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  3. Addressing Climate Change

Addressing Climate Change

Addressing climate change is one of the greatest challenges our world is facing. We recognize its urgency and have accelerated our efforts and enhanced our goals in support of the Paris Agreement which aims to limit climate change by achieving net zero for global greenhouse gas (GHG) emissions by mid-century. We are committed to doing our part and recognize that achieving this objective will require collaboration and collective action amongst industry, policymakers and all parts of society.

 

   

 

How We'll Do It

  • Integrate proven solutions to use fossil fuels more efficiently, optimize our fuel mix, minimize flaring and improve the efficiency of our manufacturing processes

  • Increase our use of renewable energy primarily through power purchase agreements

  • Accelerate the scale up and deployment of breakthrough technologies that will decarbonize chemical processes to net zero by 2050 through collaboration

  • Continue to integrate climate change and decarbonization into our business processes and strategy

  • Engage with governments and industry peers to support effective policies to help achieve the goals of the Paris Agreement and our global climate ambitions

 

Goals
  • Achieve net zero greenhouse gas emissions from our global operations by 2050
  • Reduce absolute greenhouse gas emissions by 30% by 2030
  • Procure a minimum of 50% of electricity from renewable sources by 2030

 

Read more in our 2021 Sustainability Report

Pathway to Our 2030 Target:

 
GOAL:
30% reduction in GHG emissions by 2030

Announced Organic Growth: We account for organic growth in our targetsetting, with additional emissions from projects we have publicly announced, such as our propylene oxide and tertiary butyl alcohol (PO/TBA) plant at our Channelview, Texas site, anticipated to start up at the end of 2022.

Planned GHG Emissions Reduction Projects from our sites will be
achieved through different operational improvement measures, including
minimizing flare emissions, switching to less carbon intensive fuels and
steam optimizing our energy use, especially in our furnace operations.

Other GHG Emissions Reduction Options are being studied and are
dependent on the outcome of further site energy assessments, progress
in securing further renewable electricity through power purchase
agreements, as well as emerging regulatory frameworks that may
impact our approach.


Estimates of the capital expenditure necessary to achieve our sustainability goals are reflected in our corporate budgets. Such capital expenditures are not expected to represent a significant proportion of total capital expenditures over the next two years.

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