LyondellBasell details trajectory to 2030 in 2021 sustainability report

“We are forward-looking and believe that our goals for more circular and sustainable plastics and decarbonization are critical to the long-term success of LyondellBasell. They help create a better future for our employees and our communities, as well only to advance our customers’ sustainability ambition,” said Kenneth Lane, interim CEO of LyondellBasell. “A net-zero economy with no plastic waste in the environment will require collaboration across the value chain and is key to ensuring society’s transition to a more sustainable future.”

In 2021, LyondellBasell joined a number of collaborative platforms aimed at accelerating positive impact on areas aligned with our sustainability strategy. Examples are:

  • Cyclyx International, a raw materials management consortium, whose mission is to increase plastic recycling rates from 10% to 90%;
  • Together for Sustainability, a joint initiative of chemical companies focused on developing and sharing best practices to drive and deliver tangible and measurable improvements in the sustainability performance of supply chains; and,
  • In Houstonthe company has partnered with 10 industry peers to support the large-scale development of carbon capture and storage technology.

The company also invests catalytic capital in funds focused on promoting a circular economy. For every dollar LyondellBasell invests in venture capital funds addressing the plastic waste challenge, the company aims to help catalyze another five dollars co-investors by 2030. This includes commitments of more than $10 million to circular plastic funds led by Closed Loop Partners in United States and Infinity Recycling in Europe.

The company also recently established two new goals to advance DEI in the workplace as it seeks to support a thriving society. LyondellBasell aims to achieve gender parity in senior leadership globally by 2032 and increase the number of people from underrepresented groups in senior leadership positions in the United States to reflect the ratio of the general population by 2032.

For more information, please read the 2021 sustainability report “Future Focused” here.

About LyondellBasell
As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best-operated, and most valued company in our industry. The company’s products, materials and technologies advance sustainable solutions for food security, access to clean water, healthcare and energy efficiency in more than 100 international markets. LyondellBasell places a high priority on diversity, equity and inclusion and advances good with a focus on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named one of the “World’s Most Admired Companies” by FORTUNE magazine for the fifth consecutive year. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

Forward-looking statements
Statements in this release regarding matters that are not historical facts are forward-looking statements. These forward-looking statements are based on the expectations and assumptions of LyondellBasell’s management, including expectations based on third-party information and projections, which are believed to be reasonable at the time they are made and are subject to significant risks and uncertainties. . In addition, all statements referring to LyondellBasell’s emissions reduction, circularity, diversity, equity and inclusion goals or other sustainability goals and related efforts are forward-looking statements. Actual results could differ materially depending on factors such as, but not limited to, market conditions; cyclical nature of the chemicals, polymers and refining industries; the availability, cost and price volatility of raw materials and utilities, in particular the cost of oil, natural gas and associated natural gas liquids; our ability to achieve our sustainability goals, including the ability to operate safely, increase production of recycled and renewable polymers and reduce our greenhouse gas emissions and energy consumption; the implementation of new technologies and the ability to derive the expected benefits; our ability to access capital to fund our climate-related initiatives; actions of our suppliers and customers, including the use of the Circulate product family; our ability to source renewable energy and reduce our dependence on coal; uncertainties and impacts related to the extent and duration of the pandemic; competitive pressures on products and prices; working conditions; business interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failures, unplanned downtime, supplier interruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation disruptions, spills and releases and other environmental hazards); supply/demand balances for our products and those of our joint ventures, and the related effects of production capacities and industry operating rates; our ability to manage costs; future financial and operating results; developments in climate change; legal and environmental proceedings; our ability to achieve gender parity and increase the representation of underrepresented groups in the United States in senior management; tax rulings, consequences or procedures; technological developments and our ability to develop new products and processes; and potential government regulatory actions, including climate-related disclosure requirements. Other factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2021 and in our subsequent filings with the SEC, which may be viewed at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov.

SOURCE LyondellBasell Industries

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