Tronox Holdings plc, the world’s leading integrated manufacturer of titanium dioxide pigment, announced that its Board of Directors had reorganized its committee structure to enhance the Board’s oversight over environment, sustainability and governance (“ESG”). Under the new structure, the Governance Committee will become the Governance and Sustainability Committee with a restated committee charter that will require management to regularly report on its progress on key ESG initiatives. The enhanced Board oversight comes on top of other significant ESG-related improvements made by Tronox, including the announcement in its most recent Sustainability Report of a detailed plan to align with a global warming scenario below 2° C and achieve net zero GHG emissions by 2050; inclusion of carbon emission reduction targets in its executive compensation programs; and a commitment to be fully compliant with applicable TCFD and SASB disclosure standards when it releases its 2021 sustainability report.
Melissa Zona, Tronox’s Senior Vice President, External Affairs and Chief Sustainability Officer, commented, “The Board’s decision to enhance its oversight of ESG demonstrates clearly that Tronox understands the importance our customers, employees and investors place on sustainability. From the Boardroom to every control room, Tronox is actively progressing ESG, integrating it in all aspects of our business, especially when it comes to setting meaningful targets to reduce our carbon emissions, water and energy usage, and seeking opportunities to reuse our waste within a circular economy.”
Ilan Kaufthal, the Chairman of Tronox’s Board of Directors, who also chairs the new Governance and Sustainability Committee, commented, “The Tronox Board understands the trust our shareholders have placed in us to create long-term shareholder value. We see ESG as essential to that mission. The Governance and Sustainability Committee will enable us to better exercise our Board oversight responsibility related to ESG and hold management accountable to achieve the metrics for carbon and other waste reduction described in our sustainability report.”
https://www.tronox.com/tronox-reorganizes-board-committee-structure-to-enhance-esg-oversight/