Cabot Corporation, a Boston-based global specialty chemicals and performance materials company, recently acquired the Chiba Solar Farm in Japan from Shoko Co., Ltd.
Cabot’s sustainability goal: export twice as much energy as it imports by 2025
The solar farm generates up to 3,500 megawatt hours (MWh) of electricity per year, which is equivalent to powering more than 700 homes in Japan each year. This acquisition aligns with Cabot’s sustainability strategy, which includes a goal of exporting twice as much energy as it imports by 2025.
Cabot is committed to reducing its own emissions as well as reducing the net emissions of surrounding businesses and communities to contribute to the global transition to a low carbon future. To achieve this, Cabot has invested in energy recovery systems across its network, including energy centers that generate electricity by converting recovered heat into useful energy. These investments have enabled Cabot’s energy centers in Japan to produce approximately 172,000 MWh of useful energy per year from energy recovery, which is equivalent to powering more than 36,000 homes in Japan each year.
Cabot proactively invests in renewable energy sources
The acquisition of the Chiba solar farm further illustrates Cabot’s commitment to investing in renewable energy sources and meeting its sustainability goals. Cabot’s executive vice president and president of the reinforcing materials segment, Bart Kalkstein, said, “As an industry leader, we are proactively investing in renewable energy sources, like this solar farm, that can be exported to surrounding businesses and communities. With this acquisition, we are providing renewable energy in the local area while continuing our commitment to being a responsible neighbor to the Chiba Prefecture community.”
Cabot’s sustainability performance has been recognized by several organizations, including a platinum rating from EcoVadis for the third year in a row, a nomination to Newsweek’s 2023 America’s Most Responsible Companies list for the fourth year in a row, and a nomination to Investor’s Business Daily’s 2022 Top 100 ESG Companies list for the second year in a row. Cabot’s ambition is to achieve net zero emissions by 2050 on a global scale.
Indeed, Cabot Corporation’s acquisition of the Chiba Solar Farm in Japan is an important step in achieving its sustainability goals, including the export of renewable energy to surrounding businesses and communities.
