Company recognized for second consecutive year as a top stock for environmental, social and governance values
BOSTON--(BUSINESS WIRE)--Nov. 7, 2022--
Cabot Corporation (NYSE: CBT) announced it has been named to Investor’s Business Daily’s (IBD) 100 Best ESG Companies of 2022 list. The fourth annual list recognizes companies with superior environmental, social and governance (ESG) ratings in addition to strong fundamental and technical stock performance. Cabot moved up in ranking this year to No. 24 and is featured on the list for the second consecutive year.
The list honors overall leaders, as well as notes the top three companies in eight categories including Industrials, Technology, Energy, Electronics, Chemicals, Medical, Utilities and Consumer Staples. Cabot’s rating placed the company in the top three in the Chemicals category.
“At Cabot, we have a long record of ESG leadership and remain focused on bringing the power of innovative chemistry to help solve many of the world's sustainability challenges. We are honored to yet again be recognized by IBD for our longstanding focus on sustainability,” said Sean Keohane, president and CEO. “This sustainability commitment is central to our shared purpose and underpins Cabot’s ‘Creating for Tomorrow’ growth strategy as we leverage our strengths to lead in performance and sustainability. This commitment guides our actions and enables us to demonstrate continued value creation for our shareholders. By more fully integrating sustainability into our business, we believe that we can not only achieve our sustainability and business goals but do so while enhancing our long-term financial performance.”
To determine the 2022 100 Best ESG Companies list, IBD screened companies’ ESG sustainability score created by Dow Jones Newswires, an IBD affiliate. Dow Jones provided an ESG-scored list of over 2,200 U.S.-traded companies that it tracks. IBD reduced the list to 1,693 companies by removing non-public companies, companies whose stock prices were below $10 a share, and companies that lacked sufficient data to create an IBD Composite rating. IBD further qualified the list by cutting it to the top 15% of the 1,693 and selecting the 100 companies with the highest IBD Composite Rating, all of which had scores of 81 or better. Finally, the companies were then ranked by Dow Jones’ ESG Ratings.
Cabot has been a signatory to the UN Global Compact since 2015 and is committed to a broad set of 2025 sustainability goals that align with the company’s material topics. Cabot continues to demonstrate its ongoing commitment to protect the planet and further the company’s sustainability journey and recently announced its ambition to achieve net zero carbon emissions globally by 2050. Furthermore, Cabot has expanded its sustainability disclosures by developing a climate-related risks and opportunities matrix as a part of a climate scenario analysis in accordance with Task Force on Climate-Related Financial Disclosures (TCFD) guidance.
For more information about Cabot’s sustainability performance and initiatives, visit cabotcorp.com/sustainability.
ABOUT CABOT CORPORATION
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of rubber and specialty carbons, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the company’s website at cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
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Source: Cabot Corporation