SABIC Releases Sustainability Report Outlining Progress on Key Drivers, Moving Toward a More Circular Future
April 23, 2020 - SABIC has released its Sustainability Report 2019, covering performance over the past year and detailing how sustainability fits into the company’s broader global business strategy. Titled “Toward a Circular Future,” the report builds on the reputation of the company as a global leader in chemicals that embeds sustainable practices not only into its own business, but also into its entire value chain.
As reflected in the report’s title, several landmark internal decisions in 2019 helped SABIC emerge as a pioneer in the development of the circular economy – where renewables, resource conservation, waste reduction, recycling, and repurposing don’t impede, but actually contribute to business growth.
Dr. Abdulaziz Saleh Aljarbou, SABIC Chairman, said, “We are driven by concern for plastics in the environment, the search for new ways to reuse and re-purpose materials, and a desire for effective regulations, especially in packaging. These priorities have led to investments in circular product-solutions and our ability to accept chemically recycled feedstock.”
Yousef Abdullah Al-Benyan, Vice Chairman and Chief Executive Officer, said, “SABIC witnessed excellent progress and we continued to recognize global concerns for creating a more sustainable society. Demand for circular solutions increased this year, as did opportunities for renewable energy and regional climate regulations. We have circular economy strategies that will lead to industry-leading projects in all our global regions.”
SABIC’s impressive and growing range of circular solutions include a chemical recycling mega-project that will turn mixed plastic waste back into the original polymer; a semi-commercial, pre-treatment facility to increase the supply of chemically recycled feedstocks; and the TRUCIRCLE™ portfolio of circular solutions, which are already helping SABIC’s customers in several key markets to reach their own sustainable goals.
The Sustainability Report highlights how SABIC works with – and is sometimes a driving force behind – international organizations that are contributing to a sustainable world and helping to tackle some of the biggest challenges facing the industry and the planet. It is a transparent insight into SABIC’s approach to delivering ‘Chemistry that Matters™’ to customers, suppliers, governments, NGOs, and communities all over the world.
The report can be accessed on SABIC’s website, www.sabic.com.
Director, Global Communications
NOTES TO EDITORS
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SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals.
SABIC supports its customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.
The company recorded a net profit of US$ 1.5 billion in 2019. Sales revenues for 2019 totaled US$ 37.3 billion while total assets stood at US$ 82.6 billion. Production in 2019 was 72.6 million metric tons. It has more than 33,000 employees worldwide and operates in around 50 countries.
Fostering innovation and a spirit of ingenuity, SABIC has 12,540 global patent filings, and has significant research resources with innovation hubs in five key geographies – Saudi Arabia, USA, Europe, South Asia and North Asia.
The Saudi Arabian government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
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