Eastman Named to Fortune Magazine's List of Companies That Changed the World

Eastman (NYSE: EMN) was named No.
21 on Fortune's 2021 list of companies that "change the world
.
" The list recognizes companies that have made a positive social impact through their core business strategy activities
.
Eastman was honored for demonstrating the power to change the world with its advanced recycling technology to process hard-to-recycle plastics and reduce its own carbon footprint
.

"We are delighted to be recognized by Fortune, and this honor is consistent with the core goals that Eastman has always pursued,
" said Eastman Chairman and Chief Executive Officer Mark Costa.
Reduce material waste and protect the planet, while providing sustainable solutions that improve the quality of life for people around the world
.
"

"Measurable social impact" is a key factor in Fortune's assessment of corporate impact
.
Based on this factor, Fortune's editors and writers develop the list by assessing "the extent, nature, and persistence of a business in one or more specific social issue areas.

"

Eastman was named to the list of companies "changing the world" for its advanced recycling technology, which processes hard-to-recycle plastics before they end up in landfills, incineration or discarded directly into the environment
.
Eastman has committed to recycling more than 250 million pounds (about 113,000 tons) of waste plastic annually by 2025, and more than 500 million pounds (about 230,000 tons) of waste plastic annually by 2030
.

With advanced recycling technologies, Eastman not only provides tangible solutions to the global plastic waste crisis, but also helps mitigate climate change
.
Compared with traditional plastic production processes, molecular recycling technology can reduce greenhouse gas emissions by 20% to 50%
.
Eastman is committed to achieving carbon neutrality by 2050 and one-third of its goal by 2030, and innovative technologies are critical to achieving that goal
.

Fortune's authors and editors evaluate companies based on four factors, in addition to measurable social impact, performance, level of innovation and corporate integration
.
The Shared Value Initiative, a group of global leaders seeking business solutions to societal challenges, also supported Fortune in developing the list
.
This year marks the seventh year that the magazine has released its list of "changing the world" companies
.

Eastman is building the world's largest polyester molecular recycling facility in Kingsport, Tennessee, with mechanical completion expected in late 2022
.
Eastman's sustainable development strategy aims to build a "more optimized cycle system", and molecular recycling technology is an indispensable key element
.
In order to improve the global environment, Eastman put forward the concept of "more optimized circulation system" and released the sustainability report of the same name in December 2020
.