Air Products Economic, Environmental and Social Efforts
For the thirteenth year running, Air Products (NYSE: APD) has won a spot on the Dow Jones Sustainability North America Index (DJSI) ranking. Based on long-term economic, environmental, and social criteria, the 2022 DJSI ranks Air Products among the top 20 percent of North American businesses in its industry group.
Simon Moore, Vice President of Investor Relations, Corporate Relations, and Sustainable at Air Products, stated that it is an honour to once again get recognition from DJSI for our sustainability efforts. “Air Products’ long-standing commitment to sustainability, which is at the core of everything we do, is illustrated by inclusion in the DJSI for a number of years. At Air Products, sustainability is key to our growth strategy. In order to accelerate the energy transition, we agreed to invest at least $15 billion last year in large-scale clean energy projects. We also set targets to lower our CO2 emissions intensity and achieve net zero emissions in our operations by 2050.
In 2022, Air Products announced plans for two green hydrogen facilities, one in Massena, New York, to manufacture green liquid hydrogen at a rate of 35 metric tonnes per day, and the other in Wilbarger County, Texas, where a joint venture with AES would invest around $4 billion. These two new projects are in addition to the other hydrogen megaprojects that Air Products is currently working on both domestically and internationally. In order to deliver green hydrogen to Europe, Air Products is also collaborating with a number of ports.
The DJSI are market capitalization weighted float-adjusted indices that assess the performance of businesses chosen based on environmental, social, and governance (ESG) factors. The DJSI indexes use a transparent, rules-based constituent selection process based on the firms’ annual S&P Global Corporate Sustainability Assessment results, specifically their S&P Global ESG Score (CSA). The S&P Global CSA, which consists of a demanding questionnaire examining both public and non-public data given by participating firms, was opened to more than 10,000 publicly traded companies this year.
Air Products was additionally recognised by Forbes in 2022 as one of America’s Best Employers for Diversity and was included on Barron’s 100 Most Sustainable Companies List for the fourth consecutive year. Air Products was listed in the Corporate Equality Index of the Human Rights Campaign Foundation and received a gold medal grade for its Corporate Social Responsibility (CSR) performance from EcoVadis, a global CSR ratings firm, for the fifth consecutive year.