MARKET ANALYSIS REGULATORY UPDATE
ILTA ADOPTS – AND ACTS ON – ESG PRINCIPLES Kathryn Clay, president of the International Liquid Terminals Association (ILTA) looks at new ESG principles and the impacts of fire-fighting foam regulatory changes in the US
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for terminals to be a part of the solution for our shared goals. We convey to these policymakers what we see every day – that ILTA member companies are committed to providing safe, secure, efficient and environmentally responsible services to energy and fuel supply chains. Liquid terminals are a critical link in getting liquid products – like gasoline, diesel, chemicals and liquid foods – in the hands of the ultimate consumer. Terminals connect modes of transport and enable economic growth at home and abroad.
AS THE terminal industry’s leading advocate in the US, the International Liquid Terminal Association (ILTA) is focussed on building a strong brand in Washington as we expand our advocacy efforts. Since the Biden Administration’s arrival earlier this year, ILTA has gone to work to educate new political appointees and career officials charged with regulating our industry. We have helped them to understand the challenges facing our industry and the opportunities PAGE 38
ILTA shares how our industry supports sustainability goals. Whether it is through improving the energy efficiency of their facilities, practicing sound water resource management, or conducting proactive dialogue with their neighboring communities, ILTA member companies are working to integrate sustainability into their business models. COMMITTED TO SUSTAINABILITY The commitment that ILTA member companies have to sustainability is apparent in other ways as well. Terminal
companies are increasingly investing in renewable energy projects such as hydrogen production and solar installations. One innovative approach involves installing solar panels on the roof of tanks. This not only reduces greenhouse gas emissions, but also offsets energy costs for the facility. I am excited to share that the ILTA board of directors voted to approve a set of environmental, social, and governance (ESG) principles. The principles are the result of an industry-wide dialogue over more than six months. The ILTA ESG principles are truly the result of contributions from across our ILTA community, demonstrating how much corporate sustainability is on the minds of terminal industry professionals. The principles are publicly available on the ILTA website, and see boxout, left. NEW PROPOSALS ON FIRE-FIGHTING FOAMS ILTA is being guided by its principles in how we approach environmental policy. This includes our efforts to contribute to solutions related to the use of per- and
