RTTNews | Sep 29, 2021 07:22AM EDT

07:21 Wednesday, September 29, 2021 (RTTNews.com) - LyondellBasell (LYB), a plastics, chemicals, and refining company, on Wednesday unveiled its plans to achieve net zero emissions from global operations by 2050.

As an interim step toward 2050, the Rotterdam-headquartered firm also revealed a strategy to achieve an absolute reduction of 30 percent in scope 1 and scope 2 emissions by 2030. These targets are consistent with efforts to support the Paris Agreement's goal of limiting climate change by achieving net zero for global greenhouse gas (GHG) emissions by mid-century, the Dutch company said.

In 2019, LyondellBasell announced an initial GHG emissions reduction target of 15 percent per ton of product produced by 2030, relative to 2015 levels. At the time, the company stated its intention to establish a more ambitious target.

As such, the company has developed an achievable pathway to an absolute reduction in scope 1 and scope 2 GHG emissions by 30 percent, relative to 2020 levels.

LyondellBasell's approach for achieving net zero emissions for its scope 1 and scope 2 emissions by 2050 is expected to build upon the progress achieved over the balance of this decade.

In addition to these strategies, the company said it has begun evaluating a portfolio of technology options that could be deployed across the company's manufacturing footprint, including cracker electrification, use of hydrogen, carbon capture and storage, and carbon utilization, the company added.

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