Saudi Arabia Vision 2030

Sabic's Home of Innovation Center in Riyadh, Saudi Arabia

Sabic's Home of Innovation Center in Riyadh, Saudi Arabia

Sabic aligns efforts with vision

EVERAL landmark internal decisions in 2019 helped Saudi Basic Industries Corporation (Sabic) emerge as a pioneer in the development of the circular economy – where renewables, resource conservation, waste reduction and recycling contribute to business growth, a recently released report said.

The company continues to invest heavily in Saudi Vision 2030 and has aligned its engagement and collaboration efforts with the vision and with its own goal of creating ‘Chemistry that Matters’.

Sabic’s Sustainability Report 2019 covers performance over the past year and details how sustainability fits into the company’s broader global business strategy.

Titled "Toward a Circular Future", the report builds on the reputation of the company as a global leader in chemicals that embeds sustainable practices not only into its own business, but also into its entire value chain.

"We are driven by concern for plastics in the environment, the search for new ways to reuse and re-purpose materials, and a desire for effective regulations, especially in packaging. These priorities have led to investments in circular product-solutions and our ability to accept chemically recycled feedstock," says Dr Abdulaziz Saleh Aljarbou, Sabic Chairman.

Yousef Abdullah Al-Benyan, Vice Chairman and CEO, says: "Sabic witnessed excellent progress and we continued to recognise global concerns for creating a more sustainable society. Demand for circular solutions increased this year, as did opportunities for renewable energy and regional climate regulations. We have circular economy strategies that will lead to industry-leading projects in all our global regions."

Sabic’s impressive and growing range of circular solutions include a chemical recycling mega-project that will turn mixed plastic waste back into the original polymer; a semi-commercial, pre-treatment facility to increase the supply of chemically recycled feedstocks; and the TRUCIRCLE portfolio of circular solutions, which are already helping Sabic’s customers in several key markets to reach their own sustainable goals.

On the circular economy, Sabic has embraced the ground-breaking TRUCIRCLE initiative. Its solutions encompass the company’s circular materials and technologies, including certified circular polymers from the chemical recycling of mixed plastic waste, certified bio-based renewable polymers, mechanical recycled products, and design for recyclability.

Sabic is determined to increase the amount of circular and certified products it processes in Europe to 200 kilotons by 2025, in line with an EU Commission pledge.

Building on this pledge, Sabic will set a target in 2020 for global circular and certified products by 2030.

In Saudi Arabia, Sabic is enabling the government to fulfill the waste-management enables objectives of Saudi Vision 2030, including commitments to reduce landfill waste and increase collection and recycling.

The Sustainability Report highlights how Sabic works with – and is sometimes a driving force behind – international organisations that are contributing to a sustainable world and helping to tackle some of the biggest challenges facing the industry and the planet.

With climate resilience being central to Sabic’s climate and efficiency goals, the company continuously improves energy efficiency, targeting to reduce the intensity of its energy and greenhouse-gas emissions by 25 per cent from 2010 to 2025.

The company also aims to reduce the carbon footprint of its products and supply chain, while advancing the deployment of renewable energy.

Realsing that it is the future, Sabic is actively transitioning to renewable energy. Its plans to install 4 gigawatts (GW) of wind and solar energy capacity by 2025 and 12 GW by 2030.

Sabic strives to maximise resource efficiency and minimise environmental impact. Last year, its global headquarters in Riyadh achieved carbon neutrality by offsetting greenhouse-gas emissions. The company continues to make progress on its goals to reduce material-loss intensity by 50 per cent and water intensity by 25 per cent from 2010 to 2025.

It is committed to reducing emissions from flaring by 65 per cent, and also reduce hazardous and non-hazardous waste to below 2010 levels, as a percentage, all by 2025.

As part of its contribution to Saudi Vision 2030, Sabic uses local materials and services where reasonably possible, and reduce its reliance on imports, by supporting capable local manufacturers and stimulating employment for the local workforce. In addition, its local sourcing strategy utilises shorter transportation routes, enables a flexible logistics strategy, and lowers carbon emission from inbound logistics.

Sabic believes that cultivating human capital plays a major role in its success. It continues to develop best human resources practices in Saudi Arabia and prepare young Saudis for the emerging labour market by advancing their skills and potential.

Furthermore, Sabic also seeks to help communities across the globe by investing in social and environmental initiatives that benefit people and the planet, while supporting sustainable business development at a global scale

The company’s corporate social responsibility (CSR) initiatives focus on four strategic priority areas: science and technology education, environmental protection, health and wellness, and water and sustainable agriculture, contributing to Saudi Vision 2030 and 10 of the UN’s Sustainable Development Goals.

In 2019, Sabic invested more than $15.6 million into CSR initiatives that meet these criteria – 185 programmes in 103 cities and 22 countries. Some 2,531 Sabic volunteers contributed a combined 10,874 hours, benefiting more than 340,000 people worldwide.

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