SABIC achieved a score of 97 out of 100 for environmental reporting to CDP, 37 percent above the average score, in a global program aimed at achieving sustainable supply chain management and reduction of climate change risk.
The score by the CDP, formerly known as Carbon Disclosure Project, is for its Global Supply Chain Program.
"We are pleased with the results of this global report as sustainability is a key foundation of SABIC's 2025 strategy," said Awadh Al-Maker, Executive Vice President, Technology and Innovation, SABIC. "Sustainability is helping us to emerge as a global leader in petrochemicals and benefit communities where we operate all over the world."
The positive news comes as SABIC is taking part in the Conference of Parties 21 (COP21), the UN conference aiming to reach a legally binding and universal agreement on climate, taking place in Paris until Dec. 11.
"Our score of 97 is a strong achievement and a good basis to monitor our further improvement in the coming years," said Atieh Abu Raqabah, General Manager SABIC Corporate Sustainability. "Our approach is based on measurement, accountability, transparency and collaboration with our stakeholders."
Ali Al-Ghamdi, Director Environmental Affairs at SABIC, added: "We report to CDP to benchmark our environmental performance and to see where we can further improve our energy-efficiency and impact on climate change. By developing solutions to environmental challenges, we add value to our customers, become more competitive and support SABIC's growth."
CDP is a global organization that aims to transform the way the world does business to prevent dangerous climate change and protect natural resources. The organization claims to hold the world's largest collection of self-reported climate change, water and forest-risk data, andranks companies and cities on the impacts and dependencies they have on the world's natural resources and strategic management.
This year CDP's Supply Chain Program benchmarked over 4000 companies, including SABIC, on the quality and completeness of their climate change and energy-efficiency data. SABIC scored 97 out of 100 on disclosure, ranking SABIC among the top performers in the petrochemicals industry and the Middle East. SABIC reported privately to CDP in 2015, meaning that our score andclimate change questionnaire are not publicly available on the program website.
The disclosure score, an assessment of the quality and completeness of a company's response, evaluates Governance and Strategy, Risk and Opportunity Management, Emissions Management and Verification.
Companies utilize CDP's Supply Chain program to engage directly with suppliers on sustainability initiatives and request information on the carbon footprint of purchased materials. In 2015, SABIC engaged with customers through CDP, supplying information on material carbon footprint for over 25,000 metric tons of resin. By providing this information to the market and engaging with customers, SABIC demonstrated its commitment to sustainability.
Through CDP's Supply Chain Program, companies are using their purchasing power to reduce costs and environmental risks, and to engage the value chain to improve outcomes and strengthen relationships. It also helps companies benchmarking their company performance against peers and providing strategic insights based on corporate environmental information.
Mohammed Al-Motawa
General Manager, Global Media
Notes to Editors:
• SABIC and brands marked with ™ are trademarks of SABIC or its subsidiaries or affiliates.
• SABIC shouldbe written in every instance in all uppercase.
About SABIC
Saudi Basic Industries Corporation (SABIC) ranks as the world's third largest diversified chemical company. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and agri-nutrients.
SABIC recorded a net profit of SR 23.3 billion (US$ 6.2 billion) in 2014. Sales revenues for 2014 totaled SR 188.1 billion (US$ 50.2 billion). Total assets stood at SR 340 billion (US$ 90.7 billion) at the end of 2014.
SABIC's businesses are grouped into Chemicals, Polymers, Agri-Nutrients, Metals and Innovative Plastics. It has significant research resources with innovation hubs in five key geographies - USA, Europe, Middle East, South East Asia and North East Asia. The company operates in more than 50 countries across the world with around 40,000 employees worldwide.
SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific.
Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent publically traded on the Saudi stock exchange.
© Press Release 2015
