LyondellBasell Sets 32% Emissions Cut, 800K-Ton Recycling Goal by 2030
LyondellBasell updated its 2030 targets to cut Scope 1 and 2 emissions 32% from 2020 levels and produce 800,000 metric tons of recycled and renewable-based polymers annually. It plans to commission its MoReTec-1 recycling plant in Germany and source at least 50% renewable electricity by 2030.
1. Updated Emissions Reduction Target
LyondellBasell revised its goal to reduce Scope 1 and 2 greenhouse gas emissions by 32% by 2030 relative to 2020, reflecting the need for disciplined capital allocation and evolving regulatory requirements.
2. Circularity and Recycling Goals
The company aims to produce and market 800,000 metric tons of recycled and renewable-based polymers annually by 2030, reinforcing its strategy to build a profitable circular and low-carbon business.
3. Infrastructure and Renewable Sourcing
Key progress includes the MoReTec-1 catalytic recycling plant under construction in Wesseling, Germany, and securing projects to procure at least 50% of electricity from renewable sources by 2030 without altering existing supply contracts.