Owens Corning Publishes 2023 Sustainability Report

Owens Corning (NYSE: OC) today published its 2023 Sustainability Report, Making the Difference, outlining the company’s progress toward its 2030 sustainability goals.

“Owens Corning demonstrated outstanding financial and sustainability results in 2023, showcasing the power of our company’s mission to build a sustainable future through material innovation,” said Board Chair and Chief Executive Officer Brian Chambers. “This report reflects the global scope of our people and our products and the many ways they work to make the world a better place.”

This marks the 18th sustainability report from Owens Corning, which published its first report in 2006.

“Our 2030 sustainability goals are growing ever closer, and we believe that the targets we have set for ourselves are well within our reach,” said David Rabuano, senior vice president and chief sustainability officer. “This confidence is the result of our employees’ unparalleled engagement and enthusiasm for our mission coupled with our investments in the innovation required to execute new solutions.”

Notable accomplishments outlined in this year’s report include:

• Product innovation: Across all its businesses, Owens Corning offers an extensive portfolio of products that can help customers save energy and lower emissions. In 2023, 59% of the company’s revenue came from this category of products. In addition, 14 products are certified as made with 100% renewable electricity. These products make up 25% of the company’s total revenue.
• Reducing greenhouse gas emissions: The company achieved a 28% reduction in Scope 1 and 2 emissions from a 2018 baseline. These results move Owens Corning closer to its goal of a 50% reduction in absolute Scope 1 and 2 market-based GHG emissions by 2030.
• Circular economy: The company made progress toward its efforts to recycle two million tons of shingles per year in the U.S. by 2030. In late 2022, the company and its partners launched an asphalt shingle recycling pilot program developed to deconstruct residential and industrial waste shingles and extract their component materials. In 2023, the facility successfully achieved shingle deconstruction, extracting asphalt, granules, and filler. The process is designed to reclaim the entire shingle to avoid any components of the product going to waste.
• Waste: In 2023, Owens Corning reduced the amount of waste sent to landfills by 14% compared to a 2018 baseline. The company is working to develop capabilities for reducing, recycling, and diverting its waste streams, both internally and with external partners. To accelerate internal recycling capabilities, the company built its first Circular Economy Recycling Technology Innovation Laboratory at our Science & Technology Center in Granville, Ohio, U.S.
• Employee safety: In 2023, the company’s recordable incident rate was 0.60, which is 81% below the industry average, as reported by the U.S. Bureau of Labor Statistics.
• Inclusion and diversity: Representation is on-track to meet 2030 goals for women and people of color in leadership roles, with improvement in representation deeper in our talent pipeline for women and people of color.

The report was prepared in accordance with the Global Reporting Initiative (GRI) Standards. In addition, the report addresses disclosures and material issues related to CDP (formerly the Carbon Disclosure Project), the S&P Global Corporate Sustainability Assessment (CSA) and Dow Jones Sustainability Index (DJSI), the United Nations Sustainable Development Goals (SDGs), UN Global Compact Communication on Progress, and other stakeholders’ requests, including the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-related Financial Disclosures (TCFD).