SABIC: Best ESG Responsible Petrochemical Company Global 2021
In 45 years SABIC has become the second most valuable chemical brand in the industry. In 1985, it produced 6.3 million tonnes, today it produces 60.8 million tonnes with operations across 50 countries. SABIC has also embraced the challenge of becoming an industry leader in ESG. Since 2010, it has proactively set and progressed towards ambitious sustainability targets. This includes a 25 percent reduction in GHGs, water intensity, and energy intensity by 2025. In 2019, it was a founding member of the Alliance to End Plastic Waste In 2020, it actively participated in G20 discussions on the circular economy. Its TRUCIRCLE circle economy initiative is continuing to deliver; SABIC has become the first petrochemical company to scale up a process for recycling used mixed plastics back to the original polymer for commercial application. Other 2020 highlights include the production of blue ammonia for zero-carbon power generation using carbon storage; this was a joint project with ARAMCO and the Japanese Institute of Energy Economics. In addition it supports the Sustainable Development Goals and has made a commitment to focusing on ten of them. This includes a $40 million investment in corporate social responsibility programmes across 34 countries. On top of this it has recently formed an ESG Reporting Steering Committee to maintain its high ESG standards. The CFI.co judges are thus proud to present SABIC as the winner of the global award for Best ESG Responsible Petrochemical Company for the second consecutive year.
