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Climate Change
2003 saw additional progress in the implementation of the Climate Change Strategy adopted in 2001. Internal mechanisms and expertise continued to develop, as did evidence that climate change is becoming an integral part of business decision-making. Specific progress in 2003 included:
Technology
Another milestone was achieved with the announcement in May of a collaboration with General Motors (GM) on what is the largest hydrogen fuel cell deal to-date.
Business Integration
In 2003, Dow established an Emissions Strategy Board to allow for better alignment of emissions objectives, synchronization of efforts, and optimization of resource use across the Company. The new Board will also provide the foundation for future business opportunities such as trading of greenhouse gas credits, regulatory interaction, and emission-related investment opportunities.
New Products
WOODSTALK™ fiberboard building material product was certified as a “Climate Cool Product” by The Climate Neutral Business Network. As mentioned in our 2002 report, WOODSTALK building material is a fiberboard material made from wheat straw and a formaldehyde-free resin. Traditionally, wheat straw was burned in the field after wheat was harvested. But instead of burning, the straw is gathered and manufactured into a material similar to particleboard. Like particleboard, it can be used in building construction and it has superior properties for cabinet or furniture manufacturing. But WOODSTALK building material is not just carbon neutral. It actually reduces the amount of greenhouse gases introduced into the atmosphere and preserves trees that would otherwise be cut down for lumber.
Greenhouse gas emissions are reduced significantly and the reductions are real and permanent. Because of WOODSTALK building material, 240,000 tons of carbon dioxide (CO2) is not released into the atmosphere as a result of yearly wheat straw burning. Additionally, another 250,000 tons of CO2 per year are saved due to forest sequestration. The trees not harvested as building materials remain in the ground, absorbing CO2. This savings is conservatively estimated as the same as removing 54,000 cars from the road every year. WOODSTALK building material is a demonstration that Dow products and technology provide significant solutions to the climate change challenge.
Stakeholder Involvement
In 2003, Dow continued to publicly describe its climate change efforts, conduct dialogue with a variety of stakeholder groups, and submitted information about its climate change activities to socially responsible investor groups. For example, in November 2003, The Carbon Disclosure Project, a group of 87 institutional investors with assets of over $9 trillion under their management, published a report, which said, "Dow Chemical, in particular, stands out as a sector leader. Dow is managing the issue via a four-pronged strategy, which covers technology, business integration, new products, and stakeholder involvement. Implementation is spearheaded by a multidisciplinary Climate Change Opportunity Management Team."
While we are working to improve our greenhouse gas emissions (GHG) data collection, and have done our utmost to ensure the quality of the data, we acknowledge that there may be some inaccuracies as a result of limited availability of some historical data.
As we refine our reporting tools, we will update the emissions data and be transparent about our assumptions and guidelines. Also, we are working with external stakeholders to bring our GHG data in line with generally accepted reporting protocols.
Greenhouse Gas Emissions
Greenhouse Gas Intensity
WOODSTALK™ is a trademark of Dow BioProducts
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