Plastics, chemicals and refining multinational LyondellBasell has announced plans to produce two million tonnes of recycled or renewable-based polymers by 2030.
In its annual sustainability report, the company said that it would invest in the recovery and recycling of plastic, and accelerate solutions to end plastic waste.
It also said that it would join American Chemistry Council and Plastics Europe industry peers to ensure 100% of plastic packaging is reused, recycled or recovered by 2040.
LyondellBasell senior vice president research and development, technology and sustainability Jim Seward said: “LyondellBasll has been on a multi-year journey to advance the circular economy and we have made strides in mechanical and advanced recycling, as well as pioneering renewable-based products.
“Our goals underscore what we see possible in the next decade, and our sustainability ambitions require us to adapt our business models. When viewed through the lens of technology and innovation, our track record demonstrates our capacity to advance new collaborations and partnerships for the benefit of society.”
LyondellBasell recently started up its chemical recycling plant in Italy.