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MarketScreener Homepage  >  Equities  >  Nyse  >  Ecolab Inc.    ECL

ECOLAB INC.

(ECL)
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Ecolab : Joins the U.N. Global Compact's Business Ambition For 1.5⁰C

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12/05/2019 | 08:32am EST

Company’s goal is to reduce emissions by 50% by 2030 and to net-zero by 2050

Ecolab Inc., the global leader in water, hygiene and energy technologies and services, today announced that it will align its operations and supply chain to the U.N. Global Compact’s Business Ambition for 1.5⁰C, and will work to reduce its carbon emissions by half by 2030 and to net-zero by 2050. The company is committed to doing its part in limiting the rise of global temperatures to 1.5 degrees Celsius (2.7 F) or less above pre-industrial levels, the limit deemed necessary by the U.N. to avoid the worst consequences of climate change.

“Climate change demands urgent action, and it’s absolutely critical that we accelerate our efforts to mitigate its impact,” said Ecolab Chairman and CEO Douglas M. Baker, Jr. “We don’t yet have all the answers as to how we’ll get to net-zero carbon emissions, but business needs to come together and create forward momentum. That’s why Ecolab is committing to 1.5°C.”

To help meet its commitment, Ecolab will:

  • Move to 100% renewable energy in its global operations. In 2018, the company signed a virtual power purchase agreement that will cover 100% of its electricity needs in North America once the wind farm it is helping to finance comes online in 2020. Today, 99.4% of Ecolab’s electricity in Europe comes from renewable sources.
  • Expand energy efficiency projects at Ecolab plants, office buildings and operations around the world.
  • Move to electrify its fleet of service vehicles.
  • Work with supply chain partners to adopt similarly ambitious climate goals.

In addition to efforts within its own operations, Ecolab is helping companies throughout the world become more resilient to the impacts of climate change. Water scarcity is exacerbated by climate change, and in 2018, Ecolab helped customers conserve 188 billion gallons of water. Using water also takes a sizable amount of energy, and these water savings helped avoid 19 trillion BTUs of energy use and 1.1 million tons of greenhouse gas emissions.

“Water is the missing link in the climate debate,” said Emilio Tenuta, Ecolab vice president of Corporate Sustainability. “If the world economy made gains in sustainable water management, we’d be a significant step closer to a more climate-resilient world and cut our carbon emissions in the process.”

In its 2018 report, Global Warming of 1.5 °C, the U.N Intergovernmental Panel on Climate Change (IPCC) stated that, based on the best available science, a global temperature increase of 2 degrees Celsius (3.6 F) above pre-industrial levels is no longer deemed safe. To avoid the worst consequences of climate change, global warming must be capped at 1.5 degrees Celsius (2.7 F) or less, the IPCC stated.

The U.N. Global Compact, a group of more than 9,500 companies that are collaborating to foster more sustainable ways of doing business, launched the Business Ambition for 1.5⁰C in 2019 to spur companies to do their part in achieving this goal. As of Dec. 4, 2019, 140 companies have joined the Business Ambition for 1.5⁰C.

About Ecolab
A trusted partner at nearly three million customer locations, Ecolab (ECL) is the global leader in water, hygiene and energy technologies and services that protect people and vital resources. With annual sales of $15 billion and more than 50,000 associates, Ecolab delivers comprehensive solutions and on-site service to promote safe food, maintain clean environments, optimize water and energy use, and improve operational efficiencies for customers in the food, healthcare, energy, hospitality and industrial markets in more than 170 countries around the world. www.ecolab.com

Follow us on Twitter @ecolab, Facebook at facebook.com/ecolab, LinkedIn at Ecolab or Instagram at Ecolab Inc.

(ECL-C)


© Business Wire 2019
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Financials (USD)
Sales 2019 14 997 M
EBIT 2019 2 284 M
Net income 2019 1 578 M
Debt 2019 6 190 M
Yield 2019 0,95%
P/E ratio 2019 37,1x
P/E ratio 2020 30,8x
EV / Sales2019 4,22x
EV / Sales2020 4,05x
Capitalization 57 124 M
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Number of Analysts 22
Average target price 201,28  $
Last Close Price 198,18  $
Spread / Highest target 12,0%
Spread / Average Target 1,56%
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Managers
NameTitle
Douglas M. Baker Chairman & Chief Executive Officer
Christophe Beck President & Chief Operating Officer
Daniel J. Schmechel Chief Financial Officer & Treasurer
Larry L. Berger Chief Technical Officer & Executive VP
Anil Arcalgud Chief Information Officer & Executive VP
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