To our valued stakeholders,
I am excited to share our achievements and progress toward our 2030 commitments in our 2024 Sustainability Report. Sustainability is core to our purpose, and a key enabler that supports our enterprise growth strategy. It is embedded in how we do business and enables growth by innovating sustainably advantaged solutions to meet our customers' ambitions.
For more than 140 years, customers have relied on PPG to help them meet evolving needs. Our paints, coatings and specialty products offer improved performance, value and productivity. These sustainable attributes enable competitive advantages in the marketplace and support operational excellence for both our customers and PPG. As an example, we recently introduced PPG SIGMAGLIDE™ 2390 coating, a breakthrough innovation that has helped shipowners lower fuel consumption and carbon emissions while at sea and increase the paint process productivity in drydock. This biocide free coating enables vessels to maintain a clean hull and reduce drag, achieving power savings of up to 20% and up to 35% reduction in CO2 emissions in comparison to traditional antifouling coatings.* During the painting process, electrostatic application increases the transfer efficiency, reducing the waste generated by up to 40%.
Throughout 2024, we also supported the communities where we operate and delivered value for shareholders, while working to optimize our business portfolio. The divestitures of both our silica products and our architectural coatings U.S. and Canada businesses in 2024 allow us to focus our business portfolio and improve our financial profile, including higher operating margins. Throughout this report, we have adjusted our reporting to exclude the divested businesses back to our 2019 baseline.
Within PPG, we have a longstanding commitment to operational excellence and our sustainability targets support our continuous reductions in waste, water and energy use. Through our decarbonization initiatives, we achieved an 18% reduction in scope 1 and 2 greenhouse gas emissions from our 2019 baseline, progressing toward our validated science based target of 50% reduction by 2030. We also achieved a 6% reduction in scope 3 emissions across purchased goods and services, customer processing of sold products, and end-of-life treatment of sold products.
We also engage with our suppliers to identify more sustainable feedstocks and reduce the environmental impacts of the materials used in our products. PPG's procurement teams are committed to responsible sourcing throughout our value chain, and assessed 98% of our key suppliers against sustainability and social responsibility criteria.
As we move forward, we will remain focused on our core sustainability priorities that will enable our business strategy: accelerating our transition to sustainably advantaged solutions, reducing our environmental footprint across our value chain, and protecting and beautifying the communities where we live and work.
Thank you for your continued trust and interest in our journey toward a more sustainable future.
Peter Votruba-Drzal
PPG vice president, global sustainability
*Actual performance will depend on ship model and operating conditions.