SABIC chief says business innovation crucial for UN goals

Saudi's SABIC CEO Yousef al-Benyan attends the Saudi-India Forum in New Delhi, India, February 20, 2018. (REUTERS)
Updated 30 October 2019

SABIC chief says business innovation crucial for UN goals

  • SABIC recently launched TRUCIRCLE, an initiative that links the company’s innovative circular materials and technologies

RIYADH: Speaking to a group of innovators, investors and global leaders today at the third annual Future Investment Initiative (FII) in Riyadh on Tuesday, SABIC CEO and Vice Chairman Yousef Al-Benyan said that innovation and collaboration among global businesses will be crucial to meeting the UN’s Sustainable Development Goals (SDGs).
Speaking on a panel about “Investing for Impact,” Al-Benyan focused on the UN’s SDGs while touting SABIC’s achievements in sustainability and shared future ambitions. “I have said before that there are disruptive forces reshaping our industry, our customers and our world,” he said. “We see these as opportunities to build partnerships and devise innovative solutions that respond to these challenges.”
SABIC recently launched TRUCIRCLE, an initiative that links the company’s innovative circular materials and technologies. It seeks new partners to address one of the world’s most urgent sustainability challenges: The reduction of mixed plastic waste. The program includes bio-based renewable polymers, mechanically recycled polymers and SABIC’s flagship certified circular polymers, which are made from the chemical recycling of mixed plastic waste.

“There are disruptive forces reshaping our industry, our customers and our world.”

Yousef Al-Benyan, SABIC CEO and vice chairman

Circular polymers, Al-Benyan said, are key to fulfilling the promise of a circular economy, and stemming the flow of plastic waste into waterways and ecosystems.  “We are collaborating with our upstream suppliers and downstream customers on disruptive innovation that returns mixed plastic waste back to the original polymer for packaging applications. This is an example of the circular economy at work.”
SABIC has also made strides in reducing carbon dioxide emissions from its industrial processes. These efforts are a crucial part of SABIC’s 2025 strategy, which includes a unique SDGs roadmap. The SDGs are at the heart of the company’s business planning, and remain crucial to its global leadership.


China's aviation regulator raised concerns with Boeing on 737 MAX design changes

Updated 12 December 2019

China's aviation regulator raised concerns with Boeing on 737 MAX design changes

  • China is reviewing the airworthiness of the plane
  • China was first country to ground plane in March

BEIJING: China’s aviation regulator raised “important concerns” with Boeing Co. on the reliability and security of design changes to the grounded 737 MAX, it said on Thursday, but declined to comment on when the plane might fly again in China.
China is reviewing the airworthiness of the plane based on proposed changes to software and flight control systems according to a bilateral agreement with the United States, Civil Aviation Administration of China (CAAC) spokesman Liu Luxu told reporters at a monthly briefing.
He reiterated that for the plane to resume flights in China, it needed to be re-certified, pilots needed comprehensive and effective training to restore confidence in the model and the causes of two crashes that killed 346 people needed to be investigated with effective measures put in place to prevent another one.
China was the first country to ground the 737 MAX after the second crash in Ethiopia in March and had set up a task force to review design changes to the aircraft that Boeing had submitted.
The US Federal Aviation Administration (FAA) will not allow the 737 MAX to resume flying before the end of 2019, its chief, Steve Dickson, said on Wednesday.
Once the FAA approves the reintroduction into service, the 737 MAX can operate in the United States, but individual regulators could keep the planes grounded in other countries until they complete their own reviews.
“Due to the trade war, the jury is still out on when China would reintroduce the aircraft,” said Rob Morris, Global Head of Consultancy at Ascend by Cirium.
Chinese airlines had 97 737 MAX jets in operation before the global grounding, the most of any country, according to Cirium Fleets Analyzer.