By focusing on sustainability, organic growth and strategic acquisitions, Hempel grew its revenue to €1.8 billion in 2021.
“Putting sustainability at the heart of how we do business is the right thing to do and the smart thing to do. To win key customers, we must deliver solutions and develop partnerships that answer to their sustainability challenges”, said Lars Petersson, Group President & CEO of Hempel.
In February 2021, the company introduced Futureproof, a comprehensive framework and guide for embedding sustainability throughout the Hempel business. Futureproof lays out measurable Environmental, Social & Governance (ESG) goals, including CO2 reduction targets.
In November 2021, Hempel submitted its CO2 reduction targets, in line with a 1.5°C pathway, to be independently verified by the Science Based Targets initiative and expects validation in 2022. One such example is its new strategic partnership with GRI Renewable Industries, which will see it drive sustainability and cost improvements in wind tower production.
The company also saw increased demand for its more sustainable products last year, including its advanced hull coatings. In 2021, Hempel’s hull coatings helped marine customers reduce CO2 emissions by 4.5 million tonnes, up from 3.6 million tonnes in 2020.
Hempel aims to increase this to 5.5 million tonnes in 2022.