Commercial, GHG Emissions, Sourcing Renewables  -  April 9, 2024

LyondellBasell Reaches Nearly 90% of 2030 Renewable Target

LyondellBasell achieved almost 90% of the company's 2030 target to secure at least half of its global electricity from renewable sources, amounting to an annual energy savings of nearly 4 million gigajoules.

The global chemical company also issued in 2023 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.

Lyondell also introduced 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 fuel-based equivalent.

Additionally, the company invested 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.

Details were published in its annual sustainability report. 

"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 a statement.

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