Saudi Basic Industries Corp 2020 AR2
The report details SABIC's performance and strategic initiatives during 2020, a year marked by the COVID-19 pandemic and Saudi Aramco's acquisition of a 70% stake in the company. Despite economic challenges that reduced net income to SAR 67 million, SABIC demonstrated operational resilience, achieving a total production of 60.8 million metric tons. The company advanced its ESG commitment by establishing an ESG Reporting Steering Committee and presenting its first formal ESG disclosure. Key sustainability highlights include progress toward running the Cartagena, Spain polycarbonate facility entirely on renewable power by 2024 and expanding the TRUCIRCLE circular solutions portfolio, which featured the large-scale production of certified circular products from recycled plastic.
Company: Saudi Basic Industries Corp
Sector: Materials
Country: Saudi Arabia
Year: 2020
Type: AR2
Pages: 72
Saudi Basic Industries Corp
Annual Report
The report details SABIC's performance and strategic initiatives during 2020, a year marked by the COVID-19 pandemic and Saudi Aramco's acquisition of a 70% stake in the company. Despite economic challenges that reduced net income to SAR 67 million, SABIC demonstrated operational resilience, achieving a total production of 60.8 million metric tons. The company advanced its ESG commitment by establishing an ESG Reporting Steering Committee and presenting its first formal ESG disclosure. Key sustainability highlights include progress toward running the Cartagena, Spain polycarbonate facility entirely on renewable power by 2024 and expanding the TRUCIRCLE circular solutions portfolio, which featured the large-scale production of certified circular products from recycled plastic.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental — AI-extracted data, may contain inaccuracies
Employees