RIYADH - The Saudi Basic Industries Corporation (SABIC) won the award for the best initiative for recycling and circular economy, awarded by (Chemical Week) magazine for the year 2021 AD, in international recognition for its outstanding commitment to innovation and cooperation, in addition to being included in the final list for the category of the best sustainable feedstock materials. Awards In recognition of excellence in sustainability among global chemical producers, the winners are selected by a panel of 12 industry experts.

SABIC Vice Chairman and CEO Yousef bin Abdullah Al-Bunyan expressed his pride in this honor, which befits a leading global company in the field of sustainability, pointing out that the world is moving rapidly towards carbon neutrality, and that “SABIC” is working hard to implement the circular economy and design Plastic products are produced, used and recycled more sustainably.

And he indicated that the march towards sustainability must witness joint cooperative efforts, and that the chemical industry occupies a unique position that enables it to bring about a positive transformation in industries and societies, stressing that SABIC is benefiting from its leading position in the field of sustainability, environmental, social and corporate governance practices to enhance cooperation with more parties. related issues, providing greater value, and doubling their contributions to facing global challenges.

The award-winning SABIC initiative brought together strategic partners across the value chain in a unique pilot initiative to recycle flexible plastic packaging that is recovered from consumers in-store and into circular polymers for food packaging.

For their part, the judges praised SABIC’s collaborative approach, noting that “this multilateral partnership should serve as a model for companies and other organizations seeking to change the world’s recycling system.”

SABIC is currently working to raise the level of circular polymers production, as it will establish the world's first advanced commercial recycling plant in 2022 AD in Gelen, Netherlands.

SABIC's winning of this award follows its recent announcement of its carbon-neutral strategy, which affirms the company's commitment to the goals of the Paris Agreement, and its ongoing efforts to find solutions that can reduce greenhouse gas emissions.

A number of notable developments by SABIC have put it at the forefront of supporting the circular carbon economy, including its promotion of renewable energy and the operation of the world's largest CO2 capture and purification plant in Jubail.

Earlier this year, SABIC also confirmed the establishment of new collaborative initiatives aimed at developing and providing solutions for electrically heated steam cracking units furnaces, and establishing the world's first large-scale chemical production site operating with 100% renewable electric energy in The city of Cartagena, Spain.