Statement on Palm Oil

The Lubrizol Corporation (Lubrizol) is committed to sourcing raw materials from suppliers that do business ethically and responsibly. This commitment means partnering with suppliers that uphold Lubrizol's core values, including environmental protection and social responsibility.

A small percentage of the raw materials purchased by Lubrizol contain palm-based derivatives. Lubrizol recognizes that the harvesting and processing of palm-based feedstocks may pose serious environmental ramifications, including deforestation, greenhouse gas emissions, air pollution and loss of peatlands. Lubrizol purchases palm-based raw materials directly and indirectly, like many specialty chemical manufacturers.

Lubrizol's goal is to ensure that, by 2020, all of the palm-based raw materials it sources are harvested and processed in environmentally responsible ways. Lubrizol has committed to sourcing its palm-derived materials from suppliers that can provide clear traceability of feedstocks back to the origin of the palm-based oils (including the identities of mills, refineries and plantations). Utilizing supply chain mapping, Lubrizol will validate that the palm-based raw materials it purchases: (1) do not originate from suppliers that engage in deforestation of High Conservation Value and High Carbon Stock areas; (2) do not result from the conversion of peatland; and (3) are not harvested as a result of burning used for clearing and meets other important standards of the Roundtable on Sustainable Palm Oil (RSPO).

In addition, Lubrizol recognizes that the harvesting of palm fruit may have social and economic ramifications. Lubrizol requires that all of its suppliers adhere to Lubrizol's legal and ethical Code of Conduct, which details Lubrizol's expectation – for itself and its business partners – to conduct business honestly and with integrity. The Code sets forth Lubrizol's commitment to important ethical, legal and social issues, such as complying with employment, trade and environmental laws and regulations, continuously improving the safety of workers, fostering an inclusive and respectful workplace and maintaining fair and ethical business practices in the countries where they operate. Lubrizol's Code applies to all suppliers, including suppliers of palm-based raw materials.