Braskem Affirms Commitment to Circular Economy and to Achieve Carbon Neutrality by 2050
Braskem (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announces its latest sustainability ambitions to significantly expand its efforts to eliminate plastic waste in the environment by 2030 and to achieve carbon neutrality by 2050.
In 2009, Braskem launched the company's long-term sustainability goals for 2020, which emphasized Braskem's commitment to providing solutions that address climate change. Braskem has invested in the development of I'm green TM products sourced from renewable sources and recycled content, while in the same period reducing the intensity of carbon emissions from its operations by 20 percent. In 2018, Braskem further committed to 100% of plastic packaging being reused, recycled, or recovered by 2040. As part of its evolving sustainable development strategy, Braskem today announces additional commitments to mitigate climate change, eliminate plastic waste and provide solutions for recycled products in its markets.
BRASKEM SUSTAINABILITY COMMITMENTS
- By 2025, expand our I'm green TM portfolio to include sales of 300,000 tons of recycled content products per year.
- By 2030, continue to expand our I'm green TM portfolio to include sales of 1 million tons of recycled content products per year
- By 2030, work to divert 1.5 million tons of plastic waste away from incineration, landfill, or the environment.
- By 2030, deliver a 15 percent reduction in carbon emissions from Braskem operations.
- By 2050, achieve carbon neutrality for Braskem's global operations.
Roberto Simoes, Braskem CEO, states, "Braskem has a long history of taking action to create a more sustainable world. We have invested in renewable resources since the company's formation in 2002. As the first and leading producer of biopolymers, Braskem has been at the forefront of creating positive change to support people, society, and the environment. Braskem intends to continue its leadership as the industry transitions to a carbon neutral circular economy. Plastic plays a vital role in society, and we believe that the strategic direction of our latest sustainability commitments will allow plastics to continue its role in advancing innovation and providing sustainable solutions. With the new sustainable development goals we announced today, we are committing to create products to help our clients meet aggressive recycled content goals in the next several years and to achieve carbon neutrality by 2050."
BRASKEM'S I'M GREENTM PORTFOLIO
Braskem's I'm greenTM brand was born in 2010 together with the world's first bioplastic (green polyethylene (PE)) produced on an industrial scale, using responsibly sourced sugarcane as raw material. Cultivation of sugarcane utilized in the production of I'm green TM polyethylene captures carbon dioxide (CO2) and releases oxygen (O2), which means Braskem's bioplastic has a negative carbon footprint. From a cradle-to-gate life-cycle perspective, every ton of I'm green TM Polyethylene produced equates to 3.09 tons of CO2 captured from the atmosphere, helping reduce greenhouse gas emissions. The fully recyclable product was developed at Braskem's Innovation and Technology Center located at the Triunfo Petrochemical Complex in Brazil, where the company invested US$ 290 million to build an industrial unit with production annual capacity of 200 Kton.
Since its initial launch, Braskem's I'm greenTM sustainable portfolio of chemicals and polymers has expanded and now includes a range of other solutions made from post-consumer plastic waste as well as responsibly sourced bio-based materials including green EVA. Today, the I'm green TM portfolio includes ' I'm green TM Bio-Based' products, ' I'm green TM Recycled' products made from recovered plastic waste as well as ' I'm green TM Bio-based and Recycled' products, all reflecting Braskem's commitment to innovation and the advancement of the Carbon Neutral Circular Economy. To learn more about Braskem's sustainable I'm green TM portfolio, please visit online at: https://www.braskem.com.br/imgreen/home-en .
ADVANCING THE CARBON NEUTRAL CIRCULAR ECONOMY
Braskem's strategy to achieve carbon neutrality focuses on three pillars of Reducing emissions, Offsetting emissions and Capturing emissions. These efforts to reduce emissions will concentrate on improving energy efficiency in existing operations as well as the increased use of low carbon and renewable energy in current operations. Additionally, Braskem will continue to explore and invest in new low carbon intensity process technologies. In the area of offsetting emissions, Braskem will focus on accelerating our investments in renewable feedstock based chemicals and polymers. Lastly, Braskem's efforts around capturing emissions are being supported through the research and development of opportunities in using CO2 emissions as feedstock for conversion to value-added Chemicals.
Braskem's Circular Economy Strategy will continue to aggressively progress projects in mechanical and advanced molecular recycling. Braskem plans to continue leveraging its market leadership, polymer expertise and strong track record of growth in sustainability to develop a robust portfolio of recycled products for its clients.
To learn more about Braskem's commitment to a carbon neutral circular economy visit: https://www.braskem.com/ourcommitment .
Braskem's sustainable development strategy focuses on seven dimensions: 1) Health & Safety, 2) Financial & Economic Results, 3) Elimination of Plastic Waste, 4) Mitigation of Climate Change, 5) Operational Eco-efficiency, 6) Social Responsibility & Human Rights, and 7) Sustainable Innovation. These dimensions align closely with the UN 2030 Agenda's Sustainable Development Goals (SDGs) and The Paris Agreement to mitigate climate change
As the North American leader in polypropylene, Braskem is strongly committed to move towards a Circular Economy, where nothing is wasted and everything is transformed. Earlier this year, Braskem announced it reached its 2020 goal to become an Operation Clean Sweep® blue member. Braskem also became a founding member and funding partner of the Polypropylene Recycling Coalition, an initiative of The Recycling Partnership with a focus on increasing U.S. curbside recycling access for polypropylene (PP) and ensuring PP is widely recovered and reused in end-markets such as food and beverage packaging, consumer products and automotive. Braskem is also a founding member of the Alliance to End Plastic Waste.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are statements that are not historical facts, and are based on our management's current view and estimates of future economic and other circumstances, industry conditions, company performance and financial results, including Braskem's commitments to sustainability. The words "commits," "anticipates," "believes," "estimates," "expects," "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the implementation of operating, financing and other strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting our financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of our management and are subject to a number of risks and uncertainties, many of which are outside of our control. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. Please refer to our annual report on Form 20-F for the year ended December 31, 2019 filed with the SEC, as well as any subsequent filings made by us pursuant to the Exchange Act, each of which is available on the SEC's website ( www.sec.gov ), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.
Braskem Announces Partnership with USP to Study and Develop CO2 Conversion Technologies
Braskem and SCG Chemicals join forces to advance in the bio-based Ethylene project in Thailand
Braskem America Awarded International Sustainability & Carbon Certification PLUS (ISCC PLUS) for all U.S. Production Facilities
Braskem and Nexus Circular Strengthen Relationship Through a Long-Term Contract for Circular Plastic Feedstocks from New Advanced Recycling Facility
Braskem Announces Project to Evaluate Production of Bio-Based Polypropylene