LyondellBasell releases its 2024 Sustainability Report

Houston, TX – LyondellBasell released its 2024 Sustainability Report, demonstrating significant progress in circular and low-carbon solutions, climate action and operational excellence.

“At LYB, 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.”

2024 sustainability highlights:

Value Enhancement Program (VEP) success: The company’s employee-driven VEP initiative unlocked a cumulative $800 million in recurring annual EBITDA and generated estimated annual carbon emissions reductions of 310,000 metric tons.
Advancing the circular economy: LYB 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 $1 billion1.
MoReTec-1 construction underway: To meet the rising demand for circular polymers, the company broke ground on its first commercial-scale chemical recycling plant in Wesseling, Germany, to convert hard-to-recycle plastic waste into new raw materials, including for contact-sensitive packaging.
Reducing carbon emissions: In Q1 2025, LYB safely completed the shutdown of refining operations at its Houston refinery. This will reduce annual Scope 3 emissions by approximately 40 million metric tons.
Renewable energy expansion: New power purchase agreements (PPAs) secured in 2024 will enable LYB to meet its target of sourcing at least 50% of electricity from renewable sources by 2030.
Safety excellence: Out of over 90+ LYB manufacturing sites, 70 achieved GoalZERO, 72 were injury-free and the company achieved its second lowest-ever total recordable incident rate (0.127).
Strategic growth & investments: The company acquired APK AG, adding Newcycling technology to its portfolio for solution-based recycling of low-density polyethylene (LDPE) waste.
Sustainability recognition: Ranked first among plastics producers in BloombergNEF’s 2024 circular economy company rankings and retained its AA ESG rating from MSCI.

“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.” – Peter Vanacker, CEO, LyondellBasell

For more details, read the 2024 Sustainability Report at www.lyondellbasell.com.