The company's annual sustainability report, titled Everyday Sustainability, provides a detailed overview of its progress in becoming a leader in sustainability, focusing on ending plastic waste, taking climate action, and supporting a thriving society.
“We see sustainability as a way to create value. In the past year, we have integrated sustainability into our new company strategy and advanced our sustainability-focused goals, while maintaining a strong focus on safety, operational excellence, and value creation. Our aim is to become a leader in sustainability, moving from exploring possibilities to making everyday sustainability a reality.” said Peter Vanacker, CEO of LyondellBasell.
In 2023, the company reported sustainability highlights including:
- The issuance of 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.
- Investments in plastic-waste sorting and recycling operations in Europe, Asia, and North America to expand sustainable solutions across multiple recycling processes.
- Deciding to build a first-of-its-kind, commercial-scale advanced recycling plant at the company’s Wesseling, Germany site, using the company’s proprietary technology. MoReTec-1. The plant will be located at the company’s Wesseling, Germany site and will use the company’s proprietary MoReTec technology.
- Introduction of a new product range called +LC (Low Carbon) solutions, which utilizes alternative sources of carbon to offer customers a lower carbon footprint compared to the fossil-based equivalent.
- Progressing towards achieving almost 90% of the company’s 2030 target to secure at least half of its global electricity from renewable sources, and implementing projects resulting in annual energy savings of nearly 4 million gigajoules.
- Increasing the representation of women and individuals 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.
- In 2023, 60 manufacturing sites achieved GoalZERO (zero injuries, zero incidents, and zero accidents), and 67 sites were injury-free.
“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.
