SABIC CEO: Saudi Arabia's Top Chemicals Company Aims for Carbon Neutrality by 2050 through Circular Economy and Energy Efficiency
Saudi Arabia's leading chemicals company, SABIC, led by CEO Abdulrahman Al-Fageeh, is embracing circular economy solutions to achieve carbon neutrality by 2050 and support Saudi Arabia's net-zero agenda.
By 2030, SABIC aims to convert 1 million tons of waste into feedstock for the petrochemical industry.
The circular carbon economy has broadened the chemicals sector's investment opportunities since 2020.
Already, SABIC has made strides in energy efficiency and reduced its carbon footprint by 12.74 percent by the end of 2023.
SABIC, the company in question, aims to achieve carbon neutrality by 2050.
In addition, they plan to produce 1 million tons of sustainably sourced chemicals by 2030, using alternative energy from plastic waste.
The company has implemented various sustainability programs since an early stage, closing ineffective sites and developing over 200 patents, nearly half of which focus on energy efficiency and sustainability.
By 2023, SABIC had already achieved 40 percent of these patents.
The circular carbon economy has broadened the chemicals sector's investment opportunities since 2020.
Already, SABIC has made strides in energy efficiency and reduced its carbon footprint by 12.74 percent by the end of 2023.
SABIC, the company in question, aims to achieve carbon neutrality by 2050.
In addition, they plan to produce 1 million tons of sustainably sourced chemicals by 2030, using alternative energy from plastic waste.
The company has implemented various sustainability programs since an early stage, closing ineffective sites and developing over 200 patents, nearly half of which focus on energy efficiency and sustainability.
By 2023, SABIC had already achieved 40 percent of these patents.
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