HOUSTON, Feb. 2, 2022 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it has been named to FORTUNE Magazine's 2022 list of the "World's Most Admired Companies." LyondellBasell has received this distinction for five consecutive years.
"This recognition is a reflection of our team's relentless commitment to excellence," said Ken Lane, LyondellBasell's Interim CEO. "Every day, employees at LyondellBasell demonstrate integrity, innovation and focus and I'm both proud and humbled by their endless accomplishments."
In 2021, LyondellBasell built on its momentum, delivered strong business results and advanced its sustainability goals. Highlights from the year include:
- Delivering record-setting financial results. The company's 2021 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) excluding lower of cost or market inventory valuation (LCM) and impairments exceeded prior records by 15%.
- Launching the Circulen portfolio of polymers to advance the circular economy of plastics and support our ambitious goal to produce and market two million metric tons of recycled and renewable-based polymers annually by 2030.
- Increasing our climate ambitions to align with the Paris Agreement. The company announced goals to achieve net zero greenhouse gas (GHG) emissions from global operations by 2050 and a 30% reduction in scope 1 and 2 greenhouse gas (GHG) emissions from global operations by 2030.
The annual list is compiled by Korn Ferry through a survey of more than 3,500 executives, directors and securities analysts. Companies are evaluated against key criteria of:
- Ability to attract and retain talented people
- Financial soundness
- Quality of management
- Social responsibility
- People management
- Use of Corporate Assets
- Long-Term Investment Value
- Global Competitiveness
More information on FORTUNE's "World's Most Admired Companies" list can be found here.
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 polypropylene compounds and the largest licensor of polyolefin technologies. In 2022, LyondellBasell was named to FORTUNE Magazine's list of the "World's Most Admired Companies" for the fifth consecutive year. More information about LyondellBasell can be found at www.lyondellbasell.com.
SOURCE LyondellBasell Industries