MOSCOW (MRC) -- Digital technologies such as social media, mobile devices and the Internet are becoming a driving force behind greater transparency of corporate conduct, and is redefining what sustainability means for the petrochemical industry, said Hydrocarbonprocessing, citing Peter L. Cella, CEO of Chevron Phillips Chemical.
During his address, "Petrochemical Growth v. 2030: How the Connected World is Redefining Sustainability," at the Gulf Petrochemicals and Chemicals Association (GPCA) Annual Forum in Dubai, Cella discussed how sustainability has evolved over the years and how the changing expectations on transparency and corporate conduct in a digital age are impacting the industry.
"Doing the right thing and communicating with greater transparency is becoming an imperative, and social media is one of those essential vehicles," said Cella.
Social media has made the transparency process much easier for businesses, and its power is astounding -- and growing, he said. User activities on Facebook, Twitter and other social media platforms lead to almost immediate action, both positive and negative.
It’s this dynamic that businesses and leaders should recognize so they can provide greater transparency among their customers and stakeholders, he says.
Cella explained that customers, business partners, employees and other stakeholders want to work with transparent companies that openly display good corporate conduct. The numerous social media resources readily available allow for prompt and broad communication of strong stewardship and other positive endeavors for companies.
"Let’s be proactive and transparent in shaping our reputation," said Cella. "Social media platforms allow us to do just that – by providing a window into our corporate conduct. They also allow us to gather rich insight and identify potential issues. Let’s use the medium to our benefit."
As MRC wrote before, a pump serving ethylene unit No. 22 at Chevron Phillips Chemical's Sweeny, Texas plant has shut unexpectedly, according to a filing with the Texas Commission on Environmental Quality. The ethylene unit has an production capacity of 300,000 m tpa. Chevron Phillips operates three steam crackers at the Sweeny site, with estimated ethylene production of 1.9 mln mtpa.
Chevron Phillips Chemica, headquartered in The Woodlands, Texas (north of Houston), US,l is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, piping, and proprietary plastics. Chevron and Phillips 66 each own 50% of Chevron Phillips Chemical.