PPG outlined its organic growth framework, financial expectations and sustainability goals as part of the company’s plan to deliver “Purposeful, Profitable Growth.”
The framework includes the following key elements:
- Concentrating investment toward positions within advantaged areas
- Providing industry-leading innovation by partnering with customers
- Simplifying, modernizing and digitizing operations
- Continuing the company’s legacy of disciplined capital allocation and delivering consistent high-cash conversion
“PPG is poised to leverage our diverse business portfolio to deliver industry-leading growth,” said Tim Knavish, President and CEO of PPG. “Going forward, we will intentionally invest in focused growth opportunities that enhance our customers’ productivity and sustainability, elevate our customer relationships and expand PPG’s technology leadership positions in the coatings industry. We will continue our heritage of cost management, consistent cash generation and focus on returning cash to shareholders, including through increased annual dividends.”
In terms of environmental, social and governance (ESG) goals for 2030, PPG aims to achieve 50% of its sales through sustainable products that have a competitive advantage. Additionally, it targets a 50% decrease in direct (scope 1) and indirect (scope 2) greenhouse gas (GHG) emissions compared to the levels in 2019. The company also strives for a 30% reduction in indirect (scope 3) GHG emissions relative to the levels in 2019.
