SABIC takes to the world stage to reaffirm commitment to carbon neutrality

During the World Economic Forum meeting in Davos, Switzerland, SABIC has reaffirmed before global business figures and policy makers its commitment to reaching carbon neutrality by 2050.

In line with this year’s theme of ‘Working Together, Restoring Trust’, SABIC used its reception to expand on how it will meet the 2050 carbon neutrality target, highlighting its Circular Carbon Economy (CCE) strategy. The session was hosted at the company’s iconic Innovation in the Circular Economy House (ICEhouse), a concept-structure that presents new possibilities for building in closed-loop carbon systems that reduce energy and material waste.

SABIC Vice Chairman and CEO, Yousef Al-Benyan, said: "At SABIC, we recognise the strategic role our industry must play in reaching carbon neutrality by 2050. We know we are working against the clock, and as we outlined during our event, SABIC is committed to taking action to accelerate our journey towards carbon neutrality.”SABIC’s CCE strategy is a vital component of its Carbon Neutrality Roadmap, which sets out the company’s strategy to decarbonise all owned operations by mid-century in line with the goals of the Paris Agreement.  

Launched in October of last year at the inaugural Saudi Green Initiative Forum, the roadmap provides SABIC’s most ambitious sustainability framework to date, bringing together the various elements of SABIC’s sustainability. The roadmap identifies five pathways towards total decarbonisation – Energy Efficiency; Renewable Energy; Electrification; Carbon Capture, Utilization and Storage; and Green/Blue Hydrogen. 

During this Spring edition of the Davos meeting, SABIC has also collaborated with Dutch solar technology provider Solarge, to install 46 solar panels on the building’s roof to power auxiliary lighting inside the ICEhouse to further underline its commitment to renewable power as an essential contributor to the energy transition.