INEOS publishes its 2023 sustainability report

INEOS publishes its 2023 sustainability report

Showing continued progress with climate and circular economy goals

  • By ICN Bureau | May 04, 2024

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.

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.

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.

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.

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