Borealis Unveils Ambitious Sustainability Strategy 2030

Borealis, a leading international provider of innovative solutions in the fields of polyolefins, base chemicals, and fertilizers, has introduced a new strategic evolution centered around sustainability. The Borealis Strategy 2030 is built on a foundation of dedication to safety, people, innovation, and technology, as well as performance excellence. This framework supports continued geographic expansion and the ongoing transformation towards a circular economy.

Key Takeaways:

Borealis has set ambitious sustainability targets for reducing greenhouse gas (GHG) emissions, energy consumption, and promoting the circular economy.
The company aims to reduce its Scope 1 and Scope 2 emissions from 5.1 M tonnes (base year 2019) to less than 2 M tonnes by 2030.
By 2025, Borealis plans to increase the share of renewable energy sources in its electricity mix from 25% to 40%, and by 2030, 100% of the electricity used in its Polyolefins and Hydrocarbons operations shall be of renewable origin.
The company targets a six-fold increase in the share of circular products and solutions, from 100,000 tonnes in 2021 to 600,000 tonnes by 2025, and 1.8 M tonnes by 2030.
Borealis' Strategy 2030 emphasizes the importance of serving the rapidly growing Asian market and expanding its footprint in North America through strategic partnerships, mergers and acquisitions, and organic growth opportunities.

Statistics:

Reducing Scope 1 and Scope 2 emissions from 5.1 M tonnes (base year 2019) to less than 2 M tonnes by 2030.
Increasing renewable energy share in electricity mix from 25% in 2021 to 40% by 2025.
Originating 100% of electricity used in Polyolefins and Hydrocarbons operations from renewable sources by 2030.
Achieving 600,000 tonnes of circular products and solutions by 2025.
Reaching 1.8 M tonnes of circular products and solutions globally by 2030.

Sources:

Borealis. (2022). Borealis Strategy 2030. Retrieved from http://www.borealisgroup.com/