Grade summary

Air Products & Chemicals is this year’s runner-up in ChemScore, scoring one point more than in 2021. The company “only” produces one hazardous substance — carbon monoxide — but does not, however, have any plans of phasing it out. The company claims that carbon monoxide is an important building block for many industries and that it is difficult to substitute. At the same time, Air Products has methods in place to assess the environmental sustainability of its products (including a systematic hazard screening) and markets some safer alternatives on ChemSec’s Marketplace. The company has also decreased its amount of hazardous waste and is awarded points for circular processes. However, a circular economy policy and strategy is missing, as well as clear and timed targets. Air Products has had a couple of accidents in the past, resulting in environmental penalties of over half a million USD during the past ten years.

How did we come to this score?

Opportunities for improvement

1. Increase circularity
   Air Products receives four points for having some circular processes — oil recycling and carbon capture and storage — incorporated into its business. But this is not enough. The company lacks a clear policy and strategy for circular economy, as well as quantifiable indicators to follow the progress.
2. Produce or use recycled feedstock
   The chemical industry finds itself at the beginning of the value chain, therefore it has a responsibility to act fast and ambitious against the ever-growing scarcity of our planet’s resources. With this in mind, reusing materials and resources is imperative in order to increase resource efficiency. Air Products claims that it recycles a significant amount of grey water. Although a positive thing, it does not meet our criteria for using or producing recycled feedstock. This is an aspect where the company can improve.
3. Report on the EU taxonomy
   Even though Air Products’ company headquarter is located in the United States, we would like to see an attempt from the company to include reporting on EU taxonomy. This legislation is valid for all companies that are held by European investors or receive loans from European banks. To include reporting on EU taxonomy would be very beneficial for Air Products and investors alike.

Category breakdown