Linde (NYSE:LIN) dropped Tuesday after Reuters reported that Russia froze almost $500 million of assets of the German industrial gas company.
Linde had a contract with Russian companies for a new gas complex but notified its partners it had suspended its work due to European Union sanctions imposed after Russia invaded Ukraine.
In mid-December, the company has been included in the Dow Jones Sustainability World Index (DJSI World) and the DJSI North America. Linde is the only company in the chemicals sector that has been included in the DJSI World for twenty consecutive years.
"Sustainability is a fundamental part of what we do every day," said Sanjiv Lamba, Chief Executive Officer, Linde. "We are proud of our unparalleled track record of inclusion in the DJSI World, which is a testament to the hard work and dedication of Linde's employees around the world."
Linde has comprehensive sustainability targets across safety, health & environment, people & community, integrity & compliance. It was named one of the 2022 World's Most Ethical Companies by the Ethisphere Institute. Linde is a member of the United Nations Global Compact, and recently its 2035 absolute emissions reduction target was validated by the Science Based Targets initiative (SBTi).
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.
LIN shares fell $5.89, or 1.8%, to $320.29.
