Chemical company LyondellBasell announced the launch of its +LC (Low Carbon) solutions, a new range of chemicals produced using recycled and renewable feedstock that manufacturers can use to make their products more sustainable and help them meet emissions goals.
LyondellBasell is among the world’s largest producers of polymers including propylene oxide and its derivatives including propylene glycol, propylene glycol ethers and butanediol. Traditional products from fossil fuel based chemical manufacture include plastic, nylon and polyester. LyondellBasell chemical products are used in multiple sectors from insulation materials to automotive and consumer goods.
The company’s +LC solutions are sourced from recycled and renewable feedstocks and designed under an International Sustainability and Carbon Certification (ISCC) PLUS certified mass balance methodology. This methodology enables manufacturers, whose products blend conventional raw materials with the renewable and recycled feedstock, to claim the benefits of the more sustainable feedstock in their final product. Every product within the +LC range comes with an ISCC+ mass balance certificate so it can be traced throughout the value chain. Moreover, Product Carbon Footprint (PCF) data is available for these products, enabling businesses to directly compare the carbon footprints of +LC solutions with traditional fossil-based counterparts.
Kimberly Foley, executive vice president, Intermediate & Derivatives and Refining said:
“Sustainability is woven into the fabric of our business strategy. The +LC solutions mark a critical step for our customers as they increasingly shift towards more ambitious GHG emissions reduction targets and product circularity. These low-carbon solutions will use renewable, bio-based and recycled feedstocks that empower our customers to reduce their Scope 3 GHG emissions. We have applied our long history of innovation, customer-centric approach, and focus on sustainability to engineer a product range that aligns both with our company’s and our customers’ sustainability ambitions.”
The +LC solutions are currently available in Europe and the Americas, and plans for expansion into Asia are set for early 2024.
About the Authors
Associate Director, Investment Banking
Prachurjya has over 16 years of experience in investment banking with Acuity Knowledge Partners. At Acuity, he has led sector and product-specialist pilot teams across Capital Markets, ESG, Debt Advisory, Loan Syndications, Metals & Mining and Real Estate. He has been actively involved in setting up and on-boarding new ESG Advisory, ESG DCM and Sustainable Finance teams for various bulge bracket investment banks. Within DCM and Rating Advisory, he has been instrumental in helping the clients achieve over 30% in annual savings on both regular and adhoc tasks through standardization of the outputs and deployment of our proprietary BEAT tools.
Delivery Manager, Investment Banking
Puja has 7 years of extensive experience in ESG, Climate Change & Sustainability and she is supervising the ESG team at Acuity. She also has diverse experience in conducting ESIA, EHS compliance audits, ESG Risks and Controls, EHS & ESG Due Diligence assessments. Prior to joining Acuity, she was working with companies like KPMG Global Services, EY India and ERM India. She has expertise in provisioning extensive research requirements for clients through preparation of Peer Benchmarking, Target Compilation, Sustainability report, Sustainable Finance Updates and Sectoral ESG Thematic Detailing Engagement.
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