LyondellBasell joins the United Nations Global Compact

Rhea-AI Summary

LyondellBasell (NYSE: LYB) has officially joined the United Nations Global Compact, emphasizing its commitment to sustainability. The initiative encourages companies to align with principles on human rights, labor, and anti-corruption. CEO Bob Patel highlighted the company's focus on reducing plastic waste and addressing climate change. In 2020, LyondellBasell set ambitious recycling targets and launched its MoReTec molecular recycling pilot in Italy. The company is also a founding member of the Alliance to End Plastic Waste, reflecting its dedication to eliminating environmental plastic waste.

Positive

• Joined U.N. Global Compact, enhancing sustainability commitment.
• Set ambitious targets for recycled and renewable-based polymers.
• Launched MoReTec molecular recycling pilot plant in Italy.
• Founding member of the Alliance to End Plastic Waste.

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• None.

HOUSTON, Dec. 10, 2020 /PRNewswire/ -- LyondellBasell (NYSE: LYB) one of the world's largest plastics, chemicals and refining companies today announced it has joined the United Nations (U.N.) Global Compact, the world's largest corporate sustainability initiative. Under the U.N. Global Compact, signatories are encouraged to align their operations and strategies with key principles on human rights, labor and anti-corruption.

"At LyondellBasell, we have a culture of accomplishing goals through what we call 'the power of many.' Addressing the challenges facing our world will require global commitment and collaboration between the private sector, NGOs and governments," said Bob Patel, CEO Of LyondellBasell. "The goals of the U.N. Global Compact align well with our company's focus on eliminating plastic waste in the environment, addressing climate change and supporting a thriving society. We are proud to be part of this important, collective effort." 

In 2020, LyondellBasell advanced its sustainability agenda by setting ambitious targets for recycled and renewable-based polymers, progressing on the goal of zero polymer pellet loss from operations and transportation and starting up the MoReTec molecular recycling pilot plant in Ferrara, Italy. In addition, the company is one of the founding members of the Alliance to End Plastic Waste (AEPW), the first global, cross value chain initiative dedicated to eliminating plastic waste in the environment.

For more information about LyondellBasell's sustainability efforts, visit the company's sustainability page. For more information on the company's involvement as a participant of the initiative, visit the company's profile page on the UN Global Compact website.

About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polymer compounds and the largest licensor of polyolefin technologies. LyondellBasell offers a circular product portfolio that provides customers with solutions to increase recycled plastic content in their applications with high quality mechanically recycled polymers. In 2020, LyondellBasell was named for the third consecutive year to Fortune magazine's list of the "World's Most Admired Companies." More information about LyondellBasell can be found at www.LyondellBasell.com.

 

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SOURCE LyondellBasell Industries

FAQ

What recent sustainability initiative has LyondellBasell (LYB) joined?

LyondellBasell has joined the United Nations Global Compact.

What are LyondellBasell's goals related to plastic waste?

LyondellBasell aims to eliminate plastic waste and has set targets for recycled and renewable-based polymers.

Where is LyondellBasell's molecular recycling pilot plant located?

The MoReTec molecular recycling pilot plant is located in Ferrara, Italy.

Is LyondellBasell involved in any initiatives to combat plastic waste?

Yes, LyondellBasell is a founding member of the Alliance to End Plastic Waste.