Could you give us an overview of LyondellBasell’s presence in APAC?

APAC is a big part of our current footprint and a significant contributor to our future growth. All of LyondellBasell’s business divisions – Olefins & Polyolefins, Intermediates & Derivatives, Advanced Polymer Solutions, and Technology – are found in the region.

In 2021, LyondellBasell, as part of a JV in China, produced over a million tons of polypropylene (PP) and polyethylene (PE), making us a leader in the polyolefins space. In South Korea, we added a new JV last year expanding on an existing JV, boosting our PP production by another 400,000 t/y. In 2022, we began developing another 250,000 t/y PP capacity at our existing JV in Thailand.

Within the Intermediates and Derivatives unit, LyondellBasell expanded its JV with Sinopec for propylene oxide (PO) and styrene monomer (SM) to substantially grow our product output.

Finally, we run 14 compounding sites for advanced polymers across the region. Advanced polymers are a growing market with incremental bouts of recent growth.

To support the above-mentioned growth, we are ramping up our sales and lab capacity in China as well as the rest of APAC.

How do you think Asia’s growth will be driving demand for chemical markets?

Asia is poised to stay the largest growth region for our industry. By most estimates, 60% of global growth will come from this part of the world. We note a diversified demand base for different products, such as more carbon-efficient cars, fresher and safer foods, more energy-efficient building materials, and, across all products, a higher sustainability value. While much of this demand is globally relevant, I believe it is much stronger in Asia given the region’s rapid industrialization and young demographic.

LyondellBasell announced it will exit its refining business and presented its reinforced sustainability goals under the “Future Focused” 2021 Sustainability Report. Can you brief our audience on the company’s sustainability strategy?

As one of the largest producers of chemicals and plastics globally, we hold both the potential and the responsibility to use our scale and reach to make a meaningful impact. Our sustainability goals can be divided into three broad areas: to end plastic waste; to address climate change; (and) to advance a thriving society. Across all three dimensions, we initiated some of the most ambitious targets in the industry by 2030, including producing and marketing 2 million tons of recycled and renewable-based polymers on an annual basis; achieving absolute reduction of 30% in Scope 1 and Scope 2 emissions (as compared to 2020 baseline emissions); securing minimum 50% of our electricity from renewable sources; and reaching gender parity among our senior leadership roles (by 2032). By 2050, LyondellBasell strives to become GHG net-zero.

Could you elaborate on the company’s flagship Circulen portfolio of polymers?

Under this umbrella brand, we have three well-defined product lines that allow us to fully cover the entire spectrum of circularity today and in the future. The first product line is CirculenRecover and consists of polymers made from plastic waste undergoing a mechanical recycling process. Second, CirculenRevive covers plastic waste that is transformed back into feedstock to produce new polymers, via a process of advanced or molecular recycling. LyondellBasell’s MoReTec proprietary technology has put us at the frontier of this methodology. And finally, CirculenRenew is our range of polymers made from renewable feedstocks. This breadth of approaches is what sets the path forward for a long-term circularity journey that saves plastic waste from ending up in landfills and productively inserts it back into the economy.

How is LyondellBasell encouraging talent development within its workforce?

This is a very central topic for us, and we invest assiduously in keeping our workforce motivated and engaged. Specifically looking at young achievers, we sponsor various talent development programs and mentorships in Asia. For instance, we are a proud sponsor of the University Chemical Creative Design Challenge, an online hackathon competition in China. This is a great platform for young students to connect with mentors and better understand the industry, as well as utilize their creativity to come up with solutions. Diversity, equity, and inclusion (DEI) is also a key priority for us, and we work closely with our supplier base and broader stakeholders to achieve our vision of a thriving society.