Air Products Publishes 2023 Sustainability Report - "Sustainability in Action"

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Jun 13, 2023, 10:00 ET

Report Highlights Air Products' Sustainability Goals and World-Scale Clean Energy Projects to Accelerate the Energy Transition

LEHIGH VALLEY, Pa., June 13, 2023 /PRNewswire/ -- Air Products (NYSE:APD) published its 2023 Sustainability Report today – "Sustainability in Action" – detailing the Company's sustainability goals, showcasing several world-scale projects, the role clean hydrogen will play in the energy transition, and highlighting how its industrial gases and expertise help customers reduce their environmental impact.

The Sustainability Report also provides stakeholders with economic, environmental and social performance data, in accordance with Global Reporting Initiative (GRI) standards "Core" option.

"During the past year, Air Products has strengthened its sustainability goals for the future, announced impressive capital spending targets for energy transition projects and continued work on several world-scale, first-mover clean energy projects focused on decarbonizing heavy-duty transportation and industrial sectors," said Seifi Ghasemi, Air Products' Chairman, President and CEO. "At the heart of all these undertakings are more than 21,000 employees who work hard every day to meet these goals and deliver these projects. Their steadfast dedication to making the world a better place through sustainable actions is all part of Air Products' Higher Purpose as a company."

The Sustainability Report highlights several world-scale projects to support the energy transition, including:

The world's largest green hydrogen complex: Air Products, in conjunction with ACWA Power and NEOM, are building a multi-billion dollar, world-scale green hydrogen-based ammonia production facility powered by renewable energy in NEOM, in the Kingdom of Saudi Arabia. Once onstream, the facility will supply 600 tonnes per day of carbon-free hydrogen for heavy-duty vehicles or industrial applications. If all the hydrogen produced at NEOM is used for transportation it is enough to power more than 10,000 heavy-duty trucks.
A $4.5 billion clean energy complex in Louisiana, which is Air Products' largest-ever single investment in the United States. The facility will produce 750 million standard cubic feet per day of low-carbon hydrogen. The project is also expected to be the world's largest carbon capture for permanent sequestration project, capturing 95 percent of the process facility's carbon dioxide (CO₂) emissions.
Teaming with World Energy to build a multi-billion major expansion at World Energy's Sustainable Aviation Fuel (SAF) production and distribution hub in Paramount, California. The facility will be the world's first commercial scale SAF facility and will produce 340 million gallons of fuel annually.
A $1.6 billion (CAD) net-zero hydrogen energy complex in Edmonton, Alberta, Canada. This transformative hydrogen facility will deploy advanced technology that enables carbon capture for permanent sequestration. In addition, to avoid the indirect emissions associated with using electrical power from the grid, the complex includes a 100 percent hydrogen-fueled power generation unit.

The Sustainability Report also showcases Air Products' expanded "Third by '30" goal to reduce its CO₂ emissions intensity (kg CO₂/MM BTU) by one-third by 2030 from a 2015 baseline, as well as progress on other sustainability-related goals. In 2022, Air Products expanded its "Third by '30" goal to include Scope 3 emissions, in addition to the previously announced commitment to reduce Scope 1 and Scope 2 emissions intensity.

Below are a few sustainability highlights from this year's report:

Air Products increased its capital commitment to first-mover energy transition projects to at least $15 billion in investments through 2027.
Air Products pledged to reach net-zero carbon emissions from its operations by 2050.
In 2022, Air Products' industrial gases and technologies enabled its customers to avoid 86 million tons of CO₂ emissions, more than three times Air Products' combined direct (Scope 1) and indirect (Scope 2) CO₂emissions.
Air Products generated 56 percent of fiscal 2022 revenues from sustainable offerings.
Air Products has avoided more than two million metric tons of CO₂ emissions at our facilities since 2015 through efficiency improvements.

The Sustainability Report also cites several important recognitions received by the Company during the prior year, including Air Products' inclusion in the Human Rights Campaign Foundation's 2022 Corporate Equality Index and being named One of America's Best Employers for Diversity by Forbes. Air Products was also named to the Dow Jones Sustainability North America Index (DJSI) for the 13th consecutive year.

The complete Sustainability Report, supporting documents and a short highlights video are available on Air Products' Sustainability website.

About Air Products

Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of over $60 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

SOURCE Air Products