DuPont Chairman and CEO Charles O. Holliday, Jr., today outlined several public commitments the company will make as it pursues wide-ranging business opportunities based on biotechnology.

Speaking at the Chief Executives Club of Boston, Holliday described  biotechnology as a "critical enabling technology that is very broad and offers many platforms for building a sustainable future world. From our standpoint at DuPont, we hope to bring breadth, flexibility and an obsession for safety to this emerging technology."

He noted that the current public debate over biotechnology has been narrowly focused on the genetic enhancement of food and perceived risks. "I believe this debate needs to be expanded to include the broader potential uses of biotechnology and should include a full discussion of benefits as well as risks," Holliday said.

"Biotechnology offers us the flexibility to shape our strategies to meet the changing needs and wants of the consuming public," he said. "This may be through improved seeds, foods and pharmaceuticals, as well as through chemicals, polymers and other materials made using processes with lower environmental impact fed by renewable feedstocks and fueled by renewable energy."

Holliday committed DuPont to four actions related to the company's use of biotechnology:

• DuPont will engage and listen to all interested parties, including biotechnology critics, to understand their positions and seek advice on strategies and direction. As part of this commitment, DuPont will establish a global advisory panel to guide its actions in biotechnology, including regular audits and public reporting.
  "One of the first things we must do is acknowledge public concerns about unknown risks … and address (them) openly," Holliday said. "History has shown that new technologies are not without risk. But history has also taught us that the benefits of a new technology can be much greater than the risks."

• DuPont will advocate informed consumer choice through meaningful information and product assurances. Consumers ultimately make the choice, but they should have "more and better science-based information … to help with these choices," Holliday said. "Biotechnology cannot be about removing choice; it must be about increasing choice." He added that labeling is a key issue that must be addressed.

• DuPont will derive 25 percent of its revenues in 2010 from non-depletable raw materials, such as carbohydrates. This compares to five percent of revenues in 1998. "We have developed a growing pipeline of technologies to produce materials like polyester from plants, microbes and bio-processes that eliminate many of the shortcomings of classical chemical processes. As we look ahead, the possibilities are endless," Holliday said.

• DuPont will practice biotechnology with the same safety standards that have marked nearly 200 years of experience in industrial safety. Holliday noted that DuPont is one of the safest industrial companies in the world – ten times safer than the industrial average. "We support whatever steps may be necessary to ensure that biotechnology, in all areas, is developed and used safely," he said.

"DuPont is on a journey to become a 'sustainable growth' company – one that creates increasing shareholder and societal value while reducing its environmental footprint," Holliday said. "I believe biotechnology will be a critical enabling technology for us to achieve sustainable growth."

"The question is whether society will allow us to use it (biotechnology) or whether society will reject it before the benefits can be demonstrated ," he  said. "What we decide will have a direct impact on whether we can achieve the larger goal of creating a sustainable global economy or if we will let the next few generations try to make their way in a world of collapsing ecosystems."

DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 65 countries and has 92,000 employees.

A complete text of the speech is available on the Internet at http://www.dupont.com/corp/whats-new/speeches/chad/biotech.html

Company news release
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