INEOS published its global sustainability report for 2023, prepared in line with Global Reporting Initiative (GRI) standards and externally assured by KPMG. INEOS remains focused on its strategic goals throughout 2023: expanding its presence in key markets, giving assets a new lease of life, and developing ground-breaking technologies.
As per the press release, at the same time, the company advanced its environmental objectives, while maintaining the highest standards in safety, business conduct, and the treatment of people throughout operations and value chains.
Progress towards net-zero emissions: The report highlights a 22% reduction in greenhouse gas emissions compared to 2019. The emission reductions are attributed to major clean power deals supplying several INEOS sites with renewable electricity, as well as optimisation measures and step changes in our processes across our sites. Lower production levels due to economic conditions in 2023 also played a significant role, with a 10% year-on-year reduction in energy consumption.
A leading role in CCUS: INEOS also highlights its leading role in Project Greensand. On March 8th 2023, Project Greensand initiated the world’s first cross-border offshore CO2 storage intended to mitigate climate change. INEOS demonstrated the capture of CO2 from its Antwerp site in Belgium, transportation to the Danish North Sea and injection into a depleted oil well for permanent storage.
Advancing the circular economy: INEOS remains committed to playing its part in the transition to a circular and bio-based economy and continues to make progress with its 2025 and 2030 polymer pledges. In 2023, INEOS added circular flexible packaging and PVC to its product portfolio, as well as bio-based acrylonitrile, acetonitrile and low-carbon PVC. It also commissioned new facilities to incorporate pyrolysis oil made from recycled plastic waste into its cracking operations in Cologne.
Delivering excellence in health and safety: The health and safety of its workforce, contractors and visitors to our sites, is a priority for INEOS and it is committed to maintaining the highest standards.
