WASHINGTON (dpa-AFX) - Westlake Corporation (WLK) announced progress toward its goal of reducing carbon emissions intensity by 20% by 2030, compared with 2016 levels.
The company has entered a multi-year agreement tied to a three-farm solar project generating about 160,000 megawatt-hours of renewable energy annually and purchased the related renewable energy certificates - RECs to offset its electricity use.
Tim Hunt, Vice President of Corporate Development and Sustainability, said incorporating RECs strengthens Westlake's emissions reduction strategy, supports customers in meeting their own sustainability targets, and promotes renewable energy growth. Westlake is also assessing how to integrate RECs into its downstream product offerings.
Monday, WLK closed at $83.28, down 0.83%, and is trading after hours at $83.72, up 0.53% on the NYSE.
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