Highlights progress on sustainability value creation and capital management

SABIC, the Saudi-based petrochemical company, has announced releasing its 2013 Sustainability Report. Entitled “Creating Lasting Value”, it reflects the company’s commitment to continuously create more sustainable business processes and value for its stakeholders, the announcement added.

According to SABIC, the highlights of the report are:

• Its approach to developing the highest standards of ethics, integrity, and compliance throughout its global business culture
• Accounting of the company’s progress in achieving previously identified goals and actions, providing a transparent review of the successes and challenges for the company during the year
• Linkage of its sustainability strategy to its 2025 business strategy
• Its portfolio of products and their impact on the sustainability needs of key markets
• Progress towards its environmental footprint goals and a new metric around its use of recovered CO2 as a feedstock
• Major improvements in contractor safety
• Vital contribution of employee volunteers to Corporate Social Responsibility

Speaking about the report, Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of the Royal Commission for Jubail and Yanbu and Chairman of SABIC said: “This is our third report and it reflects the company’s ongoing journey toward achieving the highest level of sustainable performance possible. Our mission is to become more efficient in reducing our consumption of finite materials and our environmental footprint, while, at the same time, aggressively pursuing our strategy of enabling others to operate in a more sustainable manner through our innovative product portfolios.”

Commenting on the report, Mohamed Al-Mady, SABIC Vice Chairman and CEO, added: “We have moved forward in many areas, but we still have much to do…. Our commitment to sustainability is shared across all divisions of the company – it is focused on making a positive impact at every stage of the product life cycle. Our responsibility starts with supply chain decisions and continues through our production processes, distribution, customer applications and product end-of-life.”