LyondellBasell Targets to Implement Carbon Neutral Operations by 2050
- 21-Oct-2021 5:36 PM
- Journalist: Robert Hume
Houston headquartered chemicals major and technology licensor, LyondellBasell in a recent announcement has revealed its intentions of achieving net-zero carbon emissions by 2050.
For the execution of its devised targets, the company will first be focusing on strategies that could enable a reduction of 30% in scope 1 and scope 2 greenhouse gases (GHG) emissions by 2030. The target has been undertaken to comply with the goal of the Paris Agreement which has been devised to tackle climate change by completely eliminating GHG emissions by mid-century.
The company’s action plans further constitute expanding its existing manufacturing footprint by exploiting hydrogen energy, carbon capture technology and storage, and electrification of feed crackers. The company is also looking for collaboration opportunities to develop cutting-edge technologies that could help establish decarbonized plant operations.
Scope 1 emissions are sourced from company-owned and controlled resources and are released to the atmosphere as a consequence of direct operational activities. Scope 2 emissions are indirectly sourced emissions that are generated from utilities like electricity, heat, steam etc. present at the operating site. Carbon dioxide constitutes 81% of the total GHG emissions with methane, nitrous oxide and fluorinated gases constituting the remaining 19%. The overabundance of carbon dioxide in the environment leads to the trapping of heat thereby resulting in global warming.
As per ChemAnalyst, the reduction of carbon emissions has become a global agenda, owing to its adverse effects on the climate. Petrochemical industries are one of the major sources of emitting greenhouse gases. Owing to the increasing awareness and formulation of strict environment-protection laws, many companies are directing their efforts towards decarbonizing their production units. The steps taken by LyondellBasell, the largest polypropylene technology provider, will not only change the operational dynamics at its own facilities but is expected to have a larger impact on the evolution of sustainable technologies that will serve many other chemical companies.