30%

Reduction

Owens Corning has reduced absolute scope 1 emissions by 30%, 2010 - 2020

47%

Reduction

in market-based scope 2 emissions, 2010-2020

437325

Metric Tons

In 2020, Owens Corning helped avoid 437,325 metric tons of greenhouse gases through power purchase agreements of renewable energy

View Our Analysis

The Path to Drawdown: Insulation

Construction and buildings account for 38% of the total global CO2 emissions and 35% of total energy use. Much of this energy is used to heat and cool a home, but a sizable amount of it (25-60% of that energy) is wasted through air infiltration, or heat escaping from warmer areas to cooler areas.

Better insulation of building envelopes can reduce escaping heat. Insulation is the use of high levels of improved materials in buildings that resist heat flow and regulate indoor temperatures. Ideally, insulation should cover all sides of a building, from the bottom floor, exterior walls, to the roof, and be continuous. Sealing gaps and cracks is also critical to a more thermal resistant building envelope.

Insulation is one of the cheapest and most practical ways to make buildings more energy efficient, both in new construction and through retrofitting older buildings that are often not well insulated. This also means lower utility bills, keeping out moisture, improving air quality and avoiding GHG emissions associated with energy use.

Project Drawdown estimates that, in 2018, 30% of buildings worldwide were insulated. If existing residential and commercial buildings in temperate and tropical countries install insulation (with low carbon materials) at a rate of 1.6 - 2% every year, between 17 - 19 gigatons of GHG emissions can be avoided by 2050.

What We Want to See Improve

Switch to Banks that Don’t Fund Fossil Fuels

Owens Corning entered into a $800 million loan agreement with several large banks (Wells Fargo, Bank of America, Citibank, etc.). These banks still hold substantial investments in fossil fuel companies. We want Owens Corning to sever ties with banks that enable the fossil fuel industry, and instead switch to financial institutions that, in principle, do not fund dirty energy.

Develop Circular Economy Manufacturing Processes

Owens Corning is looking to establish circular economy processes so as to use recycled instead of virgin materials for their manufacturing, and to make their products re-usable after their useful life has ended. But they’re at the very beginning of establishing this process, and we’re eager for them to develop it in the near future.

Related Insulation Stocks in the Climate Index

View All Climate Index Stocks →

Allocated Company Description

0.61%

Owens Corning (OC)

OC makes insulation, roofing, and fiberglass material for residential, commercial and industrial buildings. Building energy efficiency can reduce emissions

0.54%

Topbuild (BLD)

Topbuild installs insulation of various kinds that prevent heat-loss from buildings. Building energy efficiency is key to reducing emissions

0.24%

Beacon Roofing Supply, Inc. (BECN)

Beacon distributes roofing material, insulation, and other products for the construction market. Building energy efficiency is key to cutting emissions

0.24%

Installed Building Products (IBP)

IBP installs various kinds of insulation in residential buildings. Building energy efficiency is key to reducing emissions

0.02%

ReTo Eco-Solutions, Inc. (RETO)

ReTo Eco-Solutions makes eco-friendly construction materials like bricks, pavers and tiles made from reclaimed and recycled materials

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