Country for PR: United States
Contributor: PR Newswire New York
Monday, September 28 2020 - 21:00
LyondellBasell Sustainability Report Sets Ambitious Plastic Waste Targets
HOUSTON and ROTTERDAM, Netherlands, Sept. 28, 2020 /PRNewswire-AsiaNet/ --

LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining 
companies in the world, today released its annual Sustainability Report with 
the aim of affecting positive change and is focused on three transformational 
areas including plastic waste, climate change, and thriving societies. 
LyondellBasell announced one of the most ambitious goals of the industry to 
produce and market two million metric tons of recycled and renewable-based 
polymers annually by 2030. The report showcases LyondellBasell's strategy and 
ambitions for the next decade.

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"LyondellBasell has been on a multi-year journey to advance the circular 
economy, and we have made strides in mechanical and advanced recycling, as well 
as producing renewable-based products," said Jim Seward, Senior Vice President 
Research and Development, Technology and Sustainability. "Our goals underscore 
what we see possible in the next decade, and our sustainability ambitions 
require us to adapt our business models. When viewed through the lens of 
technology and innovation, our track record demonstrates our capacity to 
advance new collaborations and partnerships for the benefit of society."

Key elements of the LyondellBasell's Sustainability Report involve taking 
action on several fronts. It is the company's ambition to:

    -- Produce and market two million metric tons of recycled and renewable
       based polymers annually, increase its investment in the recovery and
       recycling of plastic, and accelerate solutions to end plastic waste. 
    -- Reduce its CO2 emissions by 15 percent per ton of product produced
       relative to 2015 levels by 2030. 
    -- Advance diversity, inclusion and equity in the workplace by accelerating
       initiatives, such as building diversity and inclusion (D&I) into our
       talent programs, implementing a D&I Officer position and involving a
       cross-section of leaders to serve as the D&I Council. 
    -- Join American Chemistry Council and Plastics Europe industry peers to
       ensure 100 percent of plastic packaging is reused, recycled or recovered
       by 2040. 

Additionally, the company continues to increase recycling and work 
collaboratively across the value chain as evidenced by LyondellBasell CEO Bob 
Patel's instrumental role in the launch of the Alliance to End Plastic Waste 
and continued involvement as  an officer of the organization. LyondellBasell is 
also developing advanced recycling with its MoReTec technology, has expanded 
its mechanical recycling product grades and color offerings through its 50/50 
joint venture, Quality Circular Polymers (QCP), improved the design of plastics 
to increase recyclability, and worked with brand owners to increase product 
recyclability. Lastly, the company achieved the first parallel production of 
polypropylene (PP) and low-density polyethylene (LDPE) made from renewable raw 
materials at commercial scale. 

LyondellBasell's sustainability report is available on the company website at

View the "We see possible" video by clicking here [ 
] to better understand the LyondellBasell's approach to sustainability.

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. 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

The statements in this release and relating to matters that are not historical 
facts are forward-looking statements.  These forward-looking statements are 
based upon assumptions of management which are believed to be reasonable at the 
time made and are subject to significant risks and uncertainties. Actual 
results could differ materially based on factors including, but not limited to, 
the business cyclicality of the chemical and polymers industries; our ability 
to produce and market recycled and renewable-based polymers; our ability to 
successfully reduce our emissions; the success of company and industry efforts 
to advance the reuse and recycling of plastics;  competitive product and 
pricing pressures; labor conditions; technological developments, and our 
ability to develop new products and process technologies; and potential 
governmental regulatory actions. Additional factors that could cause results to 
differ materially from those described in the forward-looking statements can be 
found in the  "Risk Factors" sections of our Form 10-K for the year ended 
December 31, 2019,  and our Form 10-Q for the quarter ended March 31, 2020, 
which can be found at on the Investor Relations page and 
on the Securities and Exchange Commission's website at

SOURCE:  LyondellBasell Industries

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