LyondellBasell Climate Engagement Case Study

This case study documents the engagement of Hermes EOS with LyondellBasell Industries regarding climate change initiatives since 2017. It serves as an update to a previous case study published in 2022, reflecting the company's progress in setting and disclosing ambitious climate targets. The engagement involved discussions with the CEO and senior management to establish forward-looking targets for energy efficiency and carbon emissions. Notably, LyondellBasell has committed to achieving net-zero Scope 1 and 2 emissions by 2050 and has set a 30% reduction target for these emissions by 2030. The company has also established a 30% reduction target for Scope 3 emissions. The case study outlines the collaborative efforts of CA100+ investors in promoting these targets and highlights the company's commitment to addressing plastic waste and advancing a circular economy. Future engagement will focus on clarifying the company's climate transition pathways and aligning them with its capital expenditure plans.