Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health, Safety, and Environment
• Community Engagement
• Governance

Environmental Achievements

• Lowest lost time severity rate in company history
• U.S. Environmental Protection Agency Green Chemistry Award for AlkyClean® process
• American Chemistry Council Waste Minimization Award
• Six American Chemistry Council Energy Efficiency Awards (487,000 MMBtu per year and 28,470 tons of CO2 per year energy reduction)
• Conservation Certification by the Wildlife Habitat Council for Magnolia site

Social Achievements

• Albemarle Foundation delivered approximately $27 million to more than 200 agencies
• Albemarle Care Fund granted over $371,000 to employees affected by Baton Rouge flooding
• Cooperation Sustainability and Mutual Benefit Agreement with the Council of Atacameno People (CAP) in Chile

Governance Achievements

• Implementation of Enterprise Risk Management (ERM) process
• Annual evaluation process of the Board’s performance and procedures
• Approximately 50% of Board compensation and approximately 27% to 67% of senior executive total compensation linked to Albemarle stock performance

Climate Goals & Targets

Environmental Challenges

• Increase in process safety incidents (though none with offsite impact)
• Economic downturns impacting customers and suppliers
• Securing key raw materials
• Fluctuations in raw material and energy costs
• Irregularities in demand for HPC catalysts and agrichemicals
• Risks related to intellectual property
• Risks associated with international operations
• Changes in tax legislation
• Environmental, health, and safety laws and regulations
• Climate change and related regulations
• Regulation of products (e.g., brominated flame retardants)
• REACH regulations
• Product quality and customer claims
• Hazards common to chemical businesses
• Natural disasters and weather-related matters
• Insurance coverage limitations
• Attracting and retaining key personnel
• Joint venture partner performance
• Acquisition integration challenges
• Pension plan funding obligations
• Terrorist attacks and security risks
• Credit rating changes
• Tax exposure from Rockwood pre-acquisition periods
• Lack of proven or probable mineral reserves

Mitigation Strategies

• Efforts to eliminate process safety incidents are a priority
• Disciplined cost reduction efforts and strong balance sheet
• Long-term contracts for raw materials
• Contracts with price caps to mitigate price volatility
• Research and development investments
• Patent, trade secret, and other legal protections
• Policies and strategies effective in each operating location
• Regular assessment of tax liabilities
• Substantial capital and operating costs for compliance
• Product stewardship program (VECAP™)
• Site security requirements and insurance
• Succession planning
• ERM process and risk mitigation strategies
• Voluntary contributions to pension plans
• Security measures to reduce terrorist attack risks
• Indemnification agreements for tax liabilities

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Declining water levels in the Dead Sea

Transition Risks

• New regulations on greenhouse gas emissions

Opportunities

• Alternative fuel technologies and emissions control

Reporting Standards

Frameworks Used: GRI, Responsible Care®

Certifications: ISO 14001, RC14001®, VECAP™

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• AlkyClean® process
• GreenCrest™ flame retardant

Awards & Recognition

• U.S. EPA Green Chemistry Award
• American Chemistry Council Waste Minimization Award
• Six American Chemistry Council Energy Efficiency Awards
• Wildlife Habitat Council certifications

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Social Responsibility
• Governance

Environmental Achievements

• Reduced total direct and indirect greenhouse gas emissions to 1.05 million metric tons in 2017 from 1.14 million metric tons in 2016.
• Implemented new technology in La Negra, Chile to expand production without additional water volume, recycling process water and eliminating the need for solar evaporation ponds.
• Catalysts site in Amsterdam initiated a multi-year program to reduce energy usage by 8%.
• Lithium site in Silver Peak, Nevada optimized energy usage with new heat exchangers.

Social Achievements

• Albemarle Foundation contributed over $4,000,000 to nonprofit agencies.
• Employees donated more than $720,000 in cash and over 10,000 volunteer hours.

Governance Achievements

• Established five standing committees: Audit & Finance, Capital Investment, Executive Compensation, Nominating & Governance, and Health Safety & Environment.
• Linked approximately 50% of Board compensation and 32% to 65% of senior executive total compensation to Albemarle stock performance.

Climate Goals & Targets

Environmental Challenges

• Increasing water consumption (12.63 million cubic meters in 2017 vs 11.85 million cubic meters in 2016).
• Need to further reduce greenhouse gas emissions.
• Societal concerns about certain chemicals.

Mitigation Strategies

• Working internally and with partners to limit water use.
• Focusing on improving water efficiencies in all processes.
• Seeking to continue making strides in reducing greenhouse gas emissions.
• Phasing out and replacing flame retardants HBCD and DECA-BDE with safer alternatives.
• Developing new flame retardant chemistries that are non-toxic, non-bioaccumulative, and facilitate recycling.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Declining water levels (Dead Sea)
• Changes in rainfall and storm patterns
• Water shortages

Transition Risks

• Additional regulations or restrictions on greenhouse gas emissions
• Cap and trade legislation
• Increased production costs
• Additional taxes
• Reduced emission allowances
• Restrictions on production or operations

Opportunities

• New business opportunities in alternative fuel technologies and emissions control

Reporting Standards

Frameworks Used: GRI, Responsible Care®

Certifications: ISO 14001, LEED Gold, EcoVadis Gold

Awards & Recognition

• Corporate Responsibility Magazine’s 100 Best Corporate Citizens List
• LEED Gold certification
• EcoVadis Gold Recognition Level

Environmental Metrics

ESG Focus Areas

• Safety
• Diversity & Inclusion
• Community Investment
• Environmental Stewardship
• Product Responsibility
• Governance
• Human Rights
• Anti-Corruption

Environmental Achievements

• Reduced water consumption from 12.63 million cubic meters in 2017 to 12.06 million cubic meters in 2018.
• Implemented waste minimization, reuse, and recycling projects resulting in 250,000 pounds of waste recycled.
• Improved energy efficiency projects reducing natural gas usage and steam usage in various plants.

Social Achievements

• Launched a global culture survey to gather employee feedback.
• Increased diversity in new hires: 33% women, 6% military veterans, 22% ethnic minorities.
• Hosted the first Connect Conference for women employees.
• The Albemarle Foundation granted over $5,600,000 to nonprofit agencies.
• Employee Volunteer Grant Program distributed $158,000 supporting over 14,000 volunteer hours.
• $10,000,000 investment to drive economic mobility in Charlotte, NC.
• Cooperation with Chilean communities resulting in infrastructure improvements and scholarships.

Governance Achievements

• Implemented a robust Enterprise Risk Management (ERM) process.
• Approximately 50% of Board compensation and 67% of CEO compensation linked to company performance (including ESG factors).
• Annual cash incentive plan for CEO includes environmental and safety performance measures.
• Updated Code of Conduct and Anti-Corruption Policy.
• Established multiple channels for reporting ethical concerns (Integrity Helpline, web portal).

Climate Goals & Targets

Environmental Challenges

• 2018 safety results fell below expectations.
• Potential for additional regulations or restrictions due to climate change.
• Potential impacts of climate change on operations (e.g., declining water levels).
• Societal concerns about certain chemicals.

Mitigation Strategies

• Implemented best-in-class systems to address high-severity injuries.
• Adapted internal auditing program to uncover vulnerabilities.
• Developed a three-year plan to improve safety performance.
• Implementing appropriate remedial measures in response to potential violations of anti-corruption laws.
• Phased out HBCD and DECA-BDE flame retardants and developed safer alternatives.
• Commitment to Green Chemistry and Green Engineering principles.

Supply Chain Management

Supplier Audits: Risk-weighted due diligence conducted on third-party sales representatives.

Responsible Procurement

• Code of Conduct
• Supplier sustainability requirements

Climate-Related Risks & Opportunities

Physical Risks

• Declining water levels
• Extreme weather events

Transition Risks

• New regulations on greenhouse gas emissions

Opportunities

• Development of alternative fuel technologies and emissions control solutions

Reporting Standards

Frameworks Used: Responsible Care®, ISO 14001

Certifications: ISO 14001, RC14001®

Third-party Assurance: Not disclosed

Sustainable Products & Innovation

• Mercury control technologies
• Safer flame retardant chemistries

Awards & Recognition

• American Chemistry Council awards for waste minimization, reuse and recycling, and energy efficiency.

Environmental Metrics

ESG Focus Areas

• Water conservation
• GHG emissions reduction
• Community development
• Workplace safety
• Inclusion and diversity
• Ethical business practices
• Natural resource management
• Sustainable product design

Environmental Achievements

• Reduced GHG emissions to 902,000 mt CO2e in 2019 (lower than 2018 due to energy reduction measures)
• Improved energy efficiency at Bayport facility, reducing energy usage by 2% annually
• Decreased steam usage at Magnolia Arkansas plant through bromine tower modifications
• 78% of total energy use from passive solar energy in Salar de Atacama and Silver Peak
• Increased lithium production in Chile with little to no increase in fresh water usage

Social Achievements

• Increased representation of women on the board of directors to 50%
• Launched a refreshed hazard recognition and mitigation tool (SCAN)
• Improved safety incident and lost time incident rates
• Expanded Albemarle Foundation to include global initiatives, contributing $6,198,675 to over 1,000 nonprofits
• Implemented diverse candidate slates in recruiting

Governance Achievements

• Revised Anti-corruption, Gifts & Hospitality, and Antitrust Policies
• Launched a new Business Partner Code of Conduct
• Revised Code of Conduct launched in August 2019
• Global ethics and compliance risk assessment at 25 Albemarle sites

Climate Goals & Targets

Environmental Challenges

• Water scarcity in Chile and Jordan
• Managing GHG emissions from energy-intensive processes
• Maintaining ethical business practices and compliance
• Potential improper payments by third-party sales representatives

Mitigation Strategies

• Investing in technologies to increase production with less water (>$100 million in Chile)
• Implementing energy reduction measures and switching to natural gas in some locations
• Continuous risk assessment and enhancement of ethics and compliance programs
• Internal investigation and self-reporting of potential issues to relevant authorities, implementing remedial measures

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Business Partner Code of Conduct

Climate-Related Risks & Opportunities

Physical Risks

• Water scarcity
• Extreme weather events

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Growth in lithium demand for electric vehicles
• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI, SASB

Certifications: ISO 14001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Lithium products for electric vehicle batteries
• Bromine flame retardants
• Catalysts for clean transportation fuels

Awards & Recognition

• American Chemistry Council award for energy efficiency

Environmental Metrics

ESG Focus Areas

• Natural Resource Management
• Energy & Greenhouse Gases
• Water Resource Stewardship
• Waste
• Safety
• Diversity, Equity & Inclusion
• Investment in Talent
• Community & Stakeholder Engagement
• Business & Financial Resilience
• Business Ethics & Regulatory Compliance
• Product & Process Innovation
• Sustainable Shareholder Value
• Value Chain Excellence

Environmental Achievements

• Invested in thermal evaporator (Chile), GHG reduction (Netherlands)
• Set baseline data: Energy, GHG, Freshwater
• Set targets: GHG, Freshwater
• Launched Climate Strategy
• Invested in Freshwater conservation and reclamation
• Completed 1st IRMA self-assessment

Social Achievements

• Achieved 1st quartile safety performance
• Improved performance management, initiated “LAUNCH” talent program, employee culture survey
• Expanded Albemarle Foundation internationally
• Appointed DE&I officer, launched sustainability strategy, signed CEO Action for Diversity & Inclusion
• Updated policies: Human Rights, Community Relations & Indigenous People, Labor
• Launched “Journey to Zero” safety campaign
• Initiated Employee Resource Groups (ERGs)
• Created Albemarle Foundation
• Signed community agreements in Chile

Governance Achievements

• Committed to maintain Investment Grade credit rating
• Launched NIST cybersecurity framework
• Implemented single ERP
• Launched successful sustainable cost reduction program
• Completed 3rd party materiality assessment
• Improved reporting: sustainability framework
• Launched eCode of Conduct and revised policies
• Refreshed Board of Directors oversight and cadence, established sustainability steering team and program office
• Aligned with leading standards: UN Global Compact, UN SDGs, SASB, S&P 500 ESG
• Updated policies including: Responsible Sourcing, Antitrust, Business Partner Code of Conduct

Climate Goals & Targets

Environmental Challenges

• Reducing carbon footprint is a multi-decade journey

Mitigation Strategies

• Hierarchy of emission reduction measures starts with avoidance and reductions and ends with off-sets
• Measure and calculate GHG emissions of our operations according to the GHG protocol
• Include sustainability criteria in the design phase of our plants and products
• Identify and implement projects to reduce GHG emissions and improve energy efficiency
• Evaluate the social and environmental cost of CO2 to balance traditional financial parameters in investment decisions

Supply Chain Management

Responsible Procurement

• Restructured global supply chain organization, rationalized vendors

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI, UN Global Compact, UN SDGs, SASB, S&P 500 ESG, CDP, TCFD

Environmental Metrics

ESG Focus Areas

• Climate Change
• Diversity, Equity & Inclusion
• Natural Resource Management
• Sustainable Shareholder Value
• Value Chain Excellence
• Community Engagement
• Business Ethics & Regulatory Compliance
• Safety

Environmental Achievements

• Reduced total scope 1 and 2 GHG emissions by 3.8% year-on-year to 899 kt CO2e.
• Completed construction of a $100M thermal evaporator at La Negra, Chile, doubling lithium production without increasing freshwater use.
• Reduced energy consumption at Amsterdam production facility by 2.5% through the Heartbeat Project.
• Reduced freshwater consumption intensity by more than 30% at La Negra with the thermal evaporator (at full capacity).
• Reduced water intensity by 20% at Magnolia, Arkansas through marsh water recycling.
• Reduced hazardous waste generation at JBC by 60%, VOC emissions by 80%, and raw materials/GHG per metric ton of product.

Social Achievements

• Launched the Albemarle Way of Excellence operating model, embedding sustainability into business priorities.
• Created key senior-level positions, including VP of Global Government and Community Affairs and Chief Supply Chain Officer.
• Became a signatory to the UN Global Compact.
• Released DE&I Strategic Plan with targets to increase global gender diversity by 1% per year and U.S. racial diversity by 1% per year in senior management.
• Launched Elevate Women program with 80+ participants.
• Maintained total turnover rate at 11.6% and voluntary turnover at 7.4%.

Governance Achievements

• Clarified Board oversight of sustainability and updated committee charters.
• Created the role of Chief Supply Chain Officer (CSCO).
• Created a Global Government and Community Affairs team.
• Updated Code of Conduct, including adding Life Saving Rules.
• 99% of employees completed Code of Conduct training.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to COVID-19 and Suez Canal obstruction.
• Increased cybersecurity risk due to remote work.
• Geopolitical risks affecting operations across multiple continents.
• Talent acquisition and retention in a competitive market.
• Managing climate change risks and opportunities.

Mitigation Strategies

• Consolidated freight forwarding and marine suppliers, implemented port diversification, and developed contingency shipping routes.
• Implemented enhanced cybersecurity initiatives, including a third-party SOC and regular employee training.
• Diversified resources and conversion capacity across multiple jurisdictions.
• Introduced initiatives focused on talent acquisition, retention, training, and development.
• Issued Albemarle Climate Strategy with a net-zero ambition by 2050.

Supply Chain Management

Supplier Audits: Periodic audits of business partners, including anti-corruption audits.

Responsible Procurement

• Albemarle Code of Conduct and Business Partner Code of Conduct.
• New global procedure governing supplier qualification.
• Due diligence on high-risk suppliers.
• Supplier Diversity Program launched in the U.S.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and processes.

Reporting Standards

Frameworks Used: GRI Standards, SASB Standards, UNGC, CDP

Certifications: ISO 14001 (at almost all US sites)

Third-party Assurance: PricewaterhouseCoopers (PwC) - attest review of total energy consumption and Scope 1 & 2 GHG emissions.

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation, and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)
• Goal 11 (Sustainable Cities and Communities)
• Goal 17 (Partnerships for the Goals)

See page 28 for details on Albemarle's alignment with the SDGs.

Sustainable Products & Innovation

• Next Generation KF 774 PULSAR™ Clean Fuels Catalyst
• MercLok™ (mercury remediation)
• SAYTEX ALERO™ (sustainable polymeric fire safety product)
• Prelithiation technology for lithium-ion batteries

Awards & Recognition

• EcoVadis Gold Medal status (six consecutive years)
• American Chemistry Council Energy Efficiency Award
• AICM Open-to-Public Day Best Practice Award
• Chamber of Minerals and Energy’s South-West Ngwayir Award (runner-up)

Environmental Metrics

ESG Focus Areas

• Natural Resource Management
• People, Workplace & Community
• Sustainable Value Creation

Environmental Achievements

• Brought online a $100 million thermal evaporator at La Negra plant in Chile, doubling lithium carbonate production capacity without proportionally increasing freshwater footprint.
• Salar de Atacama site became the first lithium mine in the world to undergo an audit by the Initiative for Responsible Mining Assurance (IRMA).
• Reduced sulfur oxide (SOx) emissions by 6% year-on-year.
• Introduced MercLok™, a mercury remediation technology.

Social Achievements

• Achieved annual diversity goals.
• Employee voluntary turnover rate of 5.3% in 2022 was below the industry average.
• Launched first global employee Empowerment Survey.
• Implemented a framework to provide non-manufacturing employees with flexible work location options.

Governance Achievements

• Became a signatory to the United Nations Global Compact CEO Water Mandate.
• Updated ERM framework to specifically consider sustainability factors when assessing risks.
• Improved performance on 20 of 23 NIST CSF subcategories versus 2021 (Cybersecurity).

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to geopolitical events (e.g., war in Ukraine).
• Rising energy costs.
• Increasing regulatory scrutiny of lithium-ion batteries (e.g., EU Battery Regulation).
• Water scarcity in Chile and Jordan.

Mitigation Strategies

• Diversification of resources and conversion capacity.
• Investment in energy-efficient equipment and renewable energy.
• Proactive engagement with governments and stakeholders.
• Implementation of water reduction projects and advanced technologies (e.g., thermal evaporator).

Supply Chain Management

Supplier Audits: Four site audits conducted by Internal Audit in 2022.

Responsible Procurement

• Business Partner Code of Conduct; due diligence to mitigate risks related to human rights, health and safety, environment, corruption, fraud, and antitrust; sustainable procurement strategy.

Climate-Related Risks & Opportunities

Physical Risks

• Water scarcity (Chile, Jordan)
• Thunderstorms (US)
• Heat extremes and impacts on power supplies (China)

Transition Risks

• Carbon pricing
• Loss of customers linked to climate performance
• Regulation of Li-ion batteries

Opportunities

• Expansion of low-carbon mobility
• Expansion of battery recycling

Reporting Standards

Frameworks Used: SASB, GRI, TCFD

Certifications: ISO 14001 (at almost all US sites)

Third-party Assurance: PricewaterhouseCoopers LLP (PwC) (limited assurance on energy, emissions, and water metrics)

UN Sustainable Development Goals

• Goal 6
• Goal 7
• Goal 9
• Goal 11
• Goal 12
• Goal 13

Albemarle's products and services contribute to the advancement of these goals through sustainable resource management, clean energy solutions, responsible supply chains, and community engagement.

Sustainable Products & Innovation

• MercLok™, SAYTEX ALERO®, ReNewFine catalysts, Quasar catalysts

Awards & Recognition

• Product Safety Award; Initiative of the Year Award; seven 2023 Facility Safety Awards; Waste Minimization, Reuse, and Recycling Award; Sustainable Initiatives Award; Wildlife Habitat Council Pollinators Project Award.

Environmental Metrics

ESG Focus Areas

• Natural Resource Management
• People, Workplace and Community
• Sustainable Value Creation

Environmental Achievements

• Salar de Atacama site achieved an Initiative for Responsible Mining Assurance (IRMA) 50 level performance score.
• Completed the Salar Yield Improvement Project, increasing lithium extraction from brine and targeting reductions in carbon and water intensity.
• NEBO project in Jordan (to be fully operational in 2024) will reduce waste formation and water usage.
• Acquired 100% renewable electricity for plants in Chile and Kings Mountain, North Carolina; acquired 84% renewable electricity for Silver Peak, Nevada plant (targeting 100% in 2024); and purchased green electricity to satisfy nearly 50% of Xinyu, China's electricity needs.
• Chilean operations met their 2030 target to reduce freshwater use intensity by 25% compared to 2019 baseline levels.

Social Achievements

• Ranked in the top quartile for safety performance by the ACC for the fifth consecutive year.
• Increased global gender diversity by 1.1% year over year.
• Increased global gender diversity in director level and above positions by 2.6% year over year.
• Increased US racial diversity at director level and above positions by 0.7% year over year.
• Investing in a state-of-the-art accommodation village (Paris Grove) in Australia to support construction workforce safety and well-being.
• Published inaugural DEI Report.

Governance Achievements

• Received 10 ACC Responsible Care® Awards for sustainability initiatives.
• Updated Code of Conduct to incorporate sustainability-related amendments pertaining to human rights and responsible sourcing.
• Launched several new formal policies and procedures (Conflict of Interest Policy, Modern Slavery Due Diligence Procedure, Enhanced Investigations Procedure, Disciplinary Policy and Procedure, Chile Host Community Engagement Procedure).

Climate Goals & Targets

Environmental Challenges

• Dynamic market environment.
• Increased GHG intensity in Specialties and Ketjen businesses due to lower production volumes.
• Higher carbon intensity at Kemerton due to start-up phase.
• Underperforming third-party water recovery unit at JBC, increasing freshwater intensity.

Mitigation Strategies

• Disciplined decision-making and focused enterprise execution to adapt to market trends.
• Continued efforts to procure renewable energy and pursue energy efficiency at all sites.
• Ramping new facilities to full capacity.
• Re-establishing smooth operation of the water treatment unit at JBC and start-up of the NEBO project.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Supplier environmental performance metrics used as criteria in raw material procurement.
• Modern slavery and human rights due diligence embedded in supplier qualification process.
• Partnership with EcoVadis for sustainable supply chain assessments.

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards, SASB, TCFD recommendations, UNGC

Certifications: ISO 14001

Third-party Assurance: PwC (limited assurance on energy consumed, water withdrawal, water consumed, percentage of freshwater consumed in high/extremely high water stress countries, and Scope 1 & 2 GHG emissions)

UN Sustainable Development Goals

• Goal 6
• Goal 7
• Goal 9
• Goal 11
• Goal 12
• Goal 13
• Goal 3
• Goal 5
• Goal 8

Mapping of Albemarle’s priorities, values, material topics, and strategic focus areas to the UN SDGs.

Sustainable Products & Innovation

• MercLok™ mercury remediation technology
• Lithium sulfide (Li2S) for next-generation solid-state batteries

Awards & Recognition

• TIME’s 100 Most Influential Companies of 2023
• Newsweek’s America's Most Responsible Companies (5th consecutive year)
• Newsweek’s America's Greatest Workplaces for Diversity
• 10 ACC Responsible Care® Awards
• 2023 R&D 100 Award for MercLok™
• Bloomberg Gender-Equality Index
• 2024 America’s Most JUST Companies (JUST 100)
• Verdantix 2023 EHS Innovation Excellence Award