SIBUR updates its ESG goals under 2025 Strategy

Sibur updates its sustainable goals nether 2025 Strategy. photo sibur

Sibur's board of directors has approved amendments to the 2025 sustainable development strategy. The company maintains focus on mitigating the climate bear on and developing circular economy, while also taking on more ambitious dark-green commitments and expanding the range of variety and inclusiveness goals.

"In 2019, Sibur was 1 of the first Russian companies to adopt a sustainable development strategy. In 2 years, we take undergone a comprehensive ESG transformation, realizing that the strategy needs to be updated in club to meet new challenges of the speedily changing surroundings. Some of the targets were achieved alee of schedule, while others demand to be redefined to become more audacious. There are also some boosted areas which compel closer attention and require urgent activeness on our side. The updated document reflects our ambitious aspirations in the realm of carbon neutrality and round economy," said Dmitry Konov, chairman of Sibur'southward Management Lath.

Sibur new goal for carbon neutrality

One of the new goals is to brand at least i Sibur facility carbon neutral by 2025. To this end, we will meliorate the energy efficiency of processes and increase the share of renewables in the free energy mix, introduce CO 2 capture, removal, and storage technologies, and run sequestration projects. As the Company makes progress towards this goal, we will be able to test and assess the efficiency of existing and planned projects.

The updated strategy translates the goal to reuse plastic waste in the production bike into specific figures. By 2025, Sibur plans to facilitate recycling of at least 100 kt of polymer waste annually as function of its ain investment projects and joint projects with partners. The central driver in delivering this goal will exist the production of green PET granules – Vivilen rPET – containing recycled materials to exist launched at POLIEF site in Blagoveshchensk in 2022. By 2030, Sibur plans to make at least 250 kt of low-carbon products and those containing recycled or bio feedstock annually.

The dark-green free energy goal is at present even more ambitious. As was previously announced, Sibur plans to increase the share of green energy in its energy mix fivefold by 2025, notwithstanding, the base yr has been changed from 2022 to 2020. The calculation now factors in the launch of the Company'southward ain solar power found in Sibur-Yug corporate resort in Anapa. Sibur's HR management and social activities are to exist merged into a comprehensive diverseness and inclusiveness plan by integrating the principles of diversity and inclusiveness into the company'due south key by-laws and corporate practices. The goals related to the development of a methodology for assessing the product portfolio confronting sustainable development criteria, the approval of a human rights policy and the launch of long-term charitable projects to conserve biodiversity were delivered ahead of schedule.

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