LyondellBasell (NYSE: LYB) today announced the publication of its 2020 sustainability report. The report highlights the company’s efforts in the areas of ending plastic waste in the environment, helping to address climate change and supporting a thriving society.
“Despite the challenges of 2020, our team made meaningful progress against our goals,” said Bob Patel, CEO of LyondellBasell. “As a company we have taken a very focused and deliberate approach that will help to address some of our world’s greatest challenges while creating long-term value for our stakeholders. These efforts are a core part of our strategy for capturing the opportunities associated with providing sustainable solutions to our customers, further enhancing our resiliency and enabling a more sustainable future.”
The report highlights the company’s progress toward achieving its ambitious plan to produce and market two million metric tons of recycled and renewable-based polymers by 2030, in addition to other accomplishments such as:
- Continuing to provide industry-leading safety performance with top decile injury rates;
- Expanding the capacity of LyondellBasell’s Quality Circular Polymers mechanical recycling joint venture to 55,000 tons per year;
- Successfully starting LyondellBasell’s MoReTec advanced recycling pilot plant in Italy. This technology returns post-consumer plastic waste to its molecular form for use as a feedstock for new polymers. LyondellBasell continues to work toward applying this technology at industrial scale;
- Obtaining the International Sustainability and Carbon Certification (ISCC) organization’s ISCC PLUS certification for its cracker in Wesseling, Germany and European polymer production assets. With this certification, LyondellBasell can provide mass balance certificates for its advanced or molecular recycled and renewable-based polymers;
- Launching a suite of products supporting recycled or renewable-based content under the Circulen brand name;
- Joining the United Nations Global Compact (UNGC) and aligning LyondellBasell’s sustainability approach to the United Nations’ Sustainable Development Goals;
- The appointment of a Chief Talent & DEI Officer and the formation of a Diversity, Equity and Inclusion Council made up of employees to accelerate enhancements to the workplace and culture;
- Making investments in the communities where the company operates through more than 900 grants to local charitable organizations; supporting the needs of food banks in 17 countries through special grants and 6,000 employee volunteer hours through LyondellBasell’s annual Global Care Day program.
LyondellBasell is also working to reduce its carbon footprint. The company previously announced a goal of achieving a 15 percent reduction in CO2(equivalent) emissions per metric ton of product produced by 2030 compared with 2015. The company is expanding its climate risk assessment, using the Task Force on Climate-related Financial Disclosures’ recommendations to further develop and define its climate ambitions for 2030 and beyond.
The report, which is available on www.lyb.com/sustainability, is aligned to the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) standards and serves as the company’s first United Nations Global Compact Communication on Progress.
LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. More information about LyondellBasell can be found at www.LyondellBasell.com.