Neo Performance Materials Sustainability Profile
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 21 is lower than 63% 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 2022, Neo Performance Materials reported total carbon emissions of approximately 121,000,000 kg CO2e, comprising 14,788,000 kg CO2e from Scope 1 and 106,171,000 kg CO2e from Scope 2 emissions. This data reflects a significant operational footprint, with a revenue of about USD 640 million. The company has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions by 30% from 2021 levels by the year 2030. This target is part of a broader strategy to enhance transparency across its value chain and implement a robust greenhouse gas (GHG) reduction strategy. The reduction initiatives are currently in the planning stages, with a focus on developing new procurement policies and energy-efficient practices. In 2021, Neo Performance Materials reported total emissions of approximately 137,068,000 kg CO2e, with Scope 1 emissions at 21,828,000 kg CO2e and Scope 2 emissions at 119,240,000 kg CO2e. This indicates a need for ongoing efforts to meet their reduction targets effectively. The company is committed to achieving net neutrality by 2050, with specific strategies being developed for both Scope 1 and Scope 2 emissions. These initiatives underscore Neo Performance Materials' dedication to addressing climate change and reducing its environmental impact.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 21,828,000 | 00,000,000 |
| Scope 2 | 119,240,000 | 000,000,000 |
| Scope 3 | - | - |
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Neo Performance Materials's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Neo Performance Materials has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
