- With Verdium, customers can verify carbon reduction for recycled PGM purchases, including PGMs attributed to select end products
- One kilogram of Verdium recycled metal saves over thirty metric tons of carbon1
- UL Solutions provides independent, third-party validation of the physical chain of custody and mass balance accounting
ISELIN, N.J., Dec. 18, 2023), a global leader in precious metal services and catalysis, today launched Verdium, a new approach to recycled metal based on mass balance. Recycled (secondary) PGMs are essential to the supply of platinum, palladium and rhodium, critical minerals used in catalysts, and can lower carbon emissions by up to 97 percent in comparison to mined (primary) materials. One kilogram of Verdium saves over thirty metric tons of carbon, enabling customers to verify their carbon reduction, track progress to their sustainability goals and help lower their Scope 3 emissions.
Verdium has been independently validated by UL Solutions, a leading global safety science company acting as an independent third party, to its mass balance chain of custody (CoC) standard UL 2809-1, the Environmental Claim Validation Procedure for Defined Source Content, which is in accordance with CoC design and models specified in ISO 22095. The validation process includes annual CoC audits and site visits by UL Solutions.
"Independent validation by UL Solutions is a testament to our recycled metal approach that sets the standard in the PGM space," said Tim Ingle, Senior Vice President, Precious Metal Services and Recycling, ECMS. "It also brings transparency to the PGM value chain, enabling customers to track carbon reduction with accuracy and confidence."
Verdium will be available to Europe and U.S.-based PGM customers starting in January 2024. Customers will receive the same quality recycled metal from ECMS, but with Verdium, they can verify their carbon reduction. Documented verification will confirm the amount of recycled metals purchased and applied to select end products, which can be traced to a concrete carbon metric.
"We have long been a leader in advancing circularity and sustainability through our metals expertise," said Dirk Bremm, President and CEO, ECMS. "Recognizing the pressing demand for tangible sustainability progress, we worked in close consultation with our customers to design Verdium as a traceable, audited solution that helps customers make measurable strides toward their goals."
"We commend ECMS for their carbon reduction efforts. We hope the UL certification of Verdium will help pave the way for ECMS and its customers to achieve their environmental goals and a more sustainable future for all," said Josh Warren, Vice President and General Manager of the Retail and Consumer Product group at UL Solutions.
1Sphera Solutions GmbH (2022): GaBi Database Edition 2022, SP37
About BASF Environmental Catalyst and Metal Solutions
Leveraging its deep expertise as a global leader in catalysis and precious metals, BASF Environmental Catalyst and Metal Solutions (ECMS) serves customers in many industries including automotive, aerospace, indoor air quality, semiconductors and hydrogen economy, and provides full loop services with its precious metals trading and recycling offering. With a focus on circular solutions and sustainability, ECMS is committed to helping our customers create a cleaner, more sustainable world. Protecting the elements of life is our purpose and this inspires us to ever-new solutions. ECMS operates globally in 15 countries with over 4,500 employees and 20 production sites.
| Media Relations contact Betsy Arnone Phone: 973-519-9808 Betsy.arnone@basf-catalystsmetals.com | BASF ECMS 25 Middlesex Essex Turnpike Iselin, NJ 08830 www.basf.com/ecms (http://www.basf.com/ecms) |
