LyondellBasell could be aligned with a 1.5 °C warming scenario by 2030. LyondellBasell aims to achieve Carbon Neutrality by 2050, targeting a 42% reduction in Scope 1 and 2 emissions and a 30% reduction in Scope 3 emissions by 2030, from a 2020 baseline. While Planet Tracker believes LYB is likely to meet its 2030 targets, the company could strengthen its position by enhancing its transparency, especially on financial disclosures related to climate-related risks and the expected impact of its investments on emissions reductions.

Planet Tracker’s report, Tomorrow’s Chemistry, presents a comparative analysis of the Climate Transition Assessments (CTAs) of seven leading chemical companies, Air Liquide (AI), BASF (BAS), Bayer (BAY), Dow (DOW), Incitec Pivot (IPL), LyondellBasell (LYB), and Toray Industries (3402), shedding light on their commitments, strategies and readiness to align with the Paris Agreement and achieve Net Zero emissions by 2050.

LyondellBasell has a short-term climate transition plan which is much more credible than many of its CA100+ chemical sector peers. As a result, it is on target to meet its 2030 emissions target. Beyond this date, however, there is a lack of clarity, making it difficult for investors to understand how it will achieve its net zero target by 2050.

Plastic Risk

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Analysis of equity risk premia of 150 top corporates in the plastic value chain finds risk perception in industry is at its lowest level since 2011.

In the first three years of its five-year target, the AEPW achieved only 0.04% of its own goal to divert and recycle 9 million tonnes of plastic, but with 40% spend against budget. This report provides data-backed evidence of the different ways the Alliance has undermined its own objectives to ‘end plastic waste in the environment and protect the planet’.

EUR 678 billion of investor capital at risk from EU plastic industry’s business-as-usual model

This report reveals 30 companies, including ExxonMobil, Dow and PetroChina, responsible for 58% of the world’s single-use plastic production and what stakeholders must do to force change in face of significant environmental, financial and health risks.

What non-executive directors must ask their management teams about single-use plastic production.

Overcapacity and climate risk are increasing stranded asset risk in the U.S. Plastics Production Corridor.