intensity profiles in the industry.
- Waterfront Shipping subsidiary completed the first-ever barge-to-ship methanol bunkering operation at the Port of Rotterdam, demonstrating Methanex’s continued leadership in advancing methanol as a cleaner-burning marine fuel.
- Established a Global Diversity & Inclusion (D&I) Council and a new senior role of Director, D&I to lead the development of Methanex’s D&I Strategy and the implementation of a 3-year D&I roadmap.
This year’s report represents another important step forward to enhance Methanex’s ESG disclosure as we align with elements of the Task Force on Climate-Related Financial Disclosures (“TCFD”), including board and management oversight of climate-related risks and management of these risks. The disclosures in the Report also continue to be aligned with the Sustainability Accounting Standards Board (“SASB”) reporting standards for the chemical and marine transportation sectors and some requirements of the Global Reporting Initiative (“GRI”).
