“INEOS Commits To Achieving Net Zero Emissions By 2050”

Following the Paris Climate Agreement of 2015, most nation states have set the goal to achieve a net zero emission economy by 2050, and are adopting regulations and legislation to support this.

In response, INEOS businesses have put in place roadmaps to lead the transition to a net zero economy in our industry by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation. Based on these roadmaps, we are setting ambitious but achievable targets for 2030 which are in line with our 2050 commitment. We expect to publish these shortly. 

Actions and improvements are already in hand. We will reduce emissions for each kg of product by 10% by no later than 2025, and we are investing over 3 billion euros over the next 5 years to reduce our footprint further. As part of this effort, we are also investing in new products and technologies to drive the industry to a circular economy in which materials are re-used to the maximum extent, and no products, once used, enter the natural environment. We have outlined many of the actions already being taken in the accompanying website pages.

The products we make are essential for a myriad of applications on which society relies.

That is why Governments worldwide regard the industry as a critical industry, as we have seen during the recent pandemic. The range of applications includes the following:

• health and medical devices,
• clean water,
• food conservation and preservation,
• renewable energy technologies,
• lighter energy saving materials for transport and mobility,
• affordable clothing and apparel,
• construction & transmission of water and gases,
• electrical insulation,
• household and electrical goods.

Our products are essential because, based on performance, affordability, and environmental footprint, they are the best available materials for the applications concerned. In some cases, especially in the medical sphere, they are the only available materials. INEOS is part of the solution to the challenges the world faces, and we look forward to achieving a net zero economy whilst continuing to deliver products which are essential to society. 

Sir Jim Ratcliffe - INEOS Chairman
July 2021