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 71% 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 kg CO2e, comprising 17,149 kg CO2e from Scope 1 and 107,880 kg CO2e from Scope 2. This reflects a continued commitment to reducing their carbon footprint, with significant reductions noted from previous years. In 2022, emissions were about 121,922 kg CO2e, while in 2021, they were approximately 137,586 kg CO2e. Neo Performance Materials has set ambitious targets to reduce its emissions by 30% from 2021 levels by 2030 for both Scope 1 and Scope 2 emissions. This commitment is part of a broader strategy to achieve net neutrality by 2050, which includes implementing energy-efficient practices and enhancing transparency across their value chain. The company is actively working on a robust greenhouse gas (GHG) reduction strategy, with initiatives aimed at improving procurement policies and operational efficiencies. These efforts underscore Neo's dedication to addressing climate change and contributing to a sustainable future.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 20,311 | 00,000 | 00,000 |
| Scope 2 | 117,275 | 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.
