Ashland Inc.

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

• · berkeley_voluntary_registry

No narrative on renewables strategy in the firm's most recent reports.

No narrative on durable removals approach in the firm's most recent reports.

• Scope 1+2 absolute 50.4% reduction by 2032

  SBTi-validated near-term target to cut Scope 1+2 by 50.4% by 2032 from 2022 baseline (540.5 kmt → 285.1 kmt). Tracking actuals: 540.5 (2022) → 485.6 (2023) → 475.5 kmt (2024). Includes operational discipline, mechanical integrity programs, and process safety risk reduction.

• Sustainable chemistry R&D portfolio shift

  R&D targets aim for 80% from sustainable chemistry by 2025, 85% new product launches from sustainable chemistry by 2025, 65% natural/nature-derived per ISO 16128, and >70% of natural/nature-derived ingredients from sustainably sourced raw materials (RSPO-MB, FSC/PEFC certifications). Multi-functional starch platform is a flagship example.

• Upstream & downstream transport (Cat 4/9)

  Combined transport categories represent ~10% of Scope 3 (Cat 4 = 36,415; Cat 9 = 42,467 tCO2e). Methodology updated in FY2024 to more accurately calculate intra-country transport.

• Raw material supplier engagement (Scope 3 Cat 1)

  Category 1 - Purchased Goods and Services contributes just over half (54.8%) of Ashland's Scope 3 emissions, driven particularly by the raw material product subcategory. Ashland is actively engaging with suppliers to better understand raw material emissions and customer strategies for emissions reductions.

• End-of-life treatment of sold products (Cat 12)

  Cat 12 end-of-life treatment represents 17.8% of Scope 3 (134,175 tCO2e in FY2024). Ashland improved its data methodology in FY2024 which resulted in an -11.6% change versus prior year. As a specialty chemicals supplier, Ashland's products are used as singular components in a wide variety of customer applications.