MOSCOW (MRC) -- SABIC was placed in the top 1% of best performers in the industrial category 'Basic Chemicals, Fertilisers, Plastics and Synthetic Rubber Companies' last month by EcoVadis, which evaluated the sustainability and CSR performance of over 30,000 companies worldwide, according to RefiningandPetrochemicals.
EcoVadis, reputed to be the world's most trusted provider of business sustainability ratings, made the evaluation based on the companies' scorecards and ratings across three calendar years - 2016, 2017 and 2018 - in its third edition of the Global CSR Risk and Performance Index.
It has been assessing SABIC’s sustainability and CSR performance for the last five years. The rating has progressively increased from 62 points in 2016, 68 in 2018, to 75 out of 100 points in 2019.
Commenting on the distinguished rating, Sami Al-Osaimi, VP, corporate affairs, SABIC, said: "The EcoVadis rating, which is based on the evaluation by suppliers through an online audit and a questionnaire, recognises our CSR initiatives and sustainability commitment."
"As we continue to implement our 2025 strategy, enable Saudi Vision 2030 and support the UN's Sustainable Development Goals, we focus on diverse CSR programmes as part of our ongoing efforts to support communities," Al-Osaimi added.
Guided by our RAISE strategy, we have been consistently engaging with social issues, from education to health to the environment and agriculture.Abdulrahman Al-Mulhem, global CSR senior manager, SABIC, said: "We are proud of this recognition by a reputed provider of business sustainability ratings, which rates firms based on their sustainability and CSR performance. Our global CSR strategic priority areas are aligned with the UN Sustainable Development Goals. Guided by our RAISE strategy, we have been consistently engaging with social issues, from education to health to the environment and agriculture."
The EcoVadis CSR recognition levels are based upon the percentile ranking of a company's EcoVadis score: Gold - top 5% (overall score between 62 and 100); silver - top 30% (overall score between 46 and 61); and bronze - top 65% (overall score between 37 and 45).
The rating methodology is built on international CSR standards, including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000 (social responsibility). These ratings cover four areas: environment, labour and human rights, ethics, and sustainable procurement.
As part of the process to qualify their suppliers, many of SABIC’s customers use the EcoVadis assessment reports. For instance, the business impact of customers requesting SABIC’s full evaluation report amounted to approximately USD1.3bn in 2018, globally. A higher score means a higher chance of becoming a preferred supplier. Some examples of requestors are Renault, Faurecia, Plastic Omnium, Schneider, BASF, DSM, Solvay, Akzo and Eastman.
As MRC informed previously, SABIC Europe, an affiliate of Saudi Basic Industries Corp (SABIC), conducted maintenance works at its cracker No.3 at Geleen site in the Netherlands this autumn. The planned maintenance started in September and lasted around 2 months. The company operates two steam crackers in Geleen which are capable of producing 1,250,000 tons/year of ethylene and 675,000 tons/year of propylene in total.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,724,670 tonnes in the first ten months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market in January-October 2019 totalled 1,066,520 tonnes, up by 7% year on year. Supply of block copolymers of propylene (PP block copolymer) and homopolymer of propylene (homopolymer PP) increased, demand for statistical copolymers (PP random copolymer) decreased.
Saudi Basic Industries Corporation (Sabic) ranks among the world's top petrochemical companies. The company is among the worldпїЅs market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
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