LYB Announces Updated 2030 Sustainability Goals

LyondellBasell announced updated 2030 climate and circularity goals, citing disciplined capital allocation, shifting market dynamics and evolving regulatory conditions. While the company described the revised targets as ambitious, it acknowledged the need to recalibrate near-term expectations in light of current operating realities.

The company’s three-pillar strategy remains unchanged. It continues to focus on growing and upgrading its core operations, building a profitable circular and low-carbon business, and strengthening performance and organizational culture. The updated goals are intended to align sustainability ambitions with this broader strategic framework.

Under the revised climate target, the company now aims to reduce Scope 1 and 2 greenhouse gas emissions by 32 percent by 2030 compared with a 2020 baseline. The previous goal had been a 42 percent reduction. On circularity, LyondellBasell now plans to produce and market 800,000 metric tons of recycled and renewable-based polymers annually by 2030, compared with its earlier target of 2 million metric tons.

Chief Executive Officer Peter Vanacker said the company has gained deeper insight into the factors that influence the delivery of value from circular and low-carbon solutions, including policy adoption, market demand and technology readiness. He noted that capital discipline remains essential in the current economic environment and that the updated goals are designed to advance sustainability at a pace aligned with market conditions and regulatory developments.

 

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Progress on Recycling and Emissions Reduction

 

LyondellBasell highlighted several milestones achieved to date. Construction continues on MoReTec-1 in Wesseling, Germany, the company’s first commercial-scale catalytic chemical recycling plant using its proprietary MoReTec technology. The facility is positioned as a foundation for future profitable growth in circular and low-carbon solutions.

The company also reported progress in emissions reduction efforts, including initiatives at its Houston Refinery site and energy efficiency improvements across manufacturing facilities through its Value Enhancement Program. In addition, it has secured sufficient renewable energy projects to meet its target of sourcing at least 50 percent of electricity from renewable sources by 2030, based on 2020 procurement levels.

LyondellBasell stated that the updated sustainability goals will not affect existing supply commitments or commercial contracts.

 

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Further Details to Follow in Sustainability Report

 

Additional information on the company’s refreshed sustainability approach and the enabling factors influencing its goals will be outlined in its annual Sustainability Report scheduled for release in April 2026.

The company emphasized that statements regarding its goals and related efforts are forward-looking and subject to risks and uncertainties, including market volatility, regulatory developments, technology deployment, capital access and broader industry conditions.