Indorama Ventures (IVL), headquartered in Bangkok, Thailand, has announced its commitment to science-based targets set by the Science Based Targets initiative (SBTi) to help drive its ambitious sustainability programmes.

The company will also participate in the SBTi Expert Advisory Group for the chemicals industry.

SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature to help businesses set emissions reduction targets based on the most recent climate science.

Under its Vision 2030, IVL aims to build on its global industry leadership in sustainability by reducing GHG intensity by 30% and increasing renewable electricity consumption to 25%.  Current projects are helping the company to achieve its operational efficiency targets, increase its use of renewable energy – especially both onsite generation and offsite procurement for renewable electricity through power purchase agreements – implement new decarbonization technologies including carbon capture, introduce bio-feedstock to its petrochemical value chain and expand its PET recycling capability.

To meet its targets, IVL recognises the importance of collaboration between the public and private sectors to decarbonize its operations through a variety of strategies. The established targets help its customers and suppliers to achieve their own sustainability goals, particularly science-based targets.

 “We are pleased to make our sustainability commitment more practical and measurable through science-based targets,” said Yash Lohia, chairman of the ESG Council at Indorama Ventures. “We are dedicated to finding new technologies that can transform our operations and products towards net-zero. The efforts are not only for our sustainable business but also to support our customers and suppliers to achieve their own sustainability goals.”

www.indorama.net