NET ZERO BY 2050
Improving the sustainability of our business and operations is central to the way we work. It is of critical importance to our employees, to our partners and customers, to the communities in which we operate, and to our investors. It drives innovation across all our businesses and sites.
TACKLING GLOBAL CHALLENGES
Our products already make an indispensable contribution to society by providing the most sustainable options for a wide range of societal needs. For example, preservation of food and clean water; construction of wind turbines, solar panels and other renewable technologies; for construction of lighter and more fuel-efficient vehicles and aircraft; for medical devices and applications; for clothing and apparel; and for insulation and other industrial and home applications. If polymers and plastics were to be replaced to the maximum extent in applications where they can be substituted, overall life-cycle greenhouse gas (GHG) emissions in Europe would increase by more than 50%.
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. As part of this, there is widespread acceptance that we should strive for a circular economy, in which materials are re-used to their maximum extent. In response, INEOS businesses have put in place the plans and actions needed to ensure that they lead the transition to a net zero economy by no later than 2050, whilst remaining profitable, and staying ahead of evolving regulations and legislation.
ECOVADIS GOLD AND PLATINUM AWARDS
Our leadership on sustainability has been recognised by the achievement of gold and platinum awards in recent sustainability assessments by ECOVADIS. These are detailed audits of our work on environment, ethics, labour and human rights, and sustainable procurement. Styrolution achieved a platimum award, placing it in the top 1% of 65000 companies rated. INOVYN and INEOS Europe AG achieved gold ratings, placing them in the top 4%. We were especially recognised for our environmental performance, reflecting our commitment to carbon emission reduction targets and to recycling and the circular economy.
2020 Sustainability Report
This report describes our 2019 performance and approach for our operations worldwide. A second report covering our 2020 sustainability performance will be published in the second half of 2021.