NOVA Chemicals Reports Progress on its Sustainability Strategy

Calgary, Alberta, Canada , June 17, 2020 (GLOBE NEWSWIRE) --

NOVA Chemicals Corporation, 1000 Seventh Avenue S.W., Calgary, Alberta, Canada T2P 5L5
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax

NOVA Chemicals Corporation (“NOVA Chemicals”), a leading producer of chemicals and plastic resins, published its 2019 Sustainability Report today with details on how the company is working to shape a world that is better tomorrow than it is today.

“We believe businesses like ours can be a positive catalyst for change and are pleased to share our progress as we deliver on our commitment to the betterment of society, the environment, and the economy,” said Todd Karran, president and CEO, NOVA Chemicals. “As global citizens, we are working to be part of the solution to specific challenges: plastics circular economy, plastics in the ocean and climate change. We continue to advocate for science-based dialogue and policy decisions that encourage responsible use, collection, recycling and recovery of plastic to make the elimination of plastic waste a reality,” Karran said.

NOVA Chemicals’ 2019 Sustainability Report highlights four areas of the company’s long-term strategy:   Circular Economy, Citizenship, Climate Care and Sustainability in Operations. The report has been prepared in accordance with the Global Reporting Initiative (GRI^®) Standards: Core option.

Creating a Plastics Circular Economy
NOVA Chemicals is leveraging its expertise to design plastic resins and products to expand a market for recycled plastics, advance recyclable packaging designs, and help customers choose more sustainable options. In 2019, the company announced the development of seven new polyethylene ready-to-recycle resins that will help customers meet sustainability targets and drive demand for recycled content. These new resins enable reuse in applications such as stretch films, stand-up pouches, multipack collation shrink and heavy-duty sacks.

Along with industry associations and others, NOVA Chemicals is committed to making 100 percent of plastics packaging recyclable or recoverable by 2030; and 100 percent of plastics packaging re-used, recycled or recovered by 2040. Read the recent announcement to collaborate with Enerkem to capture the value of post-use plastic through advanced recycling innovations.

Global Citizenship
“Plastic is and will continue to be a valuable material that makes our lives healthier, easier and safer,” said Karran. “Plastic does not belong in the environment. We have a responsibility to address this challenge and, with others, we are taking action.” NOVA Chemicals is a founding member of the Alliance to End Plastic Waste™ and a strategic partner for Project STOP. “We are pleased to see exciting new developments as both organizations mature and collaborate to solve global challenges,” said Karran. In addition, NOVA Chemicals became the first Canadian based company to pledge to support Operation Clean Sweep^® Blue and strengthened its commitment to zero pellet loss.

As a responsible neighbor, NOVA Chemicals engages with its local communities and invests in organizations dedicated to making a difference and improving quality of life. In 2019, employees volunteered nearly 6,000 hours and made a combined contribution with the company to United Way^® totaling nearly $1.5 million (USD). Other significant corporate investments included $2 million (CAD) as Platinum Sustainability Sponsor for the 2019 Canada Winter Games and Red Deer College as well as a $2 million (CAD) investment in the NOVA Chemicals Health & Research Centre at Lambton College.  

Caring for the Climate
NOVA Chemicals reduced its greenhouse gas (GHG) intensity by four percent in last year five years. The company completed two capital projects that reduced its GHG emissions: a furnace revamp project that improves efficiency and an equipment improvement project that reduces steam demand. The combined impact of those projects is a total reduction of 110,000 tonnes of CO2e, equivalent to removing more than 20,000 cars from the road each year.  

Over the last decade, the company has reduced its GHG intensity by 12 percent, primarily resulting from the conversion of its ethylene manufacturing facility in Corunna, Ontario, to enable use of up to 100 percent natural gas liquids as feedstock as well as investments in other capital projects.   

Continuous Improvement in Operations
NOVA Chemicals is reducing the amount of waste that it produces, minimizing what is sent to landfill for disposal, and finding new value streams for the waste generated from its operations. In 2019, more than 27,000 tonnes of waste was diverted from landfill, which represents 58 percent of company-wide waste. Programs included recycling of concrete and waste polymer, energy recovery for waste streams with a high energy value, and reusing lime sludge as a soil amendment by local farmers. In addition, more than 4,000 tonnes of polyethylene scrap was recycled and used to make new plastic products.

NOVA Chemicals is a founding member of Responsible Care^®, the chemical industry’s commitment to improve health, safety, security, and environmental performance and continues its commitment today. In 2019, NOVA Chemicals achieved its lowest recordable injury rate in 10 years. This milestone was made possible by the individual commitment of each employee and reflects the belief that a workplace with zero injuries is possible.

Editors and Reporters: For more information, please visit NOVA Chemicals’ Media Center.

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About NOVA Chemicals Corporation
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to Sustainability and Responsible Care^®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.

Visit NOVA Chemicals on the Internet at www.novachem.com.

NOVA Chemicals Media Contact:
Jennifer Nanz
Director, Communications
E-mail: Jennifer.Nanz@novachem.com

NOVA Chemicals Investor Relations
Patty Masry
Leader, Financial Reporting & Investor Relations
E-mail: Patty.Masry@novachem.com

Alliance to End Plastic™ Waste is a trademark of Alliance to End Plastic Waste, Inc.
GRI^® is a registered trademark of Stichting Global Reporting Initiative.
NOVA Chemicals’ logo is a registered trademark of NOVA Brands Ltd.; authorized use.
Operation Clean Sweep^® is a registered service mark of Plastics Industry Association, Inc.
Responsible Care^® is a registered trademark of the Chemistry Industry Association of Canada
United Way^® is a registered service mark of United Way of Canada.

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