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SIBUR Receives Highest-category ESG Rating from China’s Largest Rating Agency

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The rating agency China Chengxin Green Finance Technology (Beijing) Ltd. has assigned SIBUR an ESG rating of A-, making SIBUR the only Russian company to receive a rating in CCXGF’s highest category. SIBUR also ranks among the top 10 in CCXGF’s ESG rating of global chemical companies.

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Regarding the criteria assessed by the rating, SIBUR’s performance easily exceeded the industry average. Notably, the agency gave the company a score of 95.76 out of 100 for environmental stewardship, while the average for other companies in the sector was 52.19. SIBUR also received a score of 80.73 for its work on occupational safety, compared with an average of 55.04 for other companies, and a score of 85.58 for its disclosure of decisions, while the industry average was 36.75.

The analytical report also noted SIBUR’s efforts to recognise, assess and reduce climate risks. Moreover, the authors of the report drew attention to the company’s sustainable development strategy, which, among other things, sets goals for reducing greenhouse gas emissions. The company’s efforts in the area of biodiversity conservation were also mentioned: SIBUR supports projects and initiatives aimed at species conservation, and its production sites are not located in areas of high biodiversity value.

“The Asia-Pacific countries are developing their expertise when it comes to sustainability and paying increasing attention to the sustainable development agenda every year. In this context, the assignment of an A rating to SIBUR by China’s largest rating agency is a very important result. It confirms that our practices are in compliance with best global practices and is an additional point of engagement for developing dialogue with partners in important markets for the company,” said Alexey Kozlov, SIBUR’s Managing Director and a member of the company’s Management Board.

“We place great value on our partnership with SIBUR and see immense potential in our collaboration with Russian clients,” says Dongyang Xue, President of CCXGF. “CCXGF is at the forefront of domestic green finance and ESG service provision in China. Our expertise positions us to significantly boost SIBUR’s international profile, particularly in the Chinese market. Through our ESG rating, we aim to enhance transparency and foster a deeper understanding of SIBUR among international stakeholders”.

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​​SIBUR to Use Green Energy to Reduce Production Carbon Footprint

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SIBUR, Russia’s largest producer of polymers and rubber, has agreed to purchase additional electricity from renewable sources to reduce the carbon footprint of its production sites, in line with its ESG strategy.

 

The company plans to purchase 62,000 MWh of electricity generated at TGC-1 hydroelectric power plants to meet the energy needs of two of its production facilities: SIBUR-PETF and POLIEF, both of which manufacture polyethylene terephthalate.The agreement will enable SIBUR to operate one of the sites, SIBUR-PETF, entirely on renewable energy, thus achieving one of the most ambitious goals outlined in its sustainability strategy.

 

In addition, the deal will increase the use of green energy at POLIEF, which already operates a solar power plant that provides approximately 25 percent of the electricity used for the production of Vivilen granules, which are made with recycled plastic (rPET).

 

According to its sustainability strategy, SIBUR aims to increase the share of renewable energy in its energy mix fivefold by 2025 compared with 2020 levels. The company is already operating two solar power plants. In addition to utilising green energy, SIBUR is committed to reducing greenhouse gas emissions from production through the adoption of low-carbon technologies.