LyondellBasell has been awarded an ‘A’ score for climate change in the 2024 CDP assessment, the company announced July 14. The upgrade from an A-minus places the company in CDP’s leadership category for the second year in a row.
CDP, formerly the Carbon Disclosure Project, is a global disclosure platform for environmental performance. Its 2024 assessment included updated criteria aligned with international reporting frameworks such as the International Sustainability Standards Board, the Task Force on Climate-related Financial Disclosures and the Taskforce on Nature-related Financial Disclosures.
The new standards raise the bar for environmental transparency, climate risk management and performance tracking, said LyondellBasell in a press statement. The recognition reportedly underscores the company’s progress in areas including energy efficiency, sustainability integration and emissions strategy.
In addition to its climate score, the company also reported a B score for water security and received its first forests score, further aligning with nature-related reporting expectations.
According to CDP, in 2024, for climate and water, Asia had the most A-list companies followed by Europe and the Americas. For forests, Europe had the most A ratings, followed by Asia and the Americas.
A-list companies outperformed market peers by an average of 6% in stock gains for the last decade, showing that transparency and ambition are rewarded by the market, reported CDP. Only 2% of the nearly 23,000 companies that disclosed their environmental efforts achieved an A rating.
