LyondellBasell Updates 2030 Emissions and Circular Polymer Goals
LyondellBasell announced updates to its 2030 climate and circularity goals, reducing its prior emissions and circular polymer targets to reflect market conditions, regulatory developments and capital allocation priorities.
According to the company, it now targets a 32% reduction in Scope 1 and 2 greenhouse gas emissions by 2030 relative to a 2020 baseline. This replaces its previous goal of a 42% reduction by 2030 from the same baseline.
The company also updated its circularity target to produce and market 800,000 metric tons of recycled and renewable-based polymers annually by 2030. The prior goal was 2 million metric tons annually by 2030. According to the company, production and marketing volumes include joint venture production marketed by the company plus its pro rata share of remaining production produced and marketed by the joint venture, as well as production via third-party tolling arrangements.
In a press statement, the company said the revised goals balance ambition with near-term achievability while maintaining its three-pillar strategy of growing and upgrading the core, building a profitable circular and low-carbon business and stepping up performance and culture.
The company reported progress on several initiatives, including advancing construction of its MoReTec-1 catalytic chemical recycling plant in Wesseling, Germany, reducing emissions at its Houston Refinery site and implementing energy efficiency projects through its Value Enhancement Program. It also secured sufficient projects to meet its target of procuring at least 50% of electricity from renewable sources by 2030 based on 2020 levels, according to the company.
According to the announcement, the updated goals will not impact supply commitments or commercial contracts. Additional details are expected in the company’s 2026 Sustainability Report.
In related environmental efforts, the company previously announced it earned an “A” score in the 2024 climate assessment from CDP, reflecting progress in climate risk integration and energy performance under updated disclosure standards.