Eastman Chemical Co. EMN has once more received the 2015 ENERGY STAR Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency (“EPA”) for its efficiency and leadership in energy management. The recipients of the EPA’s annual ENERGY STAR Awards are selected from around 16,000 partners participating in the ENERGY STAR program. The winners will be recognized at an awards ceremony in Washington, D.C., on Apr 20, 2015.
Eastman Chemical has been a partner on the ENERGY STAR program since 2008. This has encouraged the company to upgrade its energy system thereby minimizing costs and lowering emissions. Eastman was the first chemical company to receive the ENERGY STAR Partner of the Year award in 2012 and 2013. The company was honored with the ENERGY STAR Partner of the Year – Sustained Excellence Award in 2014 for its commitment to energy management.
This achievement is a milestone for Eastman Chemical, reflecting years of hard work and commitment toward creating a sustainable energy management program. The ENERGY STAR program particularly helped the company to manage both costs and greenhouse emissions. Moreover, this strategy has enabled the company to increase its energy intensity up to 8% since 2008 thus lowering one billion pounds of greenhouse emissions.
Eastman Chemical has also been able to integrate its additional manufacturing sites in its worldwide energy program. The company’s sustained efforts have helped it to earn additional awards like ENERGY STAR Combined Heat and Power Award and American Chemistry Council Energy Efficiency Award for the 21st consecutive year. Eastman Chemical has further campaigned through out 2014 to promote the benefits of the ENERGY STAR program.
According to Sharon Nolen, manager of Eastman Chemical’s worldwide energy program, this achievement was a culmination of a very dedicated senior management team as well as the company’s participation in ENERGY STAR’s industrial program.
Eastman Chemical however currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the diversified chemical space are Innospec Inc. IOSP, Stepan Company SCL and Akzo Nobel NV AKZOY. While Innospec and Stepan sport a Zacks Rank #1 (Strong Buy), Akzo Nobel carries a Zacks Rank #2 (Buy).
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