Neo Performance Materials
Neo Performance Materials Inc., headquartered in Canada, is a leading player in the advanced materials industry, specialising in the production of rare earth and magnetic materials. Founded in 2015, the company has rapidly established itself with significant operations across North America, Europe, and Asia, focusing on sectors such as electronics, automotive, and renewable energy. The company’s core offerings include high-performance magnets, rare earth alloys, and advanced materials that are essential for various high-tech applications. What sets Neo Performance Materials apart is its commitment to sustainability and innovation, ensuring that its products meet the evolving demands of modern industries. With a strong market position, the company has achieved notable milestones, including strategic partnerships and expansions that enhance its global footprint and technological capabilities.
DitchCarbon Score
How does Neo Performance Materials's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Chemicals industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Neo Performance Materials's score of 23 is lower than 62% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Neo Performance Materials's reported carbon emissions
In 2023, Neo Performance Materials reported total carbon emissions of approximately 126,029,000 kg CO2e, comprising 17,149,000 kg CO2e from Scope 1 and 107,880,000 kg CO2e from Scope 2. This marks a slight increase in Scope 1 emissions from 14,751,000 kg CO2e in 2022, while Scope 2 emissions rose from 106,171,000 kg CO2e in the previous year. The company has set ambitious targets to reduce its carbon footprint, aiming for a 30% reduction in both Scope 1 and Scope 2 emissions from 2021 levels by 2030. This translates to a target of reducing Scope 1 emissions to about 14,177,000 kg CO2e and Scope 2 emissions to approximately 75,000,000 kg CO2e by the end of the decade. Additionally, Neo Performance Materials is committed to achieving net neutrality by 2050, with ongoing initiatives to enhance transparency across its value chain and implement energy-efficient practices. Overall, Neo Performance Materials is actively working towards significant GHG reduction goals, demonstrating a commitment to addressing climate change and improving sustainability within its operations.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 20,311,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 117,275,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Neo Performance Materials is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
