LyondellBasell's sustainability report highlights eco-friendly efforts

The other accomplishments mentioned in the report include 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 to return post-consumer plastic waste to its molecular form for use as a feedstock for new polymers.

LyondellBasell has also obtained the International Sustainability and Carbon Certification (ISCC) organisation'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, said the report.

Additionally, the company has launched a suite of products supporting recycled or renewable-based content under the Circulen brand name; joined the United Nations Global Compact (UNGC) and aligning LyondellBasell's sustainability approach to the United Nations' Sustainable Development Goals; and appointed a Chief Talent & DEI Officer and formed a Diversity, Equity and Inclusion Council made up of employees to accelerate enhancements to the workplace and culture.

LyondellBasell has also made investments in the communities where the company operates through more than 900 grants to local charitable organisations; supporting the needs of food banks in 17 countries through special grants and 6,000 employee volunteer hours through its annual Global Care Day programme, the report added.

"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."

LyondellBasell is also working to reduce its carbon footprint. The company previously announced a goal of achieving a 15 per cent 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, it said in a press release.

The report 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.

Fibre2Fashion News Desk (KD)