CEO Message About 2016 Sustainability Report
Today I am delighted to announce that we have launched our 2016 Sustainability Report, Transforming Together. The report, our sixth, is an enormous achievement. For the first time, we handed the report out alongside the Annual Report at our Annual General Meeting: an accomplishment that could only be achieved with the full support of stakeholders throughout SABIC. Both its timeliness and quality prove that we are dedicated to raising the bar for reporting in Saudi Arabia and the entire region.
At SABIC, we know that sustainability is not simply ensuring that we use the world’s resources as wisely as possible – important though this is. Sustainability involves using all resources – both natural and human – as wisely and efficiently as possible. This helps us to secure a better future for everyone, and it is central to our way of doing business. We have emerged as a stronger and more influential company as a result.
Integrating sustainability into our thinking has helped us to grow while increasing our benefit to society, supporting our 2025 strategy, contributing to Saudi Vision 2030, and ultimately spreading the benefits of ‘Chemistry that Matters™’ to communities all over the world.
By gathering information about these developments and charting them in this report, we can see where we have done well – and where we need to do better.
Overall, we have made positive progress. This includes continued growth in innovation and sustainability solutions, including the launch of the Home of Innovation™ initiative and 10 new sustainability product solutions. In resource and energy efficiency, we further reduced flaring, and increased utilization of CO2 as a feedstock. We continued to invest in human capital through learning and development as well as in our supply chain. By giving US$46.4 million to communities throughout 2016, we brought our total from the past 15 years to more than $800 million – a figure that does not even reflect the many hours our employees volunteered for worthy projects. We can be very proud of achievements such as these.
This is just a snapshot of our achievements documented in the report that benefit society, the economy, and the environment. I encourage you to read it and I hope it will inspire you to create an initiative that finds its way into next year’s report.
I would like to thank everyone who contributed to the 2016 Sustainability Report and the initiatives covered inside. With your innovation, we will continue to emerge as a leader in this field and the world’s preferred supplier of chemicals.
Yousef A. Al-Benyan, Acting VC & CEO