Sibur Holding, Russia’s largest integrated petrochemicals company, announces that its Board of Directors has approved the 2025 Sustainable Development Strategy.
The Strategy identifies five key focus areas (Responsible Business, Environment, Society and Partnership, Sustainable Product Portfolio, and Climate Impact Mitigation) and sets respective goals as follows:
- Responsible Business. Sibur intends to annually reduce LTIF[1] by 5%[2] for its employees and contractors, at least double the share of women in the senior management positions, adopt the Code of Counterparty Business Ethics, and improve its compliance system, including development of the Human Rights in the Workplace programme.
- Environment. Sibur intends to recycle at least 50% of all generated waste, reduce the specific mass of contaminants in wastewater by 40%, and cut water consumption per ton/unit by at least 5%. As part of Operation Clean Sweep[3], Sibur is planning to minimise the amount of plastic pellets lost into the environment.
- Society and Partnership. As part of the 2025 goals, the Company is to establish a public council under the Formula for Good Deeds programme, launch at least three long-term environmental projects as part of this programme, and increase the share of employees participating in volunteering and other socially important initiatives to 20%. In addition, the Company aims to provide training in sustainable development for 85% of its employees and establish at least two international partnerships to promote sustainability.
- Sustainable Product Portfolio. The Company plans to increase investments into R&D projects focusing on polymer waste recycling and use of renewable feedstock by 50%, build an effective communication system to promote sustainable development across the supply chain, and make sure that at least 40% of manufactured PET contains recycled PET granules.
- Climate Impact Mitigation. Sibur intends to cut greenhouse gas emissions per ton/unit in Midstream and Petrochemicals segments by 5% and 15%, respectively, and increase the share of green energy in the Company’s energy mix fivefold.
Leonid Mikhelson, Chairman of the Board of Directors at Sibur Holding: “Sibur is continuously working to create added environmental and social value. With the new Strategy approved, the Company has the ambition, potential and opportunities to contribute to the resolution of global problems that society is facing today.”
Dmitry Konov, Chairman of the Management Board at Sibur Holding: "Being Russian leading petrochemical company and one of the fastest growing global chemical industry majors, Sibur operates in the interests of all stakeholders as our products play an important part in the day-to-day life of many people around the world. The Company’s commitment to sustainability and approval of the 2025 Sustainable Development Strategy were primarily driven by Sibur’s active role in unlocking the potential of polymer recycling, efforts to promote circular economy and initiatives to address other challenges that our society is now facing.''
The Company will continue to work toward integrating the circular economy opportunities in its business model, which will help us incrementally achieve our ambitious sustainability goals.”
The Sustainable Development Strategy is aligned with the Company’s mission and values and 13 United Nations Sustainable Development Goals (SDGs) in which Sibur is best suited to make the strongest impact. In addition to facilitating the achievement of sustainable development goals directly through its core activities, Sibur also supports and embraces various projects and initiatives aimed at protecting the environment, mitigating the climate impact, developing innovation, and promoting culture, healthcare and education.
The Company intends to annually report to all stakeholders on progress in implementing the Sustainable Development Strategy.
[1] LTIF – lost-time injury frequency rate
[2] Calculations for all indicators were made using 2018 data, except for R&D projects aimed at processing plastic waste and involving renewable sources of raw materials and Amount of green energy in the Company’s energy balance fivefold, which were calculated based on the 2019 levels
[3] Operation Clean Sweep is an initiative by PlasticsEurope aimed at preventing the loss of polymer particles into the environment during their production and logistics.
