Multiple technologies from The Dow Chemical Company (NYSE: DOW) have been recommended for use in projects supported by the U.S.-China Building Efficiency and Green Development Fund. The Fund is a public-private partnership convened by the Paulson Institute that provides financing to bring innovative technologies from the United States to China in an effort to reduce building-energy emissions.
As a leader in innovation to address global challenges, Dow’s products will play an instrumental role in assisting the overall goal of bridging green technology implementation and affordability in China. The Company has been committed to helping China achieve its climate change targets since the intent to launch the Fund was announced in September 2014. Additionally, Dow serves as one of the core members of the Paulson Institute’s CEO Council for Sustainable Urbanization.
“We want to help power China’s transformation into a truly sustainability-driven economy,” said Andrew Liveris, chairman and chief executive officer of Dow. “The collaborative effort led by the Paulson Institute to provide green technologies to the Chinese marketplace has taken impressive steps forward since the intent to launch was signed. We’re proud to be able to contribute our expertise to advance sustainable development in the region.”
The first milestone of the Fund was reached with the completion of a technology assessment that identified proven, high performance building technologies to be recommended for use in subsequent projects. Two cities in China signed letters of intent in June to establish infrastructure for investment in five construction projects in which recognized innovations will be utilized. Dow earned multiple acknowledgements that included technologies from multiple business units including Dow Building Solutions, Dow Construction Chemicals, Dow Polyurethanes, Dow Elastomers and Dow Coating Materials.
Dow’s engagement with the Fund is aligned to the Company’s Leading the Blueprint 2025 Sustainability Goal, a pledge to collaborate with stakeholders at all levels to facilitate the transition to a sustainable planet and society. As China accounts for approximately 50 percent of all new construction in the world for the foreseeable future, Dow is working alongside governments and U.S. and Chinese companies to ensure that sustainability is considered at the design phase of building development.
“Courageous collaboration is a key tenet of Dow’s 2025 Sustainability Goals,” said Neil Hawkins, chief sustainability officer and corporate vice president for Environment, Health and Safety at Dow. “The Fund is a natural fit with Dow’s goals to help address climate change and to foster local protection of health and the environment in the places we do business. In this market especially, building efficiency is a very important part of China’s effort to have a significant global impact on climate change and reduce emissions for its own citizens.”
Involvement with the Fund and the China State Construction Engineering Corporation has provided Dow opportunities to build relationships and gain recognition in the Chinese marketplace. Collaboration with the Paulson Institute and the China State Construction Engineering Corporation, through participation in the CEO Council for Sustainable Urbanization, offers the Company an important opportunity to help China fulfill its climate commitments and achieve its urbanization goals in more sustainable ways.
“Countries like China have impressive new construction and climate goals, but the building codes, proven technologies and market awareness of total-cost-of-ownership are not aligned to balance both,” said Jane Palmieri, business president, Dow Building & Construction. “It is incumbent upon proven public and private market leaders to share expertise, time and solutions with growth markets to develop these capabilities – especially building codes, which essentially draft the blueprint for generations of sustainable development. With 40 percent of global carbon emissions coming from buildings, it’s clear that building technology adoption should be the first priority in helping China achieve its ambitious climate goals.”