Eastman launched its first sustainability review in June this year and the company is actually aiming for 2/3 of its revenue (at a minimum) from new product launches to have sustainability attributes within the next 3-5 years.
Sustainability, as everybody is well aware by now, has different meanings and criteria for each company. For Eastman, the company defines it as 'the ability in creating value to all three aspect of the triple bottom line: environmental responsibility and stewardship, social responsibility, company's economic growth.'
If you want to summarize, it's all about Planet, People, Profit.
Talking to Anne Kilgore, Eastman's director of Sustainability, she explains how sustainability is becoming a major growth driver for the company. Sales of their specialty copolyester plastic Tritan has been doing very well this year with the product being marketed as free of bisphenol-A (BPA).
"Our specialty plastics were an early adoption area for us from the sustainability movement because our downstream customers knew it, needed it and valued it," said Kilgore. "This area has a very active program like the Tritan launch. There's a lot of organic growth in this business sector."More on this post...