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LyondellBasell releases sustainability report

Published by , Editorial Assistant
Hydrocarbon Engineering,

LyondellBasell has announced the publication of its 2021 sustainability report, 'Future Focused'. The report details the company's ambitions to help end plastic waste in the environment, address climate change and support a thriving society.

This includes:

  • The pathway to meeting the company's greenhouse gas (GHG) emissions reduction targets.
  • Plans to ramp up mechanical and advanced recycling of plastics and the use of renewable-based feedstock.
  • A new goal to assess the company's key suppliers using sustainability criteria.
  • New Diversity, Equity and Inclusion (DEI) efforts, including the addition of ambitious targets.

"We are future-focused and we believe our goals for more circular and sustainable plastics and decarbonisation are critical to the long-term success of LyondellBasell. They help create a better future for our employees and our communities, as well as advance our customers' sustainability ambitions," said Kenneth Lane, Interim CEO of LyondellBasell. "A net zero economy without plastic waste in the environment will require collaboration throughout the value chain and is key to securing society's transition toward a more sustainable future."

In 2021, LyondellBasell joined a number of collaborative platforms aimed at accelerating the positive impact on areas aligned with our sustainability strategy. Examples are:

  • Cyclyx International, a feedstock management consortium, with a mission to increase the recycling rate of plastic from 10% to 90%.
  • Together for Sustainability, a joint initiative of chemical companies focused on developing and sharing best practices to drive and deliver tangible, measurable improvements in the sustainability performance of supply chains.
  • In Houston, the company joined with 10 industry peers to support large-scale development of carbon capture and storage (CCS) technology.

The company is also investing catalytic capital into funds focused on advancing a circular economy. For every dollar that LyondellBasell invests in venture funds addressing the plastic waste challenge, the company aims to help catalyse another US$5 from co-investors by 2030. This includes commitments of more than US$10 million to circular plastics funds led by Closed Loop Partners in the US, and Infinity Recycling in Europe.

The company also recently established two new goals to advance DEI in the workplace as it seeks to support a thriving society. LyondellBasell aims to achieve gender parity in senior leadership globally by 2032 and increase the number of people from underrepresented groups in US senior leadership roles to reflect to general population ratio by 2032.

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