Xebec Adsorption Inc (XBC)

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Xebec Releases Inaugural Annual Sustainability Report

First report highlights progress towards meeting key industry sustainability metrics

MONTREAL, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions is pleased to release today its inaugural 2019 ESG Report, highlighting its approach to sustainability and setting a baseline for managing and reporting on its material environmental, social, and governance (“ESG”) issues.
“Gross Domestic Product growth and prosperity should not come at the expense of environmental and social prosperity, and Xebec is committed to ensuring that it conducts business responsibly for the benefit of future generations. Xebec’s 2019 ESG Report is a first step to bring structure and process to the integration of ESG considerations in the conduct of our business that will lead to improved reporting year over year,” said Kurt Sorschak, Chairman, CEO and President of Xebec.

Reporting on Xebec’s material ESG issues is based on the standards of the Sustainability Accounting Standards Board (“SASB”) for the Industrial Machinery & Goods industry of the Resource Transformation sector, as defined by SASB’s Sustainable Industry Classification System®; these serve to determine the specific material ESG issues we report on. Xebec has also used the framework provided by the Taskforce on Climate-related Financial Disclosures (“TCFD”); these serve as a guide to the context and narrative Xebec provides for its sustainability approach in general and how the company addresses each material issue specifically.

Material issues addressed in the report:

Climate change
Energy management
Employee health and safety
Fuel economy and emissions in use-phase
Materials sourcing
Remanufacturing design and services
Xebec is implementing a continuous improvement process of managing, measuring, and reporting on those ESG issues that are critical to our business activities. With this report, we have begun the process of explicitly identifying such issues and integrating them into our governance and management processes, in order to more clearly measure and communicate how we perform on them to our stakeholders including our shareholders, employees, capital providers, governmental agencies, and the general public.

The full Xebec 2019 ESG Report can be downloaded at:
https://xebecinc.com/wp-content/uploads/2020/08/ESG-Report-2019.pdf

Related links:
https://xebecinc.com/
https://xebecinc.com/sustainability/

For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
[e-mail]
+1 450.979.8700 ext 5762

About Xebec Adsorption Inc.
Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montréal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.xebecinc.com.