INEOS Inovyn releases new sustainability report, with some ambitious new milestones
- 2021 was a particularly fruitful year for INEOS Inovyn, marked in part by our commitment to reduce our carbon footprint by 33% before 2030 and reach net zero by 2050.
- In 2021, INEOS Inovyn deployed efforts focused on circularity, widening its panel of products made of bio-sourced materials, investing in the development of solutions for advanced recycling of PVC and supporting over 30 local charities and community organisations.
- INEOS Inovyn has been boosting its green hydrogen plans and plans to invest EUR 2 Billion to further cement its position as the European leader on this strategic market.
INEOS Inovyn has published its second sustainability report on 15 December 2022. The new report outlines the steps taken by INEOS Inovyn in 2021 to make our industry more sustainable through our four pillars: responsible production, carbon neutrality, circularity and value to society.
With this report, INEOS Inovyn further acknowledges its responsibility as a world leading PVC producer when it comes to changing mindsets and challenging existing practices along the whole value chain. The report sheds light on various achievements and projects, including:
- Comprehensive Net Zero Carbon Roadmaps across all sites to reach carbon footprint targets. Critical projects to improve the efficiency of our assets have been completed in 2021.
- Project Circle, which sees INEOS Inovyn develop advanced recycling technologies such as chemical recycling to treat PVC from various post-consumer waste streams. This will allow for the inclusion of recycled materials into our product range.
- Further development of bio-sourced products with the launch of REODRIN™ - the world’s first commercially available grade of bio-attributed epichlorohydrin - as well as the expansion of our BIOVYN™ portfolio through extended RSB certification for sites in Sweden and Norway.
- The publication of our first range of Environmental Product Declarations, confirming INEOS Inovyn’s position as the European leader in low-carbon vinyl and chlor-alkali products.
- Acceleration of hydrogen development with project Aquarius, INEOS Inovyn’s first water electrolysis plant at our Rafnes site in Norway, as well as project HyBay which will see INEOS Inovyn ramp up the supply of hydrogen to fuel the UK’s transport.
- Strong support for the launch of VinylPlus® 2030, the European PVC value chain’s 10-year voluntary commitment to sustainable development.
Geir Tuft, CEO of INEOS Inovyn, commented on the report: “2021 was yet another exciting year for INEOS Inovyn. The path towards sustainability is still long, but with each year that passes we demonstrate that our company and the industry at large have the capacity to turn vision into reality.”
The full Report has been prepared in reference to the Global Reporting Initiative (GRI) standards, which create a common language for organisations to report their sustainability impacts. It can be accessed here >> INEOS Inovyn Sustainability Report 2022.