To achieve transition to a net zero economy, we are taking concrete actions to create meaningful and measurable near and long-term reductions in our climate footprint, whilst at the same time positioning ourselves to take advantage of new opportunities offered by the evolving markets:
Continuous improvement in energy efficiency and reduction of carbon emissions is in our "DNA". It makes for a cleaner environment, reduces our use of resources, and makes our business economically more sustainable.
Projects vary widely, from new ways of improving process efficiency to innovative solutions for heat integration, to more selective catalysts for our processes. Combined, we expect implementing these efficiency improvements to reduce our overall GHG emissions by 10% by 2025 (based on our 2019 emissions).
Opportunities for improvement are identified and implemented by each business and site. However, as for safety, we also review the overall INEOS progress regularly with our owners and through the INEOS Climate & Energy Network.
INEOS actively participates in innovation projects with a focus on fuel and feedstock switches to save energy and carbon emissions. Also the development and implementation of new industrial tools and technologies are high on our INEOS innovation agenda.
Hydrogen
Like many Governments around the world, we believe that hydrogen will be required for the energy transition. We have therefore launched a new global clean hydrogen business which will make hydrogen from water by electrolysis using zero carbon electricity.
Renewable Energy
We are investing in renewable electricity to power our operations. For example, we recently announced a deal to purchase 84 MW of wind energy for our site in Antwerp.
Biomass Feedstocks
Sustainably sourced biomass is an attractive option as a raw material for our products. This is because biomass grows by taking carbon dioxide in the atmosphere.
Although the vision of INEOS is to cut emissions at source, we recognise that carbon capture and storage or use will still be an important way of mitigating against GHG emissions. In fact, we already operate carbon capture.
For the last ten years, we have been capturing GHG emissions at plants in Antwerp and Germany, removing over 1 million tonnes of carbon dioxide - equivalent to the emissions from 80,000 cars.
A critical element of our drive for a more sustainable business is ensuring that we capture and share best practice across the diverse range of businesses that form INEOS.
To do this, we have an active Climate and Energy network. This Group-wide network gathers and shares information, best practices and shapes actions and strategies on all matters to do with sustainability, for example GHG emissions, innovations in recycling, government policies, and more. The information is captured in a comprehensive sharepoint which is available to all businesses.
