Dow Inc

Commodity Chemicals

DOW

$ 52 1.2

Share price

$ 36 bn

Market Cap

$ 49 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

20x the weighted average for S&P 500

FY2021

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -8% weighted average for S&P 500

FY2022

Dow Inc aims to reduce Scope 1 + 2 by 15% by 2030 from a base year 2020

This target has not been verified as science based according to SBTi

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.5% weighted average for S&P 500

FY2022

Dow Inc aims to achieve carbon neutrality for all Scopes by 2050

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Dow Inc reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 33,970 Kt (-590 /-1.7% y-o-y). Also positively, carbon intensity tumbled to 618 t (-279 /-31.1% y-o-y).

Dow Inc's Scope 3 emissions grew to 77,640 Kt (+8,380/+12% y-o-y). The performance has been erratic recently.

The company is committed to reducing Scope 1 + 2 by 15% by 2030 from a base year 2020, which translates into the estimated reduction of -510 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Also, the company commits to achieving carbon neutrality for all Scopes by 2050, which translates into the estimated reduction of -3,849 Kt per annum over the period of FY2022 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Dow Inc aims to achive carbon neutrality across its entire value chain (all Scopes) in 2050. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2021Q4	33,970	28,290	5,680	77,640	54,968	618
2020Q4	34,560	28,200	6,070	69,260	38,542	897
2019Q4	33,780	27,200	6,580	91,400	42,951	787
2018Q4	35,060	26,600	6,660	69,163	49,604	707
2017Q4	34,400	25,600	8,800	75,700
2016Q4	34,900	25,600	9,300	75,900