LyondellBasell Advances on Sustainability Ambitions with New Report

LyondellBasell has unveiled its latest annual sustainability report, “Everyday Sustainability,” chronicling the company’s strides over the past year toward solidifying its position as a frontrunner in the sustainability arena. This report delves into LyondellBasell’s concerted efforts to address three pivotal sustainability challenges: ending plastic waste, climate action, and fostering a thriving society.

Under the leadership of CEO Peter Vanacker, the company has integrated sustainability into its strategic framework, emphasizing safety, operational excellence, and value creation. “Over the last year, we embedded sustainability into our new company strategy and progressed our sustainability-focused ambitions… making everyday sustainability a reality,” Vanacker remarked.

Key highlights from the 2023 report include:

• The issuance of a $500 million green bond to finance eligible green projects in circular economy, renewable energy, pollution prevention and control, and energy efficiency.
• Investment in plastic-waste sorting and recycling operations across Europe, Asia, and North America, aiming to offer comprehensive sustainable solutions.
• The decision to construct a commercial-scale advanced recycling plant, MoReTec-1, in Wesseling, Germany, utilizing the company’s proprietary MoReTec technology.
• Launch of the +LC (Low Carbon) product range, offering customers alternatives with reduced carbon footprints.
• Progress toward the company’s 2030 renewable electricity goal, with nearly 90% achieved, alongside significant annual energy savings through implemented projects.
• An increase in diversity within senior leadership, with women occupying 25% of global senior roles, a 3% increase from the previous year, and underrepresented groups making up 19% of executive positions in the U.S., marking a 5% increase.
• Achievement of GoalZERO at 60 manufacturing sites and 67 sites reporting no injuries in 2023.

Vanacker affirmed the company’s commitment to transparent sustainability reporting: “We are committed to disclosing our sustainability performance, providing transparency and demonstrating how we support everyday sustainability.”

LyondellBasell’s report, “Everyday Sustainability,” underscores the company’s ongoing dedication to integrating sustainability into every facet of its operations, positioning it as an industry leader in the sustainability domain.