To our valued stakeholders,
For decades, sustainability has been strategically embedded in how we do business. Today, it's a key component of our enterprise growth strategy and the value we provide to our stakeholders. From operating safe and healthy facilities and advancing equity in our company and communities, to developing sustainable products and solutions that further our customers' sustainability ambitions, PPG is committed to delivering positive impact through our continued focus on meeting our environmental, social and governance (ESG) commitments.
In 2022, we continued to make strong progress against our ESG strategy while reporting measurable improvements in key priority areas. We delivered continued improvement against our 2025 sustainability and diversity, equity and inclusion (DE&I) targets, furthered our work to understand our value chain emissions footprint, and determined priority emissions reduction pathways. We also conducted a prioritization assessment to define focus areas based on their capacity to impact people, the economy and the environment, while identifying risks or opportunities that may disrupt or support growth. The key findings of our prioritization assessment, which are included in this report, were the foundation that informed our 2030 ESG targets and will help guide our actions moving forward.
Our new, ambitious 2030 sustainability targets further our focus on decarbonization and challenge us in the areas that are most impactful to our business and our stakeholders. Our 2030 objectives include scope 1, 2, and 3 greenhouse gas emissions targets, which have been validated according to climate science through the Science Based Targets initiative (SBTi). These targets will provide a clear pathway to a low carbon future, aligning with the Paris Agreement and the emissions reductions required for a 1.5 degrees C future for our scope 1 and 2 greenhouse gas emissions and a well below 2 degrees C future for our scope 3 emissions. With validated science-based targets, we plan to invest additional resources to support an ambitious and consistent reduction in emissions from our own operations (scope 1 and 2). We are also planning to devote additional funding to renewable energy sources and identifying cleaner energy solutions. Our efforts to reduce greenhouse gas emissions across our value chain will include evaluating more circular and renewable raw materials, collaborating with suppliers to lower their emissions footprint, and innovating new lower carbon solutions for our customers.
To support our enterprise growth strategy and commitments, we have continued to integrate ESG throughout PPG. In 2022, we assembled a global sustainability organization that is embedded within our businesses and functions in order to educate, motivate and activate the organization to deliver on our sustainability ambitions. We are also further integrating ESG into our business strategies and objectives. By placing emphasis on sustainability in our core business strategy planning, we are able to be better informed of our customer priorities, and use them as a guide to reach our 2030 targets. We remain focused on delivering against the sustainability needs of our customers and are building a pipeline of sustainable solutions to meet changing customer demands. As we deliver against our targets in the coming years, we are committed to engaging stakeholders across our value chain and transparently reporting on our progress.
Thank you for reading our 2022 ESG Report. We look forward to sharing additional progress and welcome your feedback and collaboration.
Diane Kappas
PPG vice president, global sustainability