Stephen Crawford1:29
The fact is, basically there's 80 million more people each year being brought onto the earth, and we've got problems both with hydration and with feeding the population. One, the solutions have to first be at scale, which we are as a 10 billion dollar company, and then secondly, the problems are so complex they have to really be solved at a molecular level. Eastman is a global specialty materials company in Kingsport, Tennessee.
This will be our 100th anniversary as Eastman. We had a long history of being part of Kodak and then eventually being spun off as a separate company in '94. So our primary goal has existed for a very long time, and our moral stated purpose is to enhance the quality of life in a material way. So as we think about it, we're in the materials business. Our job is to improve the quality of materials. If you look at it decades ago, it was providing higher quality products for people to improve their quality of life. Today, the fundamental opportunity is how do we make these products more environmentally sensitive.
Eastman today has grown to a company of sustainability while addressing the changing needs of the world and its growing population. I think we are at a tipping point with sustainability. I think in years past it's been a nice to have, but at this point it has become a requirement. So consumers are requiring it, brands are requiring it, and our customers are demanding it. So as you look at the commitments that big brands have made, the stakes they put in the ground about their future commitments, sustainability is at the heart of those, and we have to deliver the right solutions. One thing I'm really excited about is how we've sort of repurposed innovation. Instead of figuring out how to make new things, we're actually going to figure out how to give new life to old things, or things that don't have any and no longer have a current value. So we're going to talk about waste plastics.