Philadelphia: Coatings sector leader Axalta Coating Systems Ltd. (NYSE: AXTA) has published its 2023-2024 Sustainability Report, underlining significant progress on environmental, safety and innovation goals as the company deepens its commitment to sustainable business practices.
In its annual sustainability disclosure, Axalta — which provides coatings for automotive, industrial and architectural markets globally — highlighted marked improvements in workplace safety, emissions reduction, and product-level sustainability outcomes, tied closely to its broader “smarter surfaces for a better world” strategy.
Key report takeaways include:
A ~49% reduction in Total Recordable Incident Rate (TRIR) from 2022 to 2024, reflecting stronger safety performance.
A 9% decrease in Scope 1 and Scope 2 greenhouse gas emissions at manufacturing sites.
Introduction of innovative sustainability-oriented technologies such as the Fast Cure Low Energy Collision Repair Paint System, Axalta NextJet™ and Alesta® powder coatings.
Upgraded ESG credentials with an AA rating from MSCI and top governance recognition from ISS, alongside industry accolades including multiple Edison, BIG Innovation and R&D 100 Awards.
Chris Villavarayan, Axalta’s CEO and President, said the report tracks how sustainability is integrated into the company’s strategic framework, driving operational improvements and delivering value for customers and stakeholders.
The sustainability report also outlines updated goals aligned with Axalta’s strategic priorities, reaffirming its focus on embedding environmental, social and governance considerations across business functions and product portfolios.
The publication of this report comes at a time when Axalta is also preparing for a major corporate milestone, having announced a proposed all-stock merger with AkzoNobel that aims to create a larger global coatings powerhouse.