LyondellBasell Recognized as ESG Leader

Rhea-AI Summary

LyondellBasell (NYSE: LYB) received an AA rating in the MSCI ESG Ratings Assessment, moving from an 'A' to 'leader' category due to its actions on carbon mitigation and corporate governance. This reflects the company's commitment to ESG activities and sustainable living solutions.

Positive

• LyondellBasell's improved AA rating demonstrates its strong commitment to ESG practices and reflects positively on its climate strategy and corporate governance.
• The company's focus on sustainability and transparency is evident in its efforts to progress ESG activities in a positive direction.

Negative

• None.

HOUSTON and ROTTERDAM, Netherlands, July 20, 2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it received a rating of AA, on a scale of CCC to AAA, in the MSCI ESG Ratings Assessment and is now part of the 'leader' category. The new rating is an improvement from the 'A' status LyondellBasell received last year and is reflective of the actions the company has taken on carbon mitigation and its industry-leading corporate governance practices.

"Our ESG success is measured by the meaningful progress we continue to make on our climate strategy, transparency and the actions we take," said Andrea Brown, LyondellBasell chief sustainability officer. "We believe in creating solutions for everyday sustainable living, and an important component of this is ensuring we maintain our momentum in progressing our ESG activities in a positive direction."

AA ratings are awarded to the top 10% of companies within each sector included in the index — those who are leading their industry in managing the most significant ESG risks and opportunities. For more information, please see the MSCI ESG Ratings website.

Disclaimer
The use by LyondellBasell of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of LyondellBasell by MSCI. MSCI services and data are the property of MSCI or its information providers and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI.

About us
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world's largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

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SOURCE LyondellBasell Industries

FAQ

What is the significance of LyondellBasell's AA rating in the MSCI ESG Ratings Assessment?

The AA rating places LyondellBasell in the 'leader' category, signifying its position as one of the top 10% of companies within its sector in managing significant ESG risks and opportunities.

What led to the improvement in LyondellBasell's rating?

The improvement is attributed to the company's actions on carbon mitigation and its industry-leading corporate governance practices.

What are the implications of the AA rating for investors?

The AA rating reflects positively on LyondellBasell's long-term sustainability and governance practices, which may enhance investor confidence in the company's ESG initiatives.