LyondellBasell has released its annual Sustainability Report with the aim of affecting positive change and is focused on three transformational areas including plastic waste, climate change, and thriving societies. The company announced one of the most ambitious goals of the industry to produce and market 2 million t of recycled and renewable-based polymers annually by 2030. The report showcases LyondellBasell’s strategy and ambitions for the next decade.
„LyondellBasell has been on a multi-year journey to advance the circular economy, and we have made strides in mechanical and advanced recycling, as well as producing renewable-based products,“ said Jim Seward, Senior Vice President Research and Development, Technology and Sustainability. „Our goals underscore what we see possible in the next decade, and our sustainability ambitions require us to adapt our business models. When viewed through the lens of technology and innovation, our track record demonstrates our capacity to advance new collaborations and partnerships for the benefit of society.“
Key elements of LyondellBasell’s Sustainability Report involve taking action on several fronts. It is the company’s ambition to:
- Produce and market 2 million t of recycled and renewable-based polymers annually, increase its investment in the recovery and recycling of plastic, and accelerate solutions to end plastic waste.
- Reduce its CO2 emissions by 15 % per tonne of product produced relative to 2015 levels by 2030.
- Advance diversity, inclusion and equity in the workplace by accelerating initiatives, such as building diversity and inclusion (D&I) into its talent programmes, implementing a D&I Officer position and involving a cross-section of leaders to serve as the D&I Council.
- Join American Chemistry Council and PlasticsEurope industry peers to ensure 100 % of plastic packaging is reused, recycled or recovered by 2040.
Additionally, the company said it will continue to increase recycling and work collaboratively across the value chain as evidenced by LyondellBasell CEO Bob Patel’s instrumental role in the launch of the Alliance to End Plastic Waste and continued involvement as an officer of the organisation. LyondellBasell is also developing advanced recycling with its MoReTec technology, has expanded its mechanical recycling product grades and colour offerings through its 50/50 joint venture, Quality Circular Polymers (QCP), improved the design of plastics to increase recyclability, and worked with brand owners to increase product recyclability. Lastly, the company achieved the first parallel production of polypropylene (PP) and low-density polyethylene (LDPE) made from renewable raw materials at commercial scale.