PR86948

KINGSPORT, Tenn., Dec. 1, 2020 /PRNewswire=KYODO JBN/ --

-- Materials innovator releases 2020 sustainability report and announces 2030 commitments

Eastman (NYSE:EMN) (https://c212.net/c/link/?t=0&l=en&o=2995713-1&h=692593697&u=https%3A%2F%2Fwww.eastman.com%2FPages%2FHome.aspx&a=Eastman )

announced ambitious 2030 sustainability commitments Tuesday in tandem with

the publication of its 2020 sustainability report. The report highlights the company's

commitment to sustainable innovation and establishes goals to address three difficult,

long-term and potentially devastating challenges that will affect our rapidly growing

population: climate change, the plastic waste crisis and social inequities.

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"Through process, systems and material innovations, we can create solutions

that help to solve the climate and plastic waste crises while introducing

products to market to care for an ever-growing population," said Mark Costa,

Eastman Board Chair and CEO. "We think of it as innovating for A Better Circle."

As a materials innovator, Eastman is uniquely positioned to address these

challenges and to help create solutions that serve everyone. Through this

Better Circle approach, the company intends to:

Mitigate climate change

Eastman has a responsibility to continuously improve its operational footprint.

The company supports the Paris Agreement and in alignment with it, Eastman is

committing to achieve carbon neutrality by 2050.

2030 commitment:

    -- Reduce absolute greenhouse gas scope 1+2 emissions by one-third by 2030

       to achieve carbon neutrality by 2050.

    -- Innovate to provide products that enable energy savings and greenhouse

       gas emissions reductions down our value chains and at the consumer level.

Mainstream circularity

Eastman is contributing to a circular economy. For Eastman, that means keeping

plastic waste out of landfills and the environment through recycling innovations

that convert waste to materials thereby reducing the use of fossil feedstocks.

2030 commitments:

    -- Recycle more than 500 million pounds of plastic waste annually via

       molecular recycling technologies, with a 2025 commitment to recycle more

       than 250 million pounds of plastic waste annually through these technologies.

    -- Catalyze improvement of the recycling system by continuing to expand

       capabilities to recycle more complex products and by participating in

       initiatives and collaborations to drive increased collection.

Care for society

Eastman's business begins and ends with people. By working from the inside out

to ensure its employee population mirrors the world's population in its diverse

make-up and aligning its external partnerships and support with its key impact

areas, Eastman will contribute to creating a more equitable society.

2030 commitments:

    -- Achieve gender parity in alignment with commitment to Paradigm for Parity(R).

    -- Be a leader for racial equity within our industry.

    -- Drive new product innovations that advance soutions for society's most

       pressing needs while ensuring product safety and transparency.

As part of the company's dedication to achieving its 2030 commitments, Eastman

has released its 2020 sustainability report. The report is a transparent look

into progress the company made on its 2020 goals and a roadmap of how it

intends to achieve its 2030 agenda.

"Our sustainability strategy builds on the progress we achieved in pursuit of

our previous targets," Costa said. "We have gained crucial insights into how

sustainability paired with innovation will drive our transformation to a

specialty materials company, and we are committed to advancing both

environmental and social practices across our corporation and within our

communities, reporting our progress annually."

The company's 2020 sustainability report is available now. To view the full

report and learn more about Eastman's 2030 commitments to creating A Better

Circle, visit eastman.com/sustainabilityreport (https://c212.net/c/link/?t=0&l=en&o=2995713-1&h=2335181602&u=https%3A%2F%2Fwww.eastman.com%2Fsustainability&a=eastman.com%2Fsustainabilityreport ).

About Eastman

Founded in 1920, Eastman is a global specialty materials company that produces

a broad range of products found in items people use every day. With the purpose

of enhancing the quality of life in a material way, Eastman works with

customers to deliver innovative products and solutions while maintaining a

commitment to safety and sustainability. The company's innovation-driven growth

model takes advantage of world-class technology platforms, deep customer

engagement, and differentiated application development to grow its leading

positions in attractive end markets such as transportation, building and

construction, and consumables. As a globally inclusive and diverse company,

Eastman employs approximately 14,500 people around the world and serves

customers in more than 100 countries. The company had 2019 revenues of

approximately $9.3 billion and is headquartered in Kingsport, Tennessee, USA.

For more information, visit eastman.com ( https://c212.net/c/link/?t=0&l=en&o=2995713-1&h=601929890&u=http%3A%2F%2Feastman.com%2F&a=eastman.com ).

Media Inquiries:

Laura Mansfield, APR, Tombras

+1 (865) 599.9968 / lmansfield@tombras.com

Brad Lifford, Eastman

+1 423-229-6543 / blifford@eastman.com

Investors:

Greg Riddle, Eastman

+1 212-835-1620 / griddle@eastman.com

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SOURCE Eastman