LyondellBasell(US:LYB) Newsfilterยท2025-04-15 12:00Core Insights - LyondellBasell released its 2024 Sustainability Report, showcasing advancements in circular and low-carbon solutions, climate action, and operational excellence [1][2] Sustainability Highlights - The report titled "From Vision to Value" emphasizes the company's commitment to sustainability as a means to create long-term value [2][3] - The company aims to achieve its 2030 and 2050 sustainability goals through investments in innovative technologies and collaborations [3] Value Enhancement Program (VEP) - The VEP initiative has generated a cumulative $800 million in recurring annual EBITDA and reduced annual carbon emissions by approximately 310,000 metric tons [5] Circular Economy Progress - LyondellBasell increased the volume of recycled and renewable-based polymers by 65%, exceeding 200,000 metric tons, and is targeting 2 million metric tons annually by 2030 [5] MoReTec-1 Project - Construction of the MoReTec-1 chemical recycling plant in Wesseling, Germany, is underway to convert hard-to-recycle plastic waste into new raw materials [5] Carbon Emission Reduction - The company completed the shutdown of refining operations at its Houston refinery, which is expected to reduce annual Scope 3 emissions by approximately 40 million metric tons [5] Renewable Energy Initiatives - New power purchase agreements secured in 2024 will help LyondellBasell meet its goal of sourcing at least 50% of its electricity from renewable sources by 2030 [5] Safety Achievements - Out of over 90 manufacturing sites, 70 achieved GoalZERO, and the company recorded its second lowest total recordable incident rate of 0.127 [5] Strategic Growth - The acquisition of APK AG adds Newcycling technology to LyondellBasell's portfolio for recycling low-density polyethylene (LDPE) waste [5] Industry Recognition - LyondellBasell ranked first among plastics producers in BloombergNEF's 2024 circular economy company rankings and maintained an AA ESG rating from MSCI [5]