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DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation is pleased to announce the release of its thirteenth annual Integrated Sustainability Report 2023. The report aligns with the updated GRI Standards 2021: Core Options. Despite the challenging business landscape and economic situations, DyStar remains committed to delivering tangible values that the Group has strategically created through the six major capitals, using the Integrated Reporting <IR> framework.
Mr. Xu Yalin, Managing Director and President of DyStar Group said, “The DyStar Integrated Sustainability Report 2023 clearly showcases DyStar’s unwavering dedication to sustainability, reaffirming its role as both a manufacturer and supplier of innovative solutions in this field. DyStar’s value-creation model will continue to support our stakeholders, including brands and retailers, direct customers, and producers in their pursuit for a sustainable quality product that can help them save valuable resources as well as being climate-impact compliant.”
Greenhouse Gas (GHG) Emissions Achievement:
DyStar’s business strategies have proven their effectiveness and delivered significant progress toward its 2025 targets. As a leading global manufacturer and supplier, the company has successfully reduced its environmental footprint in Greenhouse Gas Emission intensity and Wastewater production intensity by more than 30%, compared to the baseline year 2011.
More specifically, DyStar’s Scope 1 and Scope 2 Greenhouse Gas (GHG) Emissions intensity was 45% lower (tCO2e per ton production) than the baseline year 2011, with a totaled GHG emission of 56.91 thousand tCO2e. This is also 9% lower when compared to FY2021.
Similarly, for Wastewater production intensity, DyStar achieved a 52% reduction compared to baseline year 2011, and a 24% reduction from FY2021.
Key highlights and value-adds include (when compared to FY2021):
- Financial Capital: The results of production efficiency and streamlining manufacturing indirectly contributed to the reduction of 5.8% in operating cost
- Manufactured Capital: Apart from ensuring quality suppliers through DyStar’s internal audit, DyStar’s effort on environmental performance and climate impacts with the Institute of Public & Environmental Affairs (IPE) was recognized and ranked second by industry on IPE’s Green Supply Chain Corporate Information Transparency Index (CITI)
- Intellectual Capital: The innovative Cadira® modules continue to support the supply chain with a lower carbon footprint
- Human Capital: The full launch of DyStar University (DSU), a proprietary LMS, supports the learning and development of employees globally
- Social Capital: DyStar’s culturally diverse workforce organized a variety of activities and events in support of its global community and made a total contribution of USD 128,946 to various corporate social responsibility (“CSR”) program.
Effective Initiatives in Challenging Times:
Even in the face of challenging economic conditions, DyStar’s initiatives, implemented throughout the reporting year, continue to demonstrate their effectiveness through these figures.
Navigating the Future with Resilience:
DyStar maintains a cautious yet optimistic outlook on its global performance. As we confront the challenges that lie ahead, DyStar firmly believes that maintaining resilience is paramount to successfully navigating the forthcoming turbulence.
Source: Dystar Singapore
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