Saudi Basic Industries Corporation (SABIC) yesterday released its first Sustainability Report entitled "Sustainability+Performance." The report, covering sustainability performance in 2011, will be published annually and will serve as a valuable tool for customers, investors and stakeholders to evaluate SABIC's commitment and performance toward sustainable business practices.
The report signals a new phase in SABIC's journey toward sustainability, laying the groundwork for accelerated efforts in the years to come. SABIC formulated its sustainability governance structure in 2009 and led by its executive team, has established consistent global practices that are intended to drive a consistent and balanced framework for environmental, social and economic action.
Clear throughout the report is SABIC's view that sustainability, driven by ingenuity, is part of its long-term competitive strategy. Mohamed Al-Mady, SABIC vice chairman and CEO, said, "SABIC's future growth and development depends on creating solutions for the major issues facing society today and tomorrow - successful solutions that create value for society and in turn, growth for our business."
Key highlights of SABIC's 2011 achievements in the report: Launched a new code of ethics across the entire global business, established environmental performance targets for reductions in greenhouse gas, energy, water, and material loss intensity in all our operations, assumed a leadership role in the Middle East on the implementation of Responsible Care, and developed one robust set of health, safety, and security policies across the company.
The other highlights: Became a member of WBCSD (World Business Council for Sustainable Development), committed to the UN Global Compact in June 2012
Included sustainability key performance indicators (KPIs) in the enterprise management system, named Employer of Choice in the Netherlands for the sixth year in a row, and named Top Employer by the CRF Institute in China for two consecutive years.
SABIC releases inaugural Sustainability Report
