Dow’s partnership with the IOC reaches GHG emission reductions target
Dow announced that its carbon partnership with the International Olympic Committee (IOC) has delivered on the goal of two MM tons of third-party verified CO2e emission reductions by end of year 2021, five years ahead of the original 2026 goal year.
Dow was named the official carbon partner of the IOC in 2017 and has since developed a portfolio of global carbon mitigation projects based on Dow’s technology for the built environment, packaging and industrial processes, combined with carbon offsets from high quality external projects. The objective was to balance the IOC’s direct and indirect carbon emissions during the period of 2017-2020, while generating long-term carbon savings in different industry sectors well beyond that period. Altogether, the collaboration’s resulting emissions are expected to leave a positive climate legacy.
Dow’s 10-year participation in the olympic partner program as well as its tenure as the official carbon partner of the IOC concluded at the end of 2021.
“Dow has collaborated with the Olympic Movement for more than 40 years. Looking back at that history, it's clear that sport is about so much more than competition; it's about the wider impact it can have,” said Mike Reed, Vice President of Sports Marketing Solutions, Dow. “These carbon programs implemented through sport harnessed the power of science-based solutions and inspired tangible action among Dow’s customers to spark change for decades to come. This journey to go beyond business as usual is a prime example of how aligned goals among diverse organizations can bring about a better future.”
Environmental Resources Management provided third-party verification of GHG emission reductions against the Dow climate solutions framework.
“The range and reach of work stemming from our partnership with Dow has enabled us to reach carbon neutrality by compensating our residual 2017-2020 direct and indirect emissions,” said Marie Sallois, IOC Director of Corporate and Sustainable Development. “As one of the most comprehensive carbon mitigation efforts in the history of the IOC and the Olympic Games, this collaboration with Dow has been an important element of our sustainability strategy, creating a lasting legacy beyond the sports world.”
In addition to the Company’s carbon partnership with the IOC, Dow’s collaborations with the broader Olympic Movement have brought new levels of science and innovation to multiple high-carbon industries through more than 20 carbon mitigation projects in over 12 countries, including those completed in conjunction with the Sochi 2014 and Rio 2016 Olympic & Paralympic Organizing Committees. Together, these collaborations have delivered third-party verified emission reductions of more than 6 MM tons of CO2e since launched.
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