HOUSTON, May 8, 2023
/PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced it has
published its inaugural green financing framework to help advance
its long-term sustainability goals.
"Our green financing framework reflects the decisive steps we
are taking to allocate capital toward initiatives aligned with our
sustainability strategy," said Peter
Vanacker, LyondellBasell CEO. "The framework will offer our
stakeholders a transparent view into our plans to transition toward
a circular economy, achieve net zero scope 1 and 2 greenhouse gas
(GHG) emissions from our global operations by 2050, and reduce our
absolute scope 3 GHG emissions by 30% by 2030, relative to a 2020
baseline."
The framework establishes the principles for the company's
future green financings in accordance with the International
Capital Market Association's (ICMA) 2021 Green Bond Principles, and
the 2023 Green Loan Principles issued by the Loan Market
Association, the Loan Syndications & Trading Association and
the Asia Pacific Loan Market Association.
The framework provides an overview of potentially eligible
projects and associated selection criteria. Under the framework,
net proceeds from green finance instruments will go toward new and
existing investments in eligible green projects in the following
ICMA categories: circular economy, renewable energy, pollution
prevention and control, and energy efficiency.
S&P Global has reviewed the framework and provided a
second-party opinion confirming the framework aligns with the 2021
Green Bond Principles and 2023 Green Loan Principles.
Copies of the framework and S&P Global's second-party
opinion are available by clicking here.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation of an offer or sale of any
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
About LyondellBasell
We are LyondellBasell – a leader
in the global chemical industry creating solutions for everyday
sustainable living. Through advanced technology and focused
investments, we are enabling a circular and low carbon economy.
Across all we do, we aim to unlock value for our customers,
investors and society. As one of the world's largest producers of
polymers and a leader in polyolefin technologies, we develop,
manufacture and market high-quality and innovative products for
applications ranging from sustainable transportation and food
safety to clean water and quality healthcare. For more information,
please visit www.lyondellbasell.com or follow @LyondellBasell on
LinkedIn.
Forward-Looking Statements for LyondellBasell
The
statements in this release relating to matters that are not
historical facts are forward-looking statements. Actual results
could differ materially based on factors including, but not limited
to, our ability to meet our sustainability goals, including the
ability to operate safely, increase production of recycled and
renewable-based polymers to meet our targets and forecasts, and
reduce our emissions and achieve net zero emissions by the time set
in our goals; our ability to procure energy from renewable sources;
LyondellBasell's expectations that its green financing framework
will enable it to accelerate the deployment of green projects; the
intended use of proceeds from any future green financing; and
LyondellBasell's green or sustainability objectives, goals and
commitments. Additional factors that could cause results to differ
materially from those described in the forward-looking statements
can be found in the "Risk Factors" section of our Form 10-K for the
year ended December 31, 2022, which
can be found at www.LyondellBasell.com on the Investor Relations
page and on the Securities and Exchange Commission's website at
www.sec.gov.
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SOURCE LyondellBasell