SABIC is deepening our climate commitments by aligning our strategy and goals with science and doubling down on our work to reduce our GHG, energy, water, and material loss impacts.
Our efforts will bear fruit when we identify new science-based targets, including targets on Scope 3 emissions, and use platforms including SBTi and TCFD to establish goals and report on our progress, risks, and opportunities.
We also have innovative projects in development that will contribute to our long-term goals:
- We are replacing fossil fuel-based boilers with biomass-fueled boilers at our Bergen op Zoom site.
- In the Netherlands, we are working with partners to set up a significant power purchase agreement to source renewable power from a wind park that will be operational soon.
- In Spain, our polycarbonate facility in Cartagena is set to become the world's first largescale chemical production site to be run entirely on renewable power, following the signing of a major power purchase agreement.
- In Yanbu, we are approaching the regulators and potential project developers to build a 400-megawatt solar photovoltaics project in partnership with the utility company Marafiq and the Royal Commission of Yanbu.
Our new climate governance structure, EECM, has established several virtual teams to develop a roadmap with different options that allow SABIC to support the government’s 2025 SEEP goals. SABIC will embark on eight megaprojects, with an expected investment of US$2.7 billion, to help us reduce the primary energy and feedstock deficit of 47 million MMBTU. We have prioritized 90 projects that hold the greatest potential for improving natural resources use.
Lastly, we are beginning a large-scale program to digitize our ESG data collection, creating a digital data footprint from the plant to corporate level. We began this work in 2020 with a pilot project focused on 35 initiatives, nine of which are manufacturing.