Saudi chemicals giant unveils ambitious targets relating to resource efficiency, climate change, food security, infrastructure and the environment
SABIC, the Saudi-based global chemical giant, on Thursday launched its sustainability roadmap outlining ambitious targets relating to resource efficiency, climate change, food security, infrastructure and preservation of the environment.
The SABIC Sustainable Development Roadmap 2019, aligned to the United Nations Sustainable Development Goals, forms part of the company’s 2025 strategy.
It spans its entire value chain from sourcing more sustainable feedstock, improving energy efficiency across operations, increased focus on sustainable product and process innovation, to advocacy and fostering collaborations to mobilize multi-stakeholder action.
The roadmap outlines the company’s new initiatives that will make significant contributions to the UN’s SDG targets, as well as providing growth opportunities for the business.
SABIC has committed to reducing its energy consumption, greenhouse gas emissions and water usage intensity by 25 percent by 2025 from 2010 levels.
It has also recently announced that it is scaling-up a pioneering world-first process to return mixed plastic waste back to the original polymer to help drive the circular economy.
From the 17 SDGs developed by the UN, SABIC said it has identified 10 as strategic focus areas where it can make the greatest positive impact including zero hunger, clean water and sanitation, affordable and clean energy, decent work and economic growth, industry, innovation and infrastructure, sustainable cities and communities, responsible consumption and productiona and climate action.
“As one of the world’s leading and most forward-thinking petrochemical companies, SABIC has already embedded many environmental, social and economic dimensions of sustainability into its DNA, so we welcome the opportunity to strategically align our business with the UN’s SDGs,” said Bob Maughon, executive vice president sustainability, technology & innovation chief technology and sustainability officer.
“With the SDGs enabling a framework to translate the world’s most urgent challenges into actionable solutions, those organizations that put advanced product design and innovation at the forefront of their business strategy can not only help achieve these vitally important goals, but they can also benefit from the significant opportunities created by new and changing market demands.”For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.