LyondellBasell releases 2021 sustainability report

• meeting the company's greenhouse gas emissions reduction targets;

• ramping up mechanical and advanced recycling of plastics and the use of renewable-based feedstock;  

• a new goal to assess the company's key suppliers using sustainability criteria; and,  

• new diversity, equity and inclusion (DEI) efforts, including the addition of ambitious targets.

"We are future-focused and we believe our goals for more circular and sustainable plastics and decarbonization are critical to the long-term success of LyondellBasell,” says Kenneth Lane, interim CEO of LyondellBasell. “They help create a better future for our employees and our communities, as well as advance our customers' sustainability ambitions. A net-zero economy without plastic waste in the environment will require collaboration throughout the value chain and is key to securing society's transition toward a more sustainable future."  

The plan calls for the production of two million metric tons of recycled and renewable-based polymers to be marketed annually by 2030. During its production processes, the company is aiming for zero plastic pellet loss to the environment. The company also plans for net-zero greenhouse gas emissions by 2050 with a 30 percent emissions reduction from operations by 2030.   

LyondellBasell says it also plans to increase the number of people from underrepresented groups in U.S. senior leadership roles to reflect the general population ratio by 2032. Globally, the company plans to achieve gender parity in senior leadership by 2032.  

In 2021, LyondellBasell joined several collaborative platforms aimed at accelerating the positive impact on areas aligned with its sustainability strategy. This includes:  

• Cyclyx International, a feedstock management consortium, with a mission to increase the recycling rate of plastic from 10 percent to 90 percent;  

• Together for Sustainability, a joint initiative of chemical companies focused on developing and sharing best practices to drive and deliver tangible, measurable improvements in the sustainability performance of supply chains; and,  

• In Houston, the company joined with 10 industry peers to support the large-scale development of carbon capture and storage technology.  

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