Owens Corning on October 21 announced that it ranked 56th on Newsweek's first-ever "Green Rankings," which examines and rates America's 500 largest publicly traded companies on environmental footprint, policies and practices. Owens Corning scored 80.66 out of a possible 100, and ranked fourth among the General Industrials sector.
"We are proud to be considered one of America's greenest companies and as one of the top energy efficiency leaders in our industry," said Frank O'Brien-Bernini, chief sustainability officer. "We are committed to safeguarding, sustaining and improving the environment for current and future generations by developing energy efficient products, innovative sustainable solutions, reducing our environmental footprint and actively contributing to global initiatives for climate change policy and resolution."
Owens Corning has reduced its environmental footprint since 2002, including a 17 percent reduction in energy intensity. The company is a leading manufacturer of fiberglass and foam insulation products that significantly improve the energy efficiency of buildings. Homes and buildings consume 40 percent of the world's energy, including more than 70 percent of the electricity in the United States. There are approximately 80 million under-insulated homes in the U.S. today. Properly insulating homes and commercial buildings can save 1.7 billion megawatt hours per day of energy, equivalent to up to 2.7 million barrels of oil per day in the United States. Owens Corning's glass fiber reinforcements are also the most widely used reinforcements in the making of wind turbine blades that generate renewable energy worldwide.
Research for Newsweek's "Green Rankings" was conducted by three leading players in environmental research: KLD, Trucost and Corporate Register. Results of the report were based on a number of criteria, including amount of GHG and toxic waste emissions and use of natural resources. Newsweek and its expert panel also assessed management of environmental issues and policies, regulatory compliance and policies concerning climate change. The rankings also factor in results of an exclusive reputational survey of CEOs, corporate social responsibility officers, members of the media, academics and members of key environmental groups. The full "Green Rankings" feature can be found at http://greenrankings.newsweek.com/.
About Owens Corning
Owens Corning is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune 500 Company for 55 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $6 billion in 2008 and about 16,000 employees in 30 countries on five continents.