LyondellBasell's 2024 Sustainability Report

LyondellBasell released on 15 April its 2024 Sustainability Report, demonstrating significant progress in circular and low-carbon solutions, climate action and operational excellence.

"At LyondellBasell sustainability is an opportunity to reimagine the future and create long-term value," said Peter Vanacker, CEO of LyondellBasell. "Our 2024 report, “From Vision to Value”, highlights how we are rethinking the status quo and accelerating progress towards a circular and low-carbon future by investing in innovative technologies, strengthening collaborations, and embedding sustainability into our core strategy."

In 2024 the company increased volumes of recycled and renewable-based polymers by 65% to over 200,000 metric tons, progressing toward its 2030 goal of producing and marketing 2 million metric tons annually and capturing incremental Ebitda of more than one billion dollars.

To meet the rising demand for circular polymers, the company broke ground on its first commercial-scale chemical recycling plant MoReTec-1 in Wesseling, Germany, to convert hard-to-recycle plastic waste into new raw materials, including for contact-sensitive packaging.

New power purchase agreements (PPAs) secured in 2024 will enable the company to meet its target of sourcing at least 50% of electricity from renewable sources by 2030. Moreover, as for sustainability, it ranked first among plastics producers in BloombergNEF’s 2024 circular economy company rankings and retained its AA ESG rating from MSCI.

In the first quarter of 2025 LyondellBasell safely completed the shutdown of refining operations at its Houston refinery. This will reduce annual Scope 3 emissions by approximately 40 million metric tons.

"As we look to the future, we remain steadfast in our commitment to sustainability and innovation. Our investments in circular and low-carbon solutions, along with our dedication to safety and operational excellence, will drive our progress toward achieving our 2030 and 2050 goals. We are transforming our vision into lasting value, ensuring that we create meaningful impact for our customers, shareholders and society", concluded Peter Vanacker.