HOUSTON, May 8, 2023 - 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.
SOURCE LyondellBasell
