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By placing sustainable impact at the heart of our growth strategy, we are positioned to become the world’s preferred leader in chemicals while breaking new ground in innovating sustainable products in the coming years and decades.
Our Petrochemicals business expects sustainability to exert pressure on the industry to act on plastic waste, to utilize waste as a feedstock, and to take meaningful steps to reduce and eliminate the GHG released in manufacturing processes. Although capacity growth is still exceeding demand in certain products in 2023, SABIC expects more favorable supply/demand dynamics after the additions of announced capacity.
SABIC Agri-Nutrients expects a growing global push to replenish grain stocks, safeguard crop yield against adverse weather, and control escalating food prices. This will place demands on agricultural and energy sectors and will be crucial in tapping into the Bio-growth economy moving forward.
Our Specialties business will focus on developing its competitive edge to position SABIC as one of the leading players in the “Multi-Segment Premium” specialty chemicals segment. It aims to address challenges by focusing on the growth of the Exabyte, Wellbeing, Net Zero, and Circular economies, and aiding top OEMs to deliver on transformational megatrends owing to technological advances.
Hadeed continues to work to reduce its environmental footprint through process innovations and improvements. Compared to 2021, our key environmental KPIs have shown strong improvement with GHG, energy, water, and waste intensity falling by 9%, 4%, 7% & 9% respectively. Meanwhile, our subscription of the ISO 50001 certificate reinforces our determination to reduce energy against national energy targets (SEEC).
For more information about how our SBUs are supporting SABIC in its commitment to innovation and sustainability, please refer to our Annual Report.
We are developing products and solutions in which circularity and carbon neutrality are integral and enhance performance metrics.