NET ZERO BY 2050
OUR COMMITMENT
“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,
- 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
SUSTAINABILITY
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.
CDP
INEOS is pleased to join CDP following the acceptance of its emissions data. CDP, will be an important partner in the disclosure and reporting of INEOS emissions. It is a global non-profit that runs the world’s leading environmental disclosure platform. CDP drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Our data will be disclosed in 2022 along with over 13,000 other companies. We believe that, even for private companies, it is crucial now more than ever to become transparent when it comes to the risk's climate change poses to businesses, and investors.
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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.
Download reportSustainability
Safety and the environment
Excellence in health, safety and the environment.
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Communities and the natural environment
Enhance the communities in which we operate.
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