CEO and CSO Letter
At Owens Corning, our people and products make the world a better place.
Our commitment begins with the recognition that the foundation of a sustainable enterprise is built on financial strength, environmental stewardship, relevant products, innovative thinking, engaged communities, and great people. We believe that – to be truly sustainable – we must continuously expand our positive impact, across these six dimensions, through our strategies and actions.
We continued to make progress toward our 2020 goals. While we are reporting results through 2016, our progress is the result of years of innovative thinking and the focused efforts of 16,000 employees committed to meeting the needs of the present without compromising the world we leave to the future.
We invite you to review highlights of our progress this past year against our four strategic sustainability pillars, and then further explore our web-based 2016 Sustainability Report to learn of our progress and track our performance against our 2020 goals.Operations Sustainability:
- Continued focus on environmental footprint reduction with particulate matter emissions and water use down 23% and 37%, respectively, relative to 2010 levels. Both reductions exceed our 2020 goals.
- Began purchasing power from 250 megawatts of new wind power capacity enabled through our power purchase agreement. This will generate the equivalent electricity of more than 65,000 U.S. homes, with positive impact on primary energy use and greenhouse gas emissions to be reported in our 2017 sustainability reporting.
- Gained LEED Silver designation for Gastonia Business Center in North Carolina – the third Owens Corning facility to achieve LEED recognition.
- Earned asthma & allergy friendly™ Certification for Pure Safety® high performance insulation – the building products industry’s first product to earn this certification from the Asthma and Allergy Foundation of America.
- Achieved Living Product Imperative Certification for two insulation products – the first insulation products in the world to receive this rigorous multi-attribute certification.
- Increased product transparency by obtaining Declare Labels for EcoTouch® and unbonded loosefill insulation products and a Cradle to Cradle Material Health Certification for our Foamular® extruded polystyrene insulation.
- Facilitated the recycling of 2.5 billion pounds of end-of-life shingles through our networks and 1.3 billion pounds of glass in our insulation products.
- Helped deploy insulation solutions to reduce heating loads in low-income housing in Chile, reducing the need for burning wood for heat, the country’s main source of air pollution.
- Partnered with builders to improve energy efficiency and sustainability-related building practices, from high-end show homes to new home construction, in the U.S. and Canada.
- Collaborated with wind turbine manufacturers to leverage our portfolio of fiber, new fabric constructions and non-woven mats, together with material science and rapid prototyping capability, to help make wind energy more economical.
- Achieved a modest reduction in the year-over-year employee recordable incident rate while operating at a very high level of safety performance.
- Launched a science-based global wellness program to help keep our people and their family members healthy.
- Established a global effort that provides education, counseling and medication to assist employees and their family members to become tobacco-free.
- Expanded global efforts to address basic health and education by providing clean drinking water systems, restroom facilities, basic medical services, and educational assistance to thousands of children in Owens Corning communities in India.
- Partnered with Habitat for Humanity and World Vision to provide safe, energy-efficient housing through employee volunteerism, financial support and donation of building materials for about 1,500 families in need in the U.S., Canada, and China.
- Launched the Roof Deployment Project™, which matches Owens Corning Roofing Platinum Preferred Contractors with U.S. military and veterans’ families around the country, to deliver and install a free, new roof.
- Worked with Hose2Habitat to reuse fire hose, brushes, cardboard and more at zoos and animal sanctuaries for toys, and feeding and learning tools that enrich animals’ lives.
- Announced an agreement with the Concrete Preservation Institute to restore the historic Battleship Row mooring quays and help U.S. Army personnel transition to civilian jobs. Owens Corning and the Owens Corning Foundation will donate fiberglass composites, materials expertise and $100,000 to support CPI's Career Skills Program at Pearl Harbor.
- Increase our net-positive momentum by growing our global company;
- Continue our progress toward zero injuries;
- Scale our energy efficiency and durable materials innovation and collaboration in the transportation, buildings, infrastructure, wind energy and industrial sectors;
- Meet our greenhouse gas emissions goals through energy efficiency, renewable energy, substitutions in our foam blowing agents and collaboration with our suppliers;
- Reduce our manufacturing waste generation and develop larger-scale recycling options for glass fiber waste in our operations – this remains a challenge;
- Develop and launch new sustainable product attributes that materially improve their total life cycle impact;
- Expand options for end-of-life recycling of our products, with a near-term focus on asphalt shingles;
- Accelerate our wellness progress to help keep our people and their families healthy;
- Enhance our employees’ and customers’ engagement in responding to the needs of the communities in which we operate; and
- Invest in the growth and development of our people.
Thank you for your interest Owens Corning.
Chief Executive Officer
Chief Sustainability Officer
Global in Scope and Human in Scale
Owens Corning (NYSE: OC) develops, manufactures, and markets insulation, roofing, and fiberglass composites. Global in scope and human in scale, the company’s market-leading businesses use their deep expertise in materials, manufacturing, and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, the company makes thousands of products lighter, stronger, and more durable. Ultimately, Owens Corning people and products make the world a better place. Based in Toledo, Ohio, Owens Corning posted 2016 sales of $5.7 billion and employs about 16,000 people in 26 countries. It has been a Fortune 500® company for 63 consecutive years.
Founded in 1938, Owens Corning has close to a hundred operations spread across North America, South America, Europe and Asia Pacific. Owens Corning manufactures insulation, roofing, and composite products. Owens Corning has negligible outsourcing of manufacturing processes and is immaterial to our business.
Owens Corning is a world-leading producer of glass-fiber reinforcement materials for composites. More than 75 years ago, Owens Corning discovered commercially viable processes for making glass fibers. A composite is an engineered material system that combines reinforcement fibers, such as glass, with another material, like thermoplastic resins or gypsum. The result is a high-performance material that is more durable, energy-efficient, and lightweight than traditional materials such as steel, wood, or concrete.
Today, composite materials are found in more than 40,000 end-use applications. Owens Corning serves a diverse range of customers in the building and construction, transportation, wind energy, consumer, and industrial markets across the globe. Owens Corning composite products deliver productivity and performance benefits, including enhanced durability, design flexibility, light-weighting (reduced fuel consumption and emissions), corrosion resistance, and more. Customers are further supported by more than 200 researchers in five R&D centers on three continents.
Owens Corning delivers high-performance residential and commercial building and industrial insulation solutions through a full line of fiberglass, foam, and mineral wool products and systems. These products and system solutions help conserve energy, improve acoustics, and ease installation and use. These qualities add up to preferred insulation products for residential and commercial construction and industrial applications.
Owens Corning applies the principles of building science to develop safe, sustainable, durable, efficient, and affordable solutions that address thermal, air, and moisture performance for the entire building envelope. These solutions range from high-performance conditioned and ventilated attic systems to performance-engineered duct systems and wall systems designed for different climate zones. Owens Corning is committed to helping builders meet and exceed codes, providing comfort and energy efficiency to building occupants, and offering safe, trusted insulation systems to installers.
With its roofing systems, Owens Corning serves the new construction and residential repair and remodeling markets. The roof can have a major impact on the overall design, performance, and perceived value of a home. Owens Corning offers a style and color – from its array of specialty, architectural, and traditional laminate and three-tab shingles – for every home. Beyond aesthetics, shingles are highly engineered products that include granules for UV protection; asphalt for weather and moisture resistance; a Fiberglas™ mat for strength, durability and fire resistance; and advanced sealants for water and wind barriers.
The Owens Corning® Total Protection Roofing System® consists of all the components that strengthen the roof’s performance and durability – shingles, underlayment and ventilation products, and sealants.
Other products include oxidized asphalt, roofing components and synthetic packaging materials.
Owens Corning is committed to balancing economic growth with social progress and environmental stewardship. The company strives to be net positive by reducing its environmental footprint while growing its handprint – or positive impact – through, for instance, employee volunteerism.
In 2016, for the seventh year in a row, Owens Corning also earned placement in the Dow Jones Sustainability World Index. This is an elite listing of companies based on long-term economic, environmental, and social criteria. For the fourth straight year, Owens Corning was named an industry leader for the DJSI World Building Products Group. The company also earned a gold class rating.
Embracing diversity creates an environment where employees feel welcome, respected, and valued for their contributions. Owens Corning received a perfect score on the 2016 Corporate Equality Index, published by the Human Rights Campaign Foundation. Affinity groups at Owens Corning advance its commitment to inclusiveness – African American Resource Group, Connections, GLBTA (Gay, Lesbian, Transgender and Advocates), Multicultural Network, and Women's Information Network.
Owens Corning’s commitment to safety is unconditional. Since 2001, the company has dramatically reduced injuries in its facilities globally. In 2016, Owens Corning achieved a modest reduction in the year-over-year employee recordable incidents while operating at a very high level of safety performance. Owens Corning has received the highest honor of the National Safety Council (NSC), the Green Cross for Safety medal. NSC presents the award annually to an organization with outstanding safety performance and a commitment to improving the quality of life in the communities where its employees work and live.
Owens Corning was ranked on Aon Hewitt's Top Companies for Leaders® – North America list. The company also ranked 11th on the 2016 Best Companies for Leaders list from Chief Executive magazine.