Published on 18 Jun 2024 on Zacks · via Yahoo Finance
Cabot (CBT) Gets Operation Clean Sweep Europe Certification
Cabot Corporation CBT has secured Operation Clean Sweep (OCS) Europe certification for its two masterbatch and compounding operations in Pepinster and Loncin, Belgium. The company is one of Europe's first black masterbatch manufacturers to receive this third-party certification.OCS Europe certification for these sites demonstrates the company's unwavering commitment to employing responsible management practices that reduce plastic waste in the environment.The OCS Europe certification process is designed to monitor and document compliance of companies throughout the plastics supply chain to prevent pellets, powders and flakes from being released into the environment. As a result, the requirements for this certification are based on the six OCS pillars: improving worksite setup to prevent and address spills, developing internal procedures to achieve zero plastic material loss, providing employee training and accountability, auditing, legal compliance and raising awareness among value chain partners.Two leading industry bodies, Plastics Europe and European Plastics Converters ("EuPC"), advocated for the certification scheme, which represents a significant step forward in the collaborative effort to reduce waste and pellet leakage into the environment. Cabot has played an important role in this process, particularly through its chairmanship of the European Masterbatches & Compounders Association, a sector group of EuPC. Cabot has been at the forefront of implementing the OCS certification scheme throughout Europe, demonstrating its commitment to advancing sustainable practices in the plastics industry.Also, Cabot has pledged its support for OCS, an industry-led program that helps companies achieve zero plastic resin loss in operations. Cabot has also announced detailed plans to implement OCS practices, which include facility and equipment assessments to reduce plastic pellet loss hazards at loading, transport, drainage and wastewater access points. Cabot fosters an awareness and accountability culture among its employees through training, open communication and incident reporting.Shares of Cabot have gained 30% over the past year compared with a 5.1% decline of its industry.
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