MOSCOW (MRC) -- Solvay announced that it is allocating EUR8 million to support employees worldwide affected by the impact of rampant inflation, said the company.
In line with the Group’s vision to create sustainable, shared value for all, Solvay will distribute an exceptional bonus to employees whose income is proportionally most affected, namely shop floor workers, staff and lower-level employees and managers located in high-inflation countries and not otherwise protected by national regulatory systems.
"Inflation and the significant impact it has on many of our employees worldwide has prompted us to go beyond. At Solvay, we care for our people and have repeatedly intervened in the past to shield them from hardship,” said Ilham Kadri, Solvay CEO. “We are proud of this additional initiative to help our people in the face of adversity. We’re helping employees cope with the increased cost of living - be it the cost of going to work, feeding a family or keeping the lights on. That is how we care AND dare."
Since the launch of the Solvay One Planet sustainability roadmap in 2020, Solvay has rolled out bold initiatives to further the pioneering social vision of Ernest Solvay, who was one of the first corporate leaders to implement what is now known as Corporate Social Responsibility (CSR). The Group places a strong emphasis on responsible capitalism and safeguarding the well-being of employees and communities. The Solvay Solidarity Fund, a special Covid-19 bonus for employees, the Solvay Cares benefits package, which includes extended parental leave for all parents irrespective of gender and, more recently, the launch of Solvay’s first employee stock ownership plan, are all examples of how Solvay is committed to improving quality of life for its employees.
As per MRC, Solvay has started works related to expansion plans that include installing equipment to increase sulfone polymers capacity at its plant in Marietta, Ohio, according to a mid-May publication by the USW Oil Workers union.
We also remind that in August, 2020, through the acquisition of the Solvay polyamide (PA) business, BASF enhanced its R&D capabilities in Asia Pacific with new technologies, technical expertise, and upgraded material and part testing services. BASF is planning to integrate the R&D centers from Solvay into its R&D existing facilities in Shanghai, China, and Seoul, Korea. The enhanced capabilities will boost BASF’s position as a solution provider to develop advanced material solutions for key industries.
Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 24,100 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet plan crafted around three pillars: protecting the climate, preserving resources and fostering better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities.
MOSCOW (MRC) -- For the first time in history a CORSIA certified batch of sustainable fuel (SAF) was delivered to a commercial Neste, the world’s leading SAF producer, said Hydrocarbonprocessing.
This was part of a pilot to certify SAF as a CORSIA eligible fuel that can be used by an airline to meet its emissions obligation under CORSIA. The Carbon Offsetting and Reduction Scheme for International Aviation (“CORSIA”) is a carbon offset and carbon reduction scheme to lower CO2 emissions for international flights, to curb the aviation impact on climate change. It was developed by the International Civil Aviation Organization (ICAO). But until now, no airline in the world has taken delivery of CORSIA-certified SAF, making this delivery a first.
Neste has been working together closely with aviation stakeholders to accelerate the use of SAF and has a long-standing partnership with American Airlines, the world's largest airline when measured by fleet size. Both companies support CORSIA’s emissions reduction goals, but as the SAF certification process under CORSIA is new, they decided to set up a pilot project to certify a batch of SAF and use that process to understand its challenges.
Compliance with the CORSIA sustainability criteria requires independent attestation by an ICAO-approved Sustainability Certification Scheme (SCS). Neste decided to pursue this certification from the International Sustainability and Carbon Certification (ISCC) system.
“Cooperation with American, ISCC and all others involved was absolutely critical in achieving this important milestone,” Thorsten Lange continues. “We will be sharing our experiences in ICAO’s upcoming Environmental Report. Because in the end, we need cooperation with all stakeholders within the aviation industry to achieve the emission reductions.'
Neste MY Sustainable Aviation Fuel is a today solution for reducing the greenhouse gas emissions of flying by up to 80% over the fuel’s life cycle compared to fossil jet fuel. Neste-produced SAF is made from sustainably sourced, 100% renewable waste and residue raw materials. As a drop-in fuel it can be used with existing aircraft engines and airport fuel infrastructure, requiring no extra investment to them.
As per MRC, Neste has made the final investment decision to invest into new renewable products production capacity in Rotterdam. The decision is based on demand for renewable products growing substantially with customers' higher climate ambitions. Neste’s current 1.4 MMt capacity for renewable products in Rotterdam is the largest in Europe. The Rotterdam refinery expansion investment of approximately EUR 1.9 B will expand Neste’s overall renewable product capacity by 1.3 MMtpy, bringing the total renewable product capacity in Rotterdam to 2.7 MMt annually, of which sustainable aviation fuel (SAF) production capability will be 1.2 MMt. The company’s target is to start up the new production unit during the first half of 2026.
MOSCOW (MRC) -- Advanced Petrochemical Company, based in Saudi Arabia, said that one of its subsidiary, Advanced Polyolefins Industry Company has signed several agreements worth USD1.6 B to fund the construction of plants at Jubail Industrial City II, said Hydrocarbonprocessing.
The project includes a development of a propane dehydrogenation plant with a total annual capacity of 843,000 tons in addition to a polypropylene (800,000 tons) and a isopropanol facility (70,000 tons), per Trade Arabia.
The consortium members taking part in the funding include Alinma, Al Rajhi, Arab National Bank, Arab Petroleum Investments Corporation, Bank Albilad, Banque Saudi Fransi, Riyad Bank, Saudi British Bank and Saudi National Bank, according to the report.
The total credit facilities consist of a SR4.7 B base facility, SR438 MM standby facility, SR600 MM bridge Murabaha facility and SR356 MM VAT Murabaha facility, the article states.
As MRC wrote previously, in April, 2021, Advanced Petrochemical Co. announced that it had resumed operations at two plants in Jubail, Saudi Arabia after the completion of a scheduled turnaround. Thus, operations at the company's polypropylene (PP) plant began on 28 March, 2021, whereas operations at its propane degydranation (PDH) unit restarted on 11 April, 202. Both plants were shut for repairs on 11 March, 2021. The maintenance works were implemented in line with the occupational safety and health standards, despite the COVID-19 outbreak.