This week’s Newday spotlight is Owens Corning Inc. (NYSE:OC). Owens Corning is based in Toledo Ohio, and employs 19,000 people across 37 countries. The company develops, manufactures, and markets insulation, roofing, and fiberglass composites. In 2018, Owens Corning was recognized by the Dow Jones Sustainability Index as a highly sustainable company for the ninth straight year, and as the Industry Leader for the sixth year. Here are some of the ways that Owens Corning achieves its goals of being a top sustainable performer.
Owens Corning has set aggressive targets over the past 10 years with respect to its energy use, waste reduction, and resource use. Since 2010, the company consumed 20% less energy, with a 26% power intensity reduction. Additionally, Owens Corning achieved a 39% usage rate worldwide and a 56% usage rate in the US of renewable energy sources, such as wind, hydro, solar and geothermal.
The company continues to invest heavily in renewable energy as part of its plan to cut emissions. The company’s Fairburn, Georgia plant recently became home to a 1-megawatt solar project comprising nearly 3,000 photovoltaic panels. The project is expected to result in an estimated 1,054 metric tons of CO2 reduction during its first year of operation. Projects like these helped contribute to a 48% reported reduction against their 2020 Greenhouse Gas goal.
Owens Corning also has strong policies around water sourcing and use and has implemented monitoring and treatment processes tailored to sites at which they operate. Owens Corning performs analysis on water stress using the WBCSD Global Water Tool to understand their risk areas and develop steps for mitigation and management.