MOSCOW, RUSSIA – 13 November 2024 – SIBUR, Russia’s leading producer of polymers and rubber, actively engaged in the business agenda of the UN Climate Change Conference (COP29), held in Azerbaijan. The company showcased its advancements in adopting high-tech solutions, executing climate-focused projects, trading carbon credits, managing ecosystem risks, and fostering a circular economy.
At the Russian Pavilion during COP29, SIBUR emphasized its pioneering role in sustainability. In 2019, it became one of the first companies in Russia to adopt a dedicated sustainability strategy. By the end of 2024, SIBUR expects to fully achieve its targets, with notable progress such as reducing greenhouse gas emissions by 5% in its Gas Processing segment and 15% in Petrochemicals, ahead of schedule. The company is also working to transition its SIBUR-PETF production facility to 100% renewable energy, aiming for carbon neutrality by 2025.
Over the past decade, SIBUR has implemented eight climate initiatives, collectively reducing CO₂-equivalent emissions by 10.8 million tonnes. These efforts have generated more than 3.3 million verified carbon credits, which are available for trade on both domestic and international markets. The company has successfully completed over 15 carbon credit transactions, helping customers and partners offset the environmental impact of their operations, products, or events.
A portion of these carbon credits is derived from forestry projects, including the planting of 5 million trees in SIBUR’s operational regions to enhance CO2 capture. Future plans involve restoring wetlands at former peat extraction sites, a move expected to prevent forest fires and enhance natural carbon sinks.
In a landmark move, SIBUR will offset the Russian delegation’s carbon footprint at COP29, marking the first carbon-neutral delegation in the conference’s history. This offset will utilize credits from an energy efficiency project at SIBUR-Neftekhim, verified by TÜV AUSTRIA Standards & Compliance, with the carbon footprint calculation performed by Kept.
SIBUR’s commitment to sustainability underscores its dedication to reducing environmental impact while promoting innovative solutions for a greener future.
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