LyondellBasell demonstrates progress toward industry leadership in 2023 sustainability report

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LyondellBasell (LYB) publishes its annual sustainability report 'Everyday Sustainability,' highlighting progress in sustainability goals. Key achievements include issuing a $500 million green bond, investing in plastic-waste recycling, and achieving renewable energy targets.

HOUSTON and ROTTERDAM, Netherlands, April 9, 2024 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today 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.

For more information, read the 2023 LyondellBasell sustainability report, Everyday Sustainability here.

About LyondellBasell
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

 

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SOURCE LyondellBasell Industries

FAQ

What is the title of LyondellBasell's annual sustainability report?

LyondellBasell's annual sustainability report is titled 'Everyday Sustainability.'

What are the three critical sustainability challenges focused on in the report?

The report focuses on ending plastic waste, taking climate action, and supporting a thriving society.

What was the purpose of issuing a $500 million green bond?

The green bond proceeds were used to fund new or existing eligible green projects in circular economy, renewable energy, pollution prevention, and energy efficiency.

What is the name of the advanced recycling plant that LyondellBasell is building?

LyondellBasell is building the MoReTec-1 advanced recycling plant at its Wesseling, Germany site.

What is the new product range introduced by LyondellBasell for lower carbon footprint?

LyondellBasell introduced the +LC (Low Carbon) solutions product range using alternative carbon sources for a lower carbon footprint.

What percentage of global electricity does LyondellBasell aim to secure from renewable sources by 2030?

LyondellBasell aims to secure at least half of its global electricity from renewable sources by 2030.

What percentage of senior leadership roles are women in LyondellBasell globally?

Women make up 25% of senior leadership roles globally at LyondellBasell.

How many manufacturing sites achieved GoalZERO in 2023?

60 manufacturing sites achieved GoalZERO (zero injuries, incidents, and accidents) in 2023.