LyondellBasell Earns Overweight Upgrade, Details 3.2M-Ton Emissions Cut
LyondellBasell cut scope 1 and 2 greenhouse gas emissions by 3.2 million metric tons, trimmed scope 3 emissions by 29% and achieved a 0.120 incident rate while producing 206,000 tonnes of recycled polymers. Upgrade to Overweight with a $100 price target implies 38.4% upside and follows MoReTec-1 facility development due in 2027.
1. Sustainability Milestones
LyondellBasell reported its lowest-ever total recordable incident rate of 0.120 and achieved a 29% reduction in scope 3 emissions from its 2020 baseline. The company also cut scope 1 and 2 greenhouse gas emissions by roughly 3.2 million metric tons in the latest reporting period.
2. Circular Economy Investments
The company produced 206,000 tonnes of recycled polymers and continues construction on its MoReTec-1 recycling facility, scheduled to begin operations in 2027. These initiatives reflect LyondellBasell’s strategy to integrate sustainability into its core plastics and chemicals business.
3. Analyst Upgrade and Outlook
Alembic Global upgraded LyondellBasell to Overweight and set a $100 price target, implying a 38.4% upside. The upgrade reflects confidence in the company’s environmental progress and expected returns from its circular economy investments.