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July 07, 2022 08:26 AM

Nova working toward big ESG goals

Frank Esposito
Senior Staff Reporter
Plastics News Staff
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    Nova-cyclyx_i.jpg
    Nova Chemicals
    Nova Chemicals joined  Cyclyx International, a consortium-based supply chain for recycled plastics, earlier this year.

    Efforts to build a circular economy for plastics are included in Nova Chemicals Corp.'s 2021 Environmental, Socials and Governance (ESG) report.

    The report also focuses on Calgary-based Nova's work to advance its inclusion and diversity strategy and to find solutions for industrial decarbonization. The firm is a major North American supplier of polyethylene resin and related materials

    "This year's report details how we are integrating our ESG priorities into how we do business — from how we engage our people, to how we make our facilities safer and higher performing, to how we prepare for a future with less carbon and more recycled plastic," said Luis Sierra, president and CEO.

    Officials said that even in the middle of supply chain challenges, weather events and energy market dynamics, Nova delivered sector-leading business results in 2021 and made progress in several key areas of its ESG strategy.

    In circularity, Nova in 2021 entered three collaboration agreements to supply recycled polyethylene resins to its customers, began railcar shipments of recycled PE and introduced next-generation moisture barrier resin to expand the recyclability of food packaging applications.

    To build an agile, high-performing team of employees who feel they belong, are engaged and represent the communities in which we live and work, the firm created its first-ever employee Inclusion and Diversity Council in 2021. Nova also set new targets for hiring and engagement practices.

    By the end of 2030, Nova wants to reach:

    • A 10 percent increase in diversity across all levels of the organization from 2020.

    • A 30 percent representation of women across all levels of the organization.

    • Hit a 5 percent increase in representation of people of color in leadership from 2020.

    • See a 10 percent increase in women in leadership from 2020.

    In safety, Nova plans to reach "Goal Zero" (zero injuries and incidents) by ensuring safety is embedded in all processes and programs. In 2021, the firm achieved strong safety performance with a 0.27 combined employee and contractor recordable injury rate. This was accomplished in a year of significant construction activity as the company made progress toward the completion of construction on two new facilities.

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