In 2020, Braskem long-term commitments were reassessed and renewed, considering the global challenges for 2030, in line with the 2030 Agenda and the Paris Agreement. Developing these new challenges was a broad and demanding process that took months. It involved 27 workshops and interviews with more than 500 leaders and members of the company. It also considered the analysis of corporate risks in relation to our business and value chain, mapped by the corporate risk management area.
The new Global Sustainable Development Strategy was approved by the Board of Directors and addresses seven relevant dimensions for the business in long-term commitments, connected to Braskem’s materiality matrix. In this way, its long-term strategy seeks to address, as a priority, the following sustainable development objectives:
- In 2022, we achieved 31% of our 2030 commitments.
- Access 2022 Integrated Report to understand the achievements in each of our commitments
UNDERSTAND OUR COMMITMENTS:
Safety is a non negotiable value for Braskem. Ensuring the safety and health of people, including team members, contractors and surrounding communities, and process safety are key elements for the continuity of the Company’s operations. In 2030, Braskem wants to remain among the best global chemical and petrochemical companies in relation to Health, Occupational Safety and Process Safety.
2030 Objectives. To reduce the accident rate, with and without lost time, to 0.5 accidents per one million hours worked and reduce the accident rate of Tier 1 process to 0.05 accidents per one million hours worked.
To achieve this goal, the company develops the following projects:
- Human Reliability Program: education, knowledge management and practical actions in the field on attitudes that reduce exposure to risks at work.
- Contractors Safety: improvement of safety management requirements for companies hired at industrial units, based on global standards.
- Integral Health Program: the program encompasses the occupational physical aspects, the emotional and social aspects of the human being.
- Digital Transformation: use of tools created by Digital Center e 4.0 Industry, based on data analysis and automation and focus on accident prevention.
Creation of Sustainable Value. Incorporation of ESG criteria into the business strategy as a key lever for the long term growth. By 2030, In 2030, Braskem wants to be recognized by the market as a leading company for its contribution to sustainable development, creating value for shareholders and ensuring the interests of all our stakeholders are attended.
2030 Objectives. Maintain financial health and discipline in capital allocations, focusing on value creation, strengthening the relationship with the market based on ESG value. In this sense, the Company aims to (i) 1st quartile of shareholder return of the petrochemical industry, (ii) among the best companies in the Dow Jones Sustainability Index, (iii) improve governance and compliance processes, in accordance with best practices, and (iv) achieve an excellent level of reputation with clients. To this end, the Company is working on the following fronts:
- Compliance System: continuous improvement of the Compliance System and governance practices.
- Global Compact CFO Principles: commitment to integrating the UN’s Sustainable Development Goals into the Company’s financial management.
- Unification of the Integrated Report: unique document containing the main sustainability reporting standards.
- Executives with ESG goals: executives with goals linked to ESG performance.
- Financial Discipline and ESG Value Creation: initiatives to maintain the financial health and discipline in capital allocations, focused on value creation, strengthening the relationship with the market based on the ESG value
Circular economy as a business opportunity. Braskem’s strategy of transition to the circular economy is based on mechanical and chemical recycling, carried out through partnerships for the transformation of plastic waste into new products and for the development of innovation and technology, to that expand the capacity of collection, sorting and transformation of plastic waste, leveraging the recycling business. By 2030, Braskem wants to be globally recognized as a company that develops the recycling value chain in the regions where it operates and wants to reach the leadership of the theme in the Americas.
2030 Objectives. To increase the sale of recycled products, to work on preventing the disposal of plastic waste, and make the products increasingly more circular. In this sense, the Company has the following goals: (i) to sell 300 thousand tons per year of products with recycled content by 2025, and (ii) to recover 1.5 million ton of post consumption plastic per year through direct and indirect actions and increase the sale of products with recycled content to 1 million tons a year. To this end, the following partnerships were formed:
- Valoren (BR): technological development and construction of the first advanced recycling unit in Brazil, in partnership with Valoren, integrating and bringing synergy with the mechanical recycling line on the same site. The Company’s contribution will be R$44 million, to enable the construction of the unit by Valoren. In addition, the project is expected to start operations in early 2023.
- Tecipar (BR): agreement for the purchase of plastic waste that enabled the construction of a triage plant with capacity to provide 2kt/year in waste.
- Alcamare (MX): partnership with the largest recycler in the region, working together to develop and sell recycled PE and PP grades.
- Cyclyx (US): consortium-based entity that aims to develop innovative recycling solutions for all types of post-use plastics.
- Circular Packaging Development Center (BRA): construction of an innovation hub, through which the company will establish partnerships with customers, brand owners, designers, startups and universities to develop more sustainable packaging. The investment will be R$20 million and the Center is scheduled to open in the first half of 2022.
To achieve carbon neutrality by 2050. Braskem works in alignment with the Paris Agreement, based on a climate change mitigation and adaptation plan, which aims to reduce, offset and capture emissions, as well as adapt its operations to potential climate risks. Thus, it has contributed significantly to the fight against climate change, through energy efficiency in its operations, increased use of renewable energy and expansion of the portfolio of chemicals and polymers from renewable sources.
2030 and 2050 Objectives. To reach carbon neutrality by reducing and compensating emissions, through renewable raw material, and carbon capture. Thus, it intends to (i) reduce its Scope 1 and 2 GHG emissions by 15% by 2030, through the purchase of renewable energy and energy efficiency projects; (ii) to reach carbon neutrality by 2050, through energy efficiency, purchase of renewable energy, compensation, and carbon capture, and (iii) achieve 1.0 million tons of bioproducts production capacity by 2030.
To achieve these goals, the Company is working on the following fronts:
- Energy Efficiency: energy efficiency projects, oriented by digital tools and internal carbon pricing applied to new investments.
- Renewable Energy: long-term agreements for the purchase term agreements for the purchase of renewable energy that, until now, total 1.5 million tCO2 avoided during the term of the agreements
- Carbon Offset: additional 60kt in the production capacity of Green Ethylene in Triunfo/BR, with a US$61 million investment, in addition to feasibility studies for other expansion projects.
- Innovation and Technology: (i) technology development for carbon capture and its use as a raw material, in partnership with the University of Illinois, (ii) partnership with Haldor Topsoe for the development and production of Green MEG, carried out from sugarcane, and (ii) partnership with Sojitz, a chemical and polymer distributor with a strong presence in the Asian market, to set up a joint venture for the production and sale of bio-MEG (monoethylene glycol) and bio-MPG (monopropylene glycol).
Increasingly sustainable operations. Braskem works continuously to improve the energy efficiency of its operations , has a reference model in water treatment and reuse and periodically evaluates the water risk of its operations. Thus, it contributes to make operations increasingly sustainable , ensures continuity of value generation and contributes to people’s lives. By 2030, Braskem wants to be among the references in operational eco efficiency in the global petrochemical industry.
2030 Objectives. The indicators for this dimension refer to the availability of water consumption, energy consumption, hazardous waste generation, air emissions, and chemical and biochemical oxygen demand. Challenging commitments are being defined.
To be recognized as the most humane company in the sector. Since its creation, Braskem has been committed to its value chain and has operated mainly through private social investment programs to promote local development. By 2025, Braskem wants to be recognized as the most humane company in the sector, which respects and promotes human rights throughout the chain and local development for the communities surrounding its operations.
2030 Objectives. To respect and promote human rights throughout the chain and the local development for the communities surrounding the operations. In this sense, the Company aims to: (i) increase the number of women in leadership positions by 2030, (ii) increase the number of black members in the Brazilian and US operations, (iii) manage 100% of the high and medium risks of our human rights value chain by 2030, and (iv) increase the number of people benefiting from ISPs and donations to 250,000 by 2030. To thisend, we highlight:
- Internship program: flexibilization of criteria for the selection of sub represented groups, with 40% of openings not requiring English.
- Blind CV: blind assessment of CVs in selection processes, among other initiatives, to reduce prejudice and promote equal opportunities.
- CEO Pledge for Diversity: commitment to actions that promote a diverse and inclusive environment for its members.
- Maceió Case: continuity of the Financial Compensation and Relocation of People Program, in a fair and safe manner, of the region’s monitoring and well stabilization actions.
- COVID-19: continuity of cooperation actions to combat the pandemic and support communities affected by the social crisis.
- ISP and Donations: continuity and expansion of local community development programs, focusing on conscious consumption and entrepreneurship.
Key factor to enable all the other commitments. Braskem is dedicated to continuing to be a pioneer in the production of thermoplastic resins and chemicals based on renewable materials and to significantly expand the production of resins and chemicals with recycled content, so opportunities in technology and innovation to leverage value creation are essential. By 2030, Braskem increasingly wants to accelerate and deliver innovative and sustainable solutions to consumers and society.
2030 Objectives. To consolidate the sustainable pipeline of projects and to continuously enable innovative and sustainable solutions, achieving a positive impact from R&D projects, with a Sustainability Index grater than 90%. The Index present the percentage of only I&T project portfolio that has a positive environmental impact. In this sense, the Company’s operating platforms are:
- Next-Generation Processes: new technologies for existing assets, improving carbon and energy efficiency and creating differentiation in performance.
- Recycling: projects for converting plastic waste into value added products. Includes chemical and mechanical recycling technologies and processes.
- Convertion of CO2 to Chemicals: technologies to convert CO2 directly into chemicals, materials and other products. Includes solutions of biotechnology.
- Conversion of Biomass into Chemicals: technology for converting biomass into value-added chemicals and materials.
- Material Replacement: expand the scope of the lightweight platform and include technologies and products, delivering more sustainable solutions to customers.