UK's INEOS achieves 22% reduction in GHG emissions
06 May 24 16 min read
Insights
- INEOS released its 2023 sustainability report, meeting GRI standards and audited by KPMG.
- Key achievements include a 22 per cent cut in emissions, leadership in carbon capture via Project Greensand, and advancements in the circular economy.
- These efforts reflect INEOS's commitment to sustainability, innovation, and stakeholder expectations.
INEOS has published its global sustainability report for 2023, prepared in line with Global Reporting Initiative (GRI) standards and externally assured by KPMG, at the end of April.
INEOS remains focused on its strategic goals throughout 2023: expanding its presence in key markets, giving assets a new lease of life, and developing groundbreaking technologies. 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 our 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.
- Trillium selects INEOS Texas for sustainable acrylonitrile demo plant
- Borealis to open recyclate polyolefins compounding line in Belgium
- EU textile rules to work better if backed by steps by trading partners
- Lenzing again honoured with Vienna Stock Exchange Sustainability Award
- Massive cut in freshwater usage by Bangladesh apparel industry
- Amcor launches new packaging innovation hub in Belgium
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.
In 2023 INEOS sites recorded 0.19 injuries per 200,000 hours worked for its employees and contractors combined.
Improving the sustainability of its business and operations is central to the way INEOS works. It is of critical importance to its employees, partners and customers, to the communities in which it operates, and to its investors. It drives innovation across all INEOS businesses and sites.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (HU)
Popular News
|
Apparel exports from Bangladesh to Europe tank 59.95% in Jan-Apr 2024 |
|
Chinese manufacturing conditions markedly improve midway into Q2 2024 |
|
Bangladesh's new Customs Act 2023 set for June 6 rollout |
|
Rising volatility in China's container market: Container xChange |
|
Vietnam to increase its share in New Zealand’s apparel imports |
|
Intertextile & Yarn Expo Shenzhen to showcase eco-friendly innovations |