HOUSTON, July 24, 2024 /PRNewswire/ -- Ascend Performance Materials' CEO Phil McDivitt spoke at the White House Super Pollutants Summit this week to tout the company's efforts in tackling greenhouse gas emissions and to advocate for a strengthened global voluntary carbon market.

During his remarks, Mr. McDivitt reaffirmed his company's goal of reducing scope 1 emissions by 90% by 2030 and committed to over 99% abatement of total nitrous oxide (N₂O), a greenhouse gas that is over 200 times more potent than carbon dioxide, from the company's operations.

"We fundamentally believe that reducing our emissions is the right thing to do and we are aggressively tackling it," said Mr. McDivitt. "Across the industry, more needs to be done to address emissions and companies need tools to help them accelerate their efforts."

One tool Mr. McDivitt advocated for was the voluntary carbon market. Ascend, through its partner ClimeCo and using a protocol developed by Climate Action Reserve, is using the voluntary carbon market to support its sustainability efforts. The company recently completed a project that abates over 99% of the N₂O emissions from its adipic acid production.

But more needs to be done. Mr. McDivitt cited a lack of trust in carbon credits due to limited oversight and guidelines, which have allowed high-profile instances of abuse. He pointed to the administration's recently published Voluntary Carbon Markets Joint Policy Statement and Principles as a step in the right direction.

"The voluntary carbon market allows for the funding of necessary, tangible reductions. It also allows industries with limited decarbonization options to set and meet goals while their technologies advance," said Mr. McDivitt. "For example, projects like ours, because the abatement is permanent, additional and subject to regular third-party audit, can help offset aviation emissions while low-carbon jet fuels become viable."

Ascend recently published its 2023 sustainability report, which highlights progress against the company's 2030 Vision.

About Ascend Performance Materials

Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels and Detroit, we are a fully integrated material solutions provider with global manufacturing facilities in North America, Europe and Asia. Our global workforce makes the materials used to make safer vehicles, cleaner energy, better medical devices, smarter appliances and longer-lasting apparel and consumer goods. We are committed to safety, sustainability and the success of our customers and our communities.

Learn more about Ascend at www.ascendmaterials.com.

Contact: Osama Khalifa, +1 832-963-1347,

okhali@ascendmaterials.com