SABIC Attends Inaugural BFA GEDS, Highlighting Efforts in Global Eco-Security and Carbon Neutrality
The Boao Forum for Asia (BFA)’s inaugural Global Economic Development & Security Forum (GEDS) was held in Changsha, China from October 18 to 20. SABIC, a global leading diversified chemical company, attended the forum as the BFA 2021 honorary strategic partner, where it underlined its continuous focus on global eco-security and firm commitment in enabling China to fulfil its “30·60” decarbonization goal through innovative initiatives.
On behalf of Yousef Al-Benyan, SABIC Vice Chairman and CEO and member of the BFA Board of Directors, Li Lei, SABIC Vice President and Regional Head, North Asia attended the forum. During the “Eco-Security and a Carbon Neutral Future” sub-forum held on October 18, Li Lei was invited to join a panel discussion, where he stated, “China’s 14th Five-Year Plan has put forward new requirements for its high-quality and sustainable development. Under China’s new development pattern, businesses are bound to further emphasize sustainable growth and operation. In the future, SABIC will strive to make full use of its advantages and expertise to facilitate the synergy between technological innovation and the sustainability topics including decarbonization and environmental protection, better contributing to global ecological and economic security.”
With the theme of “Economic Security and Sustainable Development in a Changing World”, GEDS focuses on a number of risks, vulnerabilities, and factors of uncertainty, including (but not limited to) climate security, eco-security, supply chain security and energy security, aiming to come up with forward-facing and inspiring ideas and solutions. The “Eco-Security and a Carbon Neutral Future” sub-forum specifically focuses on the risks and perils of the global eco-system and corresponding international cooperation and offers insights and suggestions on exploring China’s path towards carbon neutrality and further promoting global eco-security.
Committing to its vision of sustainability, SABIC is adhering to three “decarbonization principles” to extend its innovation-driven decarbonization initiatives:
- Covering and empowering core areas. SABIC has long promoted the use of decarbonization technologies in packaging, construction and many other fields, and actively expanded its decarbonization portfolios through innovative products and technologies, enabling diverse industries to make green transformations.
- Investing in cutting-edge R&D. Through investing in cutting-edge technologies and developing innovative products and solutions, SABIC is advocating a decarbonization path that is empowered by advanced technologies, thus providing customers with products that boast excellent performance, while also effectively reducing carbon and energy footprints.
- Circular economy. TRUCIRCLE™ portfolio of products and services has served as SABIC's recent focus in sustainability. Based on pioneering initiatives such as TRUCIRCLE™, SABIC is implementing "sustainable development" throughout the entire value chain.
In July, through its XENOY T2BX2500UV PC/PET compound, SABIC became the first chemical company to achieve UL 2809 Environmental Claim Validation for Recycled Content for ocean-bound plastics, bringing an innovative breakthrough for marine environmental protection. In addition, SABIC recently collaborated with Microsoft to create its first Ocean Plastic Mouse, marking SABIC’s exciting developments in recycling and reusing ocean plastic to produce high-quality consumer electronic products.