AMG Commits to reduce its direct CO2 emissions by 20% from a baseline of 2019 (i.e., pre COVID) adjusted for the startup of our Zanesville facility. This is a total reduction of 125,000 tons of CO2.
AMG considers the subject of Environmental, Social, and Governance (“ESG”) as a core organizational value and is not limited by simply being compliant with regulations and best practices, but by demonstrating its commitment to ESG value everyday in what we do and how we do it. AMG is a global leader in “critical” materials which are essential building blocks for containing and eventually reversing the growth of atmospheric CO2 levels.
AMG was built around a series of acquisitions of companies with global leadership in critical materials. The primary strategic driver for these acquisitions was the recognition that major demand shifts would cause increasing criticality for specific materials. These demand shifts are primarily triggered by a wave of new technology applications for clean energy, energy savings, energy storage, and energy transformation. Clean energy and energy savings are essential to meet global climate targets. These targets, expressed in terms of CO2 levels and timeframes for carbon neutrality, have established a powerful, global, long-term framework for political and industrial decisions. AMG’s substantive contribution to the enablement of our customers in their efforts to significantly reduce atmospheric CO2 levels was always known to be a significant driver in the reduction of anthropogenic CO2 levels. Recently, AMG engaged a third-party sustainability consultant to quantify the CO2 reduction in terms of annual metric tons using Life Cycle Analysis (“LCA”) which then became the basis of our ECO2RP concept. ECO2RP has shown us that its enabled CO2 reduction is much larger than the direct CO2 reduction caused by our own operations.
The majority of our critical material products are enabling customers to reduce CO2 at a multiple of their direct CO2 emissions due to the production of these products. The LCA’s have provided ample proof of that concept. If AMG had not existed, the global CO2 emissions in 2023 would have been higher by 110.0 million tons (110.3 million tons enabled CO2 reduction adjusted for 0.3 million direct CO2 emissions).