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APRIL 22,2024

LyondellBasell demonstrates progress toward industry leadership in 2023 sustainability report

2024-04-22 08:50

LyondellBasell (NYSE: LYB)  published its annual sustainability report titled, Everyday Sustainability. The publication offers an in-depth review of the company's progress over the last year toward establishing itself as an industry leader in sustainability by focusing on three critical sustainability challenges: ending plastic waste, taking climate action, and supporting a thriving society.
"We embrace sustainability as an opportunity to create value. Over the last year, we embedded sustainability into our new company strategy and progressed our sustainability-focused ambitions, while remaining laser-focused on safety, operational excellence and value creation. As we progress toward establishing ourselves as an industry leader in sustainability, we have moved from unlocking possibilities to making everyday sustainability a reality," said Peter Vanacker, CEO of LyondellBasell.
In 2023, the company reported sustainability highlights including:
Issuing an inaugural $500 million green bond, with proceeds used to fund new or existing eligible green projects in the areas of circular economy, renewable energy, pollution prevention and control, and energy efficiency.
Investing upstream in plastic-waste sorting and recycling operations in Europe, Asia and North America to help build a complete offering of sustainable solutions across multiple recycling processes.
Reaching a final investment decision to build a first of its kind, commercial scale advanced recycling plant, MoReTec-1. The plant will be located at the company's Wesseling, Germany site and will use the company's proprietary MoReTec technology.
Introducing a new product range called +LC (Low Carbon) solutions, which uses alternative sources of carbon to offer customers a lower carbon footprint compared to the fossil-based equivalent.
Achieving almost 90% of the company's 2030 target to secure at least half of its global electricity from renewable sources and implemented projects translating into an annual energy savings of nearly 4 million gigajoules.
Increasing the number of women and people from underrepresented groups in senior leadership roles; women now make up 25% of such roles globally, a 3% increase from 2022 and people from underrepresented groups now make up 19% of executive roles in the U.S., a 5% increase compared with 2022.
60 manufacturing sites achieved GoalZERO (zero injuries, zero incidents and zero accidents), and 67 sites were injury–free in 2023.
"We are committed to disclosing our sustainability performance, providing transparency and demonstrating how we support everyday sustainability," said Vanacker.


DisclaimerThe Institute of Plastic Research makes every effort to ensure the accuracy of the information, reliability of the data, and objectivity and fairness of the content and viewpoints described herein. However, we do not guarantee the accuracy and completeness of the information. Any losses or legal consequences resulting from actions taken based on this information are the sole responsibility of the individual undertaking them.

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