Ineos publishes 2023 sustainability report

Global petrochemicals manufacturer Ineos, London, has published its global sustainability report for 2023, which it says has been prepared in line with Global Reporting Initiative (GRI) standards and externally assured by audit, tax and advisory services firm KPMG.

In a news release, Ineos says it remains focused on its strategic goals set throughout 2023, which include expanding its presence in key markets, giving assets a new lease of life and developing new technologies. At the same time, the company says it “advanced its environmental objectives while maintaining the highest standards in safety, business conduct and the treatment of people throughout our operations and value chains.”

RELATED: Ineos says Belgian PVC recycling lines now operating

The report highlights a 22 percent reduction in greenhouse gas (GHG) emissions compared to 2019. Ineos says the emission reductions are attributed to major clean power deals supplying several of its sites with renewable electricity, as well as optimization measures and step changes in its processes across its sites. Lower production levels due to economic conditions in 2023 also played a significant role, the company says, with a 10 percent year-on-year reduction in energy consumption.

Ineos’ report also highlights its role in Project Greensand, which initiated the world’s first cross-border offshore CO₂ storage intended to mitigate climate change in March 2023. Ineos says it demonstrated the capture of CO₂ from its Antwerp site in Belgium, transportation to the Danish North Sea and injection into a depleted oil well for permanent storage.

Ineos says it remains committed to playing its part in the transition to a circular and bio-based economy and continues to make progress with its 2025 and 2030 polymer pledges. The report says that in 2023, Ineos added circular flexible packaging and polyvinyl chloride (PVC) to its product portfolio, as well as bio-based acrylonitrile, acetonitrile and low-carbon PVC. It also commissioned new facilities to incorporate pyrolysis oil made from recycled plastic scrap into its cracking operations in Cologne, Germany.

The report also highlights the company’s focus on the health and safety of its workforce, contractors and site visitors. In 2023, Ineos says its sites recorded 0.19 injuries per 200,000 hours worked for its employees and contractors combined.

“Improving the sustainability of its business and operations is central to the way Ineos works,” the company says. “It is of critical importance to its employees, partners and customers, to the communities in which it operates and to its investors. It drives innovation across all Ineos businesses and sites.”

The full report can be found here.