Saudi Basic Industries Corporation (SABIC) released its first Sustainability Report, entitled "Sustainability+Performance" on November 24, 2012. The report, covering sustainability performance in 2011, will be published annually and will serve as a valuable tool for customers, investors and stakeholders to evaluate SABIC's commitment and performance toward sustainable business practices.
The report signals a new phase in SABIC's journey towards sustainability, laying the groundwork for accelerated efforts in the years to come.
Clear throughout the report is SABIC's view that sustainability, driven by ingenuity, is part of its long-term competitive strategy.
Mohamed Al-Mady, SABIC Vice Chairman and CEO said, "SABIC's future growth and development depends on creating solutions for the major issues facing society today and tomorrow—successful solutions that create value for society and in turn, growth for our business."
Key highlights of SABIC's 2011 achievements in the report include:
• Launched a new Code of Ethics across the entire global business.
• Established environmental performance targets for reductions in greenhouse gas, energy, water, and material loss intensity in all operations.
• Assumed a leadership role in the Middle East on the implementation of Responsible Care®.
• Developed one robust set of health, safety, and security policies across the company.
• Became a member of WBCSD (World Business Council for Sustainable Development), committed to the UN Global Compact in June 2012
• Included sustainability key performance indicators (KPIs) in the enterprise management system
• Named "Employer of Choice" in the Netherlands for the sixth year in a row.
• Named "Top Employer" by the CRF Institute in China for two consecutive years.
The report was developed using the Global Reporting Initiative's reporting framework and KPMG was engaged for assessment of methodology around the key performance indicators. SABIC continually reviews its sustainability strategy and structure to ensure that it optimally supports long-term goals and enables the development of a culture of sustainability throughout the organization.
Click here to view the Sustainability Report video.