Sibur set out sustainability target in 2025 strategy
Russian petrochemicals company Sibur Holding is eyeing to recycle a minimum of half of its generated waste by 2025 as part of a new sustainable development strategy released today.
The new 2025 roadmap identifies the five key focus areas of responsible business, environment, society & partnership, sustainable product portfolio and climate impact mitigation.
To address the “responsible business” area, Sibur said it aimed to reduce the lost-time injury frequency (LTIF) rate by 5% annually for its employees and contractors. The company will also aim to “at least double” the share of women in the senior management positions, and adopt the Code of Counterparty Business Ethics for issues such as human rights in the workplace.
On the environmental front, the Moscow company said it intended to recycle at least 50% of all generated waste, reduce the specific mass of contaminants in wastewater by 40%, and cut water consumption per tonne/unit by at least 5%.
As part of PlasticsEurope-led Operation Clean Sweep, Sibur said it was planning to minimise the amount of plastic pellets lost into the environment.
For societal issues, the company is to establish a public council under the “formula for good deeds programme” and launch at least three long-term environmental projects as part of the initiative.
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.
To upgrade its sustainable product portfolio, Sibur plans to increase investments into R&D projects focusing on polymer waste recycling and use of renewable feedstock by 50%.
Additionally, the company aims to build an effective communication system to promote sustainable development across the supply chain and ensure that “at least 40% of [its] manufactured PET contains recycled PET granules.”
Sibur also intends to cut greenhouse gas emissions per tonne/unit in its Midstream and Petrochemicals segments by 5% and 15%, respectively. The Russia company aims to increase the share of green energy in its energy mix fivefold.
“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,” said Leonid Mikhelson, chairman of the board of directors at Sibur Holding.
The company said it would continue to work toward integrating the circular economy opportunities in its business model, which will help it incrementally achieve its sustainability goals.
Sibur intends to annually report to all stakeholders on progress in implementing the strategy.