Moscow, 26 April 2021. SIBUR, Russia’s largest integrated petrochemicals company and a leader in sustainable development, has approved its Policy on Circular Economy and Climate Impact Mitigation at the meeting of its Board of Directors. The Policy sets out the main principles, strategic goals and objectives of SIBUR in these areas and outlines the key activities at each stage of product life cycle to achieve the above objectives.
The petrochemical industry is well positioned to develop circular economy due to the unique properties of polymers, including recyclability and reusability. This enables reducing the use of primary feedstock and cutting greenhouse gas emissions, while the development and improvement of polymer waste recycling helps build on these effects.
The Policy spans such business areas as risk management and strategic goal setting, supplier and customer relations, R&D and investment planning, operational efficiency and contribution to regulatory environment. SIBUR realises that achieving global tasks is only possible through awareness and joint efforts of a wide range of stakeholders. Therefore, the Policy focuses, in particular, on building partnerships as well as sharing experience and educational initiatives in environmental awareness and responsible consumption.
By approving and implementing the Policy, the Company also declares its commitment to the UN Sustainable Development Goals, the UN Global Compact, circular economy principles, the goals of the Paris Agreement, and Russia' Long-term Development Strategy with Low Greenhouse Gas Emissions to 2050. The progress in implementing the Policy will be the subject of regular discussions at meetings of the Company’s Board of Directors and its Sustainable Development Committee.
The Policy is publicly available and posted on the Company’s website.
Maxim Remchukov, Sustainable Development Director at SIBUR:
“SIBUR has been pursuing circular economy projects for several years, focusing on investment, educational and partnership initiatives. Previously, we have announced Russia’s largest project to produce green PET granules using recycled materials at our POLIEF plant in Bashkiria. The Giving Plastic a New Life educational initiative promoting recycling reached over 80 million people. Our partnership programmes involve major companies from the retail, hospitality, passenger transportation, and sports industries. The Policy on Circular Economy and Climate Impact Mitigation is based on the Company's expertise and strategic vision to develop these areas. We hope that our policy will provide guidance to other companies that have embarked on the path of sustainable development.”