LyondellBasell Industries N : Sustainability Report (LYB Sustainability Report)
LYB
Published on 04/14/2026 at 08:18 am EDT
focus
Maintaining
Vision to value
Sustainability Report 2025
Vision to value
Maintaining focus
In a year defined by economic pressures and a rapidly shifting external landscape, we sharpened our focus
on what creates and protects value for our business and stakeholders. Being value focused means concentrating our sustainability efforts where we can strengthen performance, reduce risk and position the company for future growth, including through safe, reliable
and cost-effective operations, customer solutions, and regulatory readiness.
We're taking action across multiple fronts. We're pressing ahead with investments like MoReTec-1. We're forging strategic alliances across the value chain and actively engaging with policymakers and standard setters. Through discipline and focus, we're positioning LYB to provide the next generation of sustainable solutions.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
01
About this report Forward-looking statements
This Sustainability Report covers the period from January 1 to December 31, 2025, and includes sustainability performance information related to LyondellBasell Industries N.V.
We include consolidated data from the operations over which we, or one of our subsidiaries, have operational control. Unless otherwise indicated, the words "company," "we," "our," "us," "LYB" and "LyondellBasell" are used in this report to refer to the businesses of LyondellBasell Industries N.V. and its subsidiaries
within the operational control boundary. The narrative may include information related to our non-operated joint ventures and activities that occurred during 2026 prior to publishing.
Financial data includes joint ventures to the extent appropriate under Generally Accepted Accounting Principles in the
U.S. (U.S. GAAP). Consolidated Financial Statements are prepared from the books and records of LYB. This report intends to address those stakeholders interested in our overall sustainability performance.
The Health, Safety, Environmental & Sustainability Committee of our Board of Directors reviews our Sustainability Report annually.
We have considered the following sustainability reporting standards and frameworks in our disclosures. Indices can be found at https://www.lyb.com under Sustainability Reporting.
Global Reporting Initiative (GRI)
Sustainability Accounting Standards Board (SASB)
Report boundaries
The non-financial data in this report relates to operations at our majority-owned or operated manufacturing sites, pipelines, research or technical centers and large offices for 2025, unless stated otherwise. Assets that are acquired or divested will be accounted for in our base year greenhouse gas (GHG) emissions in accordance with the Greenhouse Gas Protocol, unless stated otherwise. The narrative may include our non-operated joint ventures. Reporting against our recycled and renewable-based polymer goal includes:
(i) joint venture production marketed by LYB plus our pro rata share of the remaining production produced
and marketed by the joint venture, and (ii) production via third-party tolling arrangements.
Subsidiaries are defined as those companies over which we, either directly or indirectly, have control through a majority of the voting rights or the right to exercise control or to obtain the majority of the benefits and be exposed to the majority of the risks.
Subsidiaries are consolidated from the date on which control is obtained
until the date that such control ceases. All intercompany transactions and balances have been eliminated
in consolidation.
For more information contact [email protected]
The statements in this report relating to matters that are not historical facts are forward-looking statements.
These forward-looking statements are based upon assumptions of management of LYB, which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. When used in this
report, the words "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, market conditions, including
the prolonged industry downturn, the business cyclicality of the chemical and polymers industries; industry production capacities, operating rates, and the pace of global capacity rationalizations; the availability, cost and price volatility of raw materials and utilities, particularly the cost of oil, natural gas, and associated natural gas liquids; competitive product and pricing pressures; the supply/demand balances for our and our joint ventures' products; the impacts of tariffs and trade disruptions; our ability to maintain our investment-grade credit balance sheet and execute our capital allocation strategy, including our ability to pay dividends; our ability
to comply with debt covenants and repay our debt; labor conditions; our ability to attract and retain key personnel; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, supplier disruptions, labor shortages, strikes, work stoppages or other labor difficulties, transportation interruptions, spills and releases and other environmental risks); our ability to manage costs; future financial and operating results; our ability to complete capital projects on time and on budget and successfully operate the asset; our ability to align our assets and grow and upgrade our core, including completing the sale of certain European assets; our ability to successfully implement initiatives identified pursuant to our Value Enhancement Program and generate anticipated earnings; our ability to reduce our fixed costs, working capital and capital expenditures and increase cash flow; legal and environmental proceedings; tax rulings
and related consequences or proceedings; technological developments, and our ability to develop new products and process technologies; our ability to meet our sustainability goals, including the ability to operate safely, increase production of recycled and renewable-based polymers, and reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to procure energy from renewable sources; our ability to build a profitable Circular & Low-carbon Solutions business; our ability
to improve the business performance of our Advanced Polymers Solutions segment and its ability to secure new customers; potential governmental regulatory actions; political unrest and terrorist acts; and risks and uncertainties posed by international operations, including foreign currency fluctuations. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2025, which
can be found at https://www.LyondellBasell.com on the Investors page and on the Securities and Exchange Commission's website at https://www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking
statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
02
Contents
Introduction 01
About this report 01
A message from our CEO 03
Our performance 05
About LyondellBasell 06
Our sustainability approach 12
A message from our CSO 13
Our refreshed approach 16
Making progress towards
our goals 18
Bringing circular and low-carbon solutions to market
Pioneering transformative solutions 19
Bringing circular and low-carbon solutions to market:
Insights from Torkel Rhenman,
EVP, APS 20
Circular solutions 22
Context 24
Our approach 25
Performance 31
Low-carbon solutions 33
Context 35
Performance 42
Climate-related
risk management 45
Innovation 47
Innovation spotlights 50
Unlocking change 51
Business-led
sustainability summit 52
People 53
Workforce management 55
Championing people 61
Partnerships 65
Sustainable procurement 69
Social impact 73
Investment 76
Creating the future of plastic recycling at MoReTec-1 78
52
The business-led sustainability summit
Safety professional of the year
Building on
strong foundations 79
Celebrating Buster Keasler -
safety professional of the year 80
Operational excellence 81
Health and safety 83
Product safety
and stewardship 87
Environmental management 90
Emissions to air, water
and land 91
Water use and availability 94
Waste 96
Preventing plastic pellet loss 97
Biodiversity and
ecosystem services 98
Good Governance 99
Corporate governance 100
Ethics and integrity 104
Human rights 107
Stakeholder engagement 109
Materiality 111
Public policy 112
Tax 114
Cybersecurity 115
Data privacy 116
Additional disclosures 117
Data and assurance 118
Reconciliation for
non-GAAP measures 128
Additional data 130
Glossary 136
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
03
A message from our CEO
We have established ourselves as a leader in
Sustainability remains an important part of our long-term approach to creating value. It continues to guide how we strengthen our competitiveness, support our customers, and prepare the company for opportunities ahead, even as we navigate a more challenging external environment.
providing circular and low-carbon solutions.
Peter Vanacker
Chief Executive Officer
For LYB, 2025 was a year of meaningful progress, marked by disciplined execution in a challenging environment. Overall, we focused on advancing our company strategy while maintaining
a strong emphasis on safety, reliability and capital discipline.
We continued to scale our MoReTec technology and expand collaborations that broaden access to recycled and lower-carbon-footprint materials. We delivered continuous improvement in safety, environmental responsibility and reliability through our Operational Excellence program. And we aligned investments with market realities, preserving future options while protecting financial sustainability.
Key highlights include a record year for safety and reliability, reductions in
greenhouse gas emissions, and continued progress in the construction of our catalytic chemical recycling plant in Germany.
Together, these milestones illustrate
how our strategy is delivering meaningful results while positioning LYB for the future.
Our approach balances near-term discipline with long-term value creation. We are thoughtfully pacing select sustainability initiatives to maintain their potential to create value long term. By taking actions today, we ensure we have the resources, resilience and optionality to pursue opportunities as market conditions improve.
Our three-pillared strategy remains unchanged: growing and upgrading the core, building a profitable circular and low-carbon solutions business, and stepping up performance and culture. What has changed is how we execute.
We will continue to emphasize sequencing, pacing and capital discipline to enable value creation across cycles.
Within this context, we made the decision to adjust two of our sustainability goals. These adjustments do not alter our direction. They keep our goals ambitious yet realistic, grounded in what we know today and focused on delivering value at a pace that is aligned with market conditions and the regulatory environment.
With the updates to our goals, we are also providing more transparency about what influences our ability to achieve them.
Transitioning to a circular and low-carbon economy requires progress across multiple enablers in parallel, many of which are outside of our control. These enablers include policy, customer demand, infrastructure availability and technology development. Enablers are not static; they evolve, and those shifts affect our path.
By articulating these dependencies, we aim to set clearer expectations, build trust and invite collaboration where shared action can accelerate progress.
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Sustainability Report 2025
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
A message from our CEO continued
Building on strong foundations
Additional disclosures
04
These enablers are as follows:
Policy, regulation and standards Laws, public policy, and industry standards are essential to provide
the certainty needed for investment,
stimulate demand for circular and low-carbon products, and establish clear, consistent and harmonized standards and frameworks that enable new markets to develop.
Customer demand
Durable demand signals and willingness to adopt circular and lower-carbon materials are needed to justify large-scale infrastructure and technology deployment across the value chain.
Infrastructure and technology
Waste collection, sorting and logistics infrastructure must expand and modernize to support new circular feedstock pathways. At the same time, low-carbon infrastructure including renewable and low-carbon power
with adequate grid capacity, and
lower-carbon transport infrastructure, is essential to enable the energy transition.
New and emerging technologies must reach operational efficiency at commercial scale.
This year, we are introducing a refreshed framework that describes our sustainability approach, demonstrating how our actions create, protect and deliver value:
Building on strong foundations of safety, operational excellence and good governance to reduce
risk and ensure reliability across our assets and value chains;
Unlocking change through our people, partnerships and investment, by building trust
with employees, customers, suppliers and communities, scaling capability, and embedding a value-driven mindset across the company; and
Pioneering transformative solutions that reimagine plastic waste and offer a lower product
carbon footprint, enabling us to seize market opportunities and drive growth.
These three interconnected elements organize how we present our progress in this report.
Looking ahead, we remain focused on our strategy while being pragmatic about sequencing, transparent
about dependencies and focused on outcomes. Our updated goals reflect a clear, actionable roadmap for the years ahead. I am grateful to our employees, customers, partners and communities for their continued engagement
and support.
Peter Vanacker
Chief Executive Officer
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
05
Our performance at a glance
Sustainability
LYB 2025 sustainability highlights
0.120
total recordable incident rate (TRIR), representing
industry-leading performance, marking our best year ever
for TRIR
CDP Climate A
LYB achieved an A score from CDP for Climate Change
56
manufacturing sites achieved GoalZERO1
70
manufacturing sites were injury-free
~29%
reduction of annual scope 3 emissions2 by safely discontinuing refining operations at our Houston refinery
206kt
of recycled and renewable-based polymers produced and marketed3
1,748MW
of renewable energy
capacity secured under power purchase agreements, which will enable us to meet our goal to procure at least 50% of our electricity from renewable sources by 20304
67%
increase in volumes of our recycled and renewable-based polymers since 2023
We classify incidents on a scale from 0 to 5, with Level 5 having the highest impact. Our GoalZERO program relates to Level 2+ incidents, which generally means, at minimum, an impact resulted in reporting or record-keeping under an applicable regulatory program.
Financials
LYB 2025 consolidated financial metrics
$(0.7)B
Net loss
$1.1B
EBITDA
$(2.34)
Diluted loss per share
$0.6B
Net income excluding identified items5
$2.5B
EBITDA excluding identified items5
$1.70
Diluted EPS excluding identified items5
29.8% reduction compared to 2020 baseline which includes categories 1, 11, 12 and 15.
Production and marketing includes: (i) joint venture production marketed by LYB plus our pro rata share of the remaining production produced
and marketed by the joint venture, and (ii) production via third-party tolling arrangements.
Based on 2020 procured levels.
Identified items include adjustments for lower of cost or market ("LCM"), gain or loss on sale of business, asset write-downs in excess of
$10 million in aggregate for the period, Cash Improvement Plan costs, site closure costs,
European transaction costs and discontinued operations.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
06
Our purpose
Creating solutions for everyday sustainable living
Our strategy
Grow and upgrade the core
Build a profitable Circular and Low Carbon Solutions business Step up performance and culture
Our competencies
Our values
Our commitments
Sustainability-focused innovation
Ever-better performance Outside-in perspective Impactful collaboration
Build partnerships
We champion people
Deliver results
We strive for excellence
Drive innovation
We shape the future
Grow capabilities
Promote inclusion
Our GoalZERO mindset enables our strategy
GoalZERO is our commitment to operating safely with zero injuries and zero process safety, product safety, environmental, and security incidents.
About LyondellBasell
Who we are
LyondellBasell (LYB) is a leader in the global chemical industry,
guided by our purpose of creating solutions for everyday sustainable living. We're one of the world's largest producers of polymers and a leader in polyolefin technologies.
LYB - LyondellBasell
Sustainability Report 2025
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
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Technology
Our Technology segment develops and licenses chemical and polyolefin process technologies and manufactures and sells polyolefin catalysts.
Selected products:
Licensing
Catalysts
Major markets:
Polyolefin and
chemical manufacturing
Advanced Polymer Solutions (APS)
Our APS segment produces and markets compounding and solutions, such as PP compounds, engineered plastics, masterbatches, engineered composites, and colors.
Selected products:
Compounding and solutions
Major markets:
Packaging
Automotive
Films
Intermediates and Derivatives (I&D)
Our I&D segment produces and markets propylene oxide (PO) and its derivatives; oxyfuels and related products; and intermediate chemicals, such as styrene monomer, and acetyls.
Selected products:
PO and derivatives
Intermediate chemicals
Oxyfuels and related products
Major markets:
Insulation
Home furnishings
Coatings
Adhesives
Automotive
Fuel additives
O&P - Europe, Asia, International (EAI)2
Our O&P-EAI segment produces and markets olefins and co-products, PE, and PP.
Selected products:
Olefins and co-products
PE
PP
Catalloy and polybutene-1
Major markets:
Packaging
Automotive
Films
Pipes
Textiles
Roofing
Appliances
Olefins and Polyolefins (O&P) - Americas2
Our O&P-Americas segment produces and markets olefins and co-products, polyethylene (PE), and polypropylene (PP).
Selected products:
Olefins and co-products
PE
PP
Catalloy and polybutene-1
Major markets:
Packaging
Automotive
Films
Pipes
Textiles
Roofing
Appliances
About LyondellBasell
What we do
LYB products serve diverse markets. From fresh food packaging, clean fuels and durable textiles to medical applications, construction materials and automotive parts, LYB materials help improve the lives of people around the world.
Our products serve as the foundation for various chemicals and plastics, used in both high-volume and specialized
applications. Additionally, we develop and license chemical and polyolefin process technologies and produce polyolefin catalysts. We manage our operations through five operating segments.1 In 2022, we formed our Circular and Low Carbon Solutions business within our O&P-Americas and O&P-EAI segments. This page and
the next provide an overview of our reportable segments.
In February 2025, we ceased business operations at our Houston refinery. Accordingly, our refining business, previously disclosed as the Refining segment, is reported as a discontinued operation.
Our CLCS business is part of our O&P-Americas and O&P-EAI segments.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
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About LyondellBasell
Where we are located
Our global footprint allows us to support customers where they operate. With manufacturing capabilities and commercial reach spanning regions around the world, we combine global strength with local insight
to help customers compete and grow.
North America Leveraging scale and access to low-cost feedstocks
South America
Providing tailored local solutions for global brand owners
Europe
Focusing on high demand for sustainability by building cost-advantaged waste feedstock networks across the Circular and Low Carbon Solutions business
Middle East
Becoming partner of choice for low-cost feedstock owners to add value with our
technologies and market access
Asia Pacific
Using LYB technologies
within joint ventures to capture market growth with minimal capital investment
100+
20
18,970
#1
#2
#2
#1
Countries where our
Countries with
Employees
Largest producer of
Largest producer
Largest producer
Largest producer of
products are sold
manufacturing sites and joint ventures
oxyfuels worldwide
of PP worldwide
of PO worldwide
PE and PP in Europe
Above statistics are as of December 31, 2025.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
09
About LyondellBasell
Our value chain
Wellhead
Petrochemical building blocks, i.e. olefins production
Technology Compounding and
masterbatch
Own operations
Downstream
Refining and midstream
Upstream
Biocircular and renewable-based feedstocks
O&P
Purification
Chemical recycling
Chemical derivatives
Mechanical recycling and compounding
Secondary derivatives
Polymerization
Customers Consumers
Intermediates & Derivatives Advanced Polymer Solutions Technology
CLCS
Advanced sorting
Plastic waste sorting
End of life
Waste collection
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
10
About LyondellBasell
Our operating context
As a leader in the global chemical industry, we are leveraging our low-cost portfolio and market strengths to navigate the current market downturn, while working to reduce our environmental impact and building capabilities to generate value from circular and low-carbon solutions.
Leading, cost-advantaged positions in key markets
We are one of the leading worldwide producers of olefins and polymers, materials used every day in a wide range of applications including packaging, piping, automobile parts, renewable energy technologies, and textiles. Our production assets in North America and the Middle East, including those operated through our joint ventures, benefit from a cost-advantaged position. This is driven primarily by the relatively low cost of feedstocks in these regions. Our portfolio in Europe is being reshaped to refocus on strategic assets that are well positioned
to serve local markets including through recycled products. Overall, our business is influenced not only by supply and demand, but also by raw material costs and price competition among producers.
Competitive pressures may intensify due to factors such as the addition of new industry capacity. Based on published capacity data and including our proportionate share of our joint ventures, we believe that as of December 31, 2025, we were the fourth largest producer of ethylene and sixth largest producer of PP and PE worldwide.
We are also a leading producer and marketer of propylene oxide (PO) and its derivatives, oxyfuels and related products, as well as intermediate chemicals.
PO and derivatives are used in a variety of durable and consumable items with key applications, including polyurethanes used for insulation, automotive and furniture cushioning, coatings, surfactants, synthetic resins and other household products.
We produce PO through two distinct technologies. One technology generates tertiary butyl alcohol (TBA, a precursor for oxyfuels) as the co-product and the other produces styrene monomer as the co-product. The revenue from these co-products provides a significant benefit to
our overall cost position. Oxyfuels are used as high-octane gasoline components that help gasoline burn cleaner and reduce automobile emissions. The profitability
of oxyfuels is affected by global demand levels and price competition. Based on published capacity data and including our proportionate share of our joint ventures, we believe as of December 31, 2025, we were the second largest producer of PO worldwide and the largest producer of oxyfuels worldwide.
Maintaining focus amid challenging market conditions
Against a backdrop of depressed industry margins across all of our core businesses, 2025 proved to be another challenging year. The past year demanded resilience, clarity of purpose, and discipline from companies across the chemical industry. Our employees and leadership team worked together to navigate a prolonged global market downturn while continuing to advance strategic priorities essential
to long-term value creation.
Strengthening capabilities in circular and low-carbon products to capture value
Our production assets benefit from a cost-advantaged position.
As lightweight, hygienic, and durable materials, plastics meet essential societal needs and play a critical role in everyday life. At the same time, plastic does not belong in the environment. We, along with many other stakeholders, recognize the pressing need to eliminate plastic waste leakage, avoid mismanaged plastic waste, and capture the value of these materials through recovery and higher-value recycling solutions.
Moving to a more circular system, where materials remain in use through recycling, reuse, and innovative design, offers one of the most effective solutions to this challenge. Demand for circular plastic products is growing as consumers
and society place greater emphasis on reducing waste and increasing the use of recycled materials.
Introduction Our sustainability approachPioneering transformative solutions Unlocking change
Our operating context continued
Building on strong foundations
Additional disclosures
11
Regulatory frameworks across Europe, such as the EU's Packaging and Packaging Waste Regulation (PPWR), are expected
to create increased demand for circular plastic products. Voluntary commitments from global brand owners are generating sustained interest in circular materials.
As a result, the market for these materials is expanding faster than current supply, creating a strong and sustained pull
for materials sourced from recycled content with a lower-carbon footprint. These developments create a strategic opportunity for LYB. Delivering reliable, high-quality circular materials strengthens our position in markets where sustainability expectations continue to grow and enables long-term competitiveness as customers increasingly seek low-carbon and
circular products.
As a result, we expect to generate attractive margins for our recycled and renewable-based products, creating value for our shareholders while providing sustainability benefits. We are already providing products leveraging multiple recycling technologies and bio-circular feedstocks through our Circulen and +LC brands and using our market access and industry knowledge to scale these operations globally. Our goal
is to produce and market 800,000 metric tons of recycled and renewable-based polymers annually by 2030.
Navigating the cycle with our strategic priorities intact
Notable changes to our business in 2025
In February 2025, we ceased operations at our Houston refinery. In March 2025, we jointly announced with Covestro the permanent closure of the propylene oxide styrene monomer (POSM) unit
at our Maasvlakte joint venture site in the Netherlands. Following the strategic assessment of certain European assets announced in 2024, in 2025 we entered into an agreement for the sale of select European olefins and polyolefins assets and the associated business, located in Berre l'Etang (France), Münchsmünster (Germany), Carrington (United Kingdom), and Tarragona (Spain). The sale is expected to close in the second quarter of 2026.
As we navigate one of the longest downturns in our industry, LYB continues to execute on our three-pillar corporate strategy - growing and upgrading the core, building a profitable Circular and Low Carbon Solutions business, and stepping up performance and culture - even though this has required adjusting the pace or
timing of some of our plans. MoReTec-1, our first commercial-scale catalytic chemical recycling plant using our proprietary MoReTec technology located in Wesseling, Germany, is progressing well and is on track for a 2027 startup. We are advocating for supportive policy frameworks to enable the successful and profitable transformation of our industry, while executing on low-cost
or no-cost energy efficiency initiatives across our sites. However, we delayed the final investment decision for MoReTec-2, a proposed second commercial-scale MoReTec plant in Houston, reflecting capital discipline, and the expected pace of demand growth. Our efforts helped preserve financial flexibility while allowing
the company to continue investing in assets and technologies that support its long-term strategic direction. We believe that these actions protect the company's ability to generate positive long-term impact.
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
12
A message from our Chief Sustainability Officer 13 Our refreshed approach 16
Making progress towards our goals 18
LYB - LyondellBasell
Sustainability Report 2025
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
13
A message from our CSO
We refreshed our approach to
sharpen alignment with our long-term strategy and better communicate
how sustainability drives commercial
Five years ago, we established a sustainability framework focused on three global challenges: ending plastic waste, taking climate action, and supporting a thriving society.
value.
Andrea Brown
Chief Sustainability Officer
That foundation has guided our focus, enabling meaningful progress, from advancing circular technologies and scaling GHG emissions reduction initiatives, to broadening our
social impact.
Through this work, we've learned a great deal about what it will take to achieve our goals. The world has also changed in significant ways. Evolving regulation, shifting consumer expectations, and the pace of investment and infrastructure developments have reshaped where progress can be accelerated and
where it will require more time.
With this in mind, we have refreshed our approach to sharpen alignment with our long-term strategy and to better communicate how sustainability drives commercial outcomes.
Our intent is to demonstrate how sustainability creates both societal and financial value. Ensuring responsible operations reduces regulatory, operational, and reputational risks across our business, and protects people and the environment.
Beyond risk mitigation, sustainability also drives commercial opportunities
in new and existing markets, accelerates competitiveness, and delivers positive outcomes for people and communities.
By integrating sustainability into how we plan, invest, and innovate, we are building a clearer line of sight between our sustainability ambitions and business performance.
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
A message from our CSO continued 14
We have organized our refreshed approach around three interconnected elements that work together to support resilient operations, enable change across our business and value chain, and position the company for future growth.
We are building on strong foundations
Operational excellence and good governance underpin everything we do, providing the stability, consistency and accountability required to operate safely, responsibly and reliably, while reducing risk and protecting value.
These foundations ensure we can execute our strategy with confidence and integrity in an increasingly complex operating environment.
We are unlocking change across our company
and the industry
Progress depends on more than strong systems; it is driven by how we work with others, develop our people and deploy capital. Through three drivers -partnerships, people, and investment - we unlock change by strengthening collaboration across our value chain,
empowering employees to contribute ideas and innovation, and directing investment toward value-creating opportunities that build trust and long-term value.
We are pioneering transformative solutions
Building on our foundations and enabled by these drivers of change, we are advancing circular and low-carbon solutions that respond to evolving customer needs, regulatory expectations and market demand. Through our technical and commercial expertise, innovation capabilities and integrated ecosystem that connects recycling capabilities
with our existing production assets, we are helping customers transition
toward more sustainable solutions while positioning our business for growth.
Together, these three interconnected elements demonstrate how sustainability is integrated into our strategy to address environmental and societal challenges while strengthening competitiveness, building trust, and creating financial
and societal value for our stakeholders.
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
A message from our CSO continued
Building on strong foundations
Additional disclosures
15
What it will take to achieve our ambitions
Complex, global challenges like climate change and plastic waste require concerted efforts across industries and value chains, supportive governmental policies, and other enabling factors.
To achieve our climate and circularity goals, we have identified a set of enablers that can unlock progress - from favorable and consistent regulations, to growing customer demand, widely
Advanced our CVCC initiative to align our climate ambition with commercial opportunity, generating momentum for differentiated lower-carbon product offerings.
Advancing our Carbon Value Creation and Capture initiative
Achieved third party certification of our life cycle assessment and product carbon footprint methodologies, supporting customer needs.
Creating customer value through transparency
accepted standards, ongoing technology advancements, and necessary infrastructure developments. As these enablers advance, they create the conditions that support progress on these global challenges.
In this year's report, we have increased transparency by outlining the enablers that will shape the pace at which we can scale circular and low-carbon solutions and reduce our GHG emissions. For each enabler, we have identified specific signposts that help us assess changes in our operating environment and provide early insight into shifts
that may affect our cost structure, feasibility, or timelines. By monitoring these signposts regularly, we ensure our strategy remains adaptive, resilient, and aligned with market realities.
Looking ahead
Moving forward, by building on our strong foundations, unlocking
Continued construction of MoReTec-1, LYB's first commercial-scale catalytic chemical recycling facility in Wesseling, Germany, targeted to start up in 2027, while maintaining disciplined pacing of investments
in line with market conditions.
Building future capacity with capital discipline
change through people, partnerships and investments, and pioneering transformative solutions, we will drive innovation, growth, and long-term value for our stakeholders.
Andrea Brown
Chief Sustainability Officer
Highlights from 2025
Across the company, teams delivered meaningful progress by maintaining focus, demonstrating momentum through disciplined execution that builds confidence and delivers value.
Achieved a total recordable incident rate of 0.120, the lowest in company history, reflecting continued
focus on safety and reliability across our operations including on-time and on-budget execution of major turnarounds at some
of our largest sites.
Championing health, safety and well-being
Produced and marketed approximately 206,000 metric tons of recycled and renewable-based polymers through mechanical recycling, chemical recycling and bio-circular feedstocks, supporting
growing customer demand for circular and lower carbon materials.
Producing circular and low-carbon solutions at scale
Reduced scope 1 and 2 GHG emissions by approximately
3.2 million metric tons and scope 3 emissions by approximately 43 million
metric tons compared to 2024, largely due to ceasing crude
oil refining at the Houston refinery.
Lowering emissions through disciplined portfolio and operational actions
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
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Our sustainability approach
Our refreshed approach
Our intent is to demonstrate how sustainability creates both societal and financial value.
Andrea Brown
Chief Sustainability Officer
Why have we refreshed our sustainability approach?
Building trust
Seizing
Partnerships
Circular solutions
market
op es
portuniti
Cultivating a value-driven mindset
People
Low-carbon solutions
Unlocking change
Investment
Our purpose
Creating solutions for everyday sustainable living
Pioneering transformative
solutions
Innovation
Building on strong foundations
Operational Good Excellence governance
Reducing risk
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Our sustainability approach has driven meaningful progress over the past five years.
As our business and external environment continue to evolve, we have refreshed our approach to sharpen alignment with LYB strategy and to more clearly demonstrate how sustainability supports performance, competitiveness and long-term value creation.
Our refreshed approach positions sustainability as a business-led discipline designed to generate both financial and societal value. We explain how we achieve this through three interconnected elements: building
on strong foundations of operational excellence and good governance, unlocking change through our people, partnerships and investment, and pioneering transformative solutions. Together, these elements guide how sustainability strengthens performance today while positioning LYB for long-term growth and positive impact.
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Our refreshed approach continued
Building on strong foundations
Additional disclosures
17
Our approach is built
on three interconnected elements that drive value
Together, these elements show how we manage risk, unlock change across our business and value chain and create opportunities for longterm growth through pioneering transformative solutions.
Building on strong foundations
Operational excellence and good governance underpin everything we do.
They help reduce risk and ensure our operations are safe, responsible and resilient.
Operational excellence
Our Operational Excellence program focuses on continuous improvement in safety, environmental performance and reliability across our operations.
GoalZERO reflects our commitment to operating safely every day with
zero incidents, injuries, and accidents.
GoalZERO also includes a commitment to zero plastic pellet loss from
our facilities.
Good governance
Strong governance frameworks and high ethical standards guide decision-making and support consistent, responsible execution of our strategy.
Unlocking change
We unlock change through three drivers: partnerships, people and investment.
Together, these drivers help build trust and embed a value-generating mindset across the business.
Partnerships
Collaboration across our value chain and with key stakeholders brings together diverse expertise to address shared challenges.
Assess a minimum of 80% of our key suppliers globally using sustainability criteria by 2027.1
People
Our people drive change by fostering inclusion, encouraging innovation and contributing ideas through programs such as our Value Enhancement Program.
Achieve at least 33% gender diversity in senior leader roles globally by 2032.2
Investment
Targeted investment enables progress and transformation, including projects such as MoReTec-1, which support the advancement of circular solutions.
Pioneering transformative solutions
We are advancing circular and low-carbon solutions to capture market opportunities and support long-term growth.
Our technical and commercial expertise, high-performing innovations, and an integrated ecosystem linking recycling capabilities with our existing production capabilities, help customers respond
to regulatory change and rising demand for more sustainable products.
Circular solutions
We are developing a comprehensive portfolio of recycled and bio-circular products to reduce product carbon footprints and support circularity across key markets including packaging, mobility, and consumer goods.
Produce and market 800,000 metric tons of recycled and renewable-based polymers annually by 2030.3
Low-carbon solutions
We are reducing emissions across our operations and value chain to bring lower-carbon
footprint products to market while maintaining competitiveness.
Net-zero GHG emissions from operations by 2050.4
32% absolute reduction in scope 1 and 2 emissions and 30% absolute reduction in scope 3 emissions by 2030.5
50% minimum of electricity procured from renewable sources by 2030.6
Innovation
We are developing and scaling breakthrough technologies, including MoReTec and Newcycling, to deliver the next generation of more sustainable materials.
Generating financial and societal value
As well as contributing to environmental and societal challenges, our approach demonstrates how sustainability
can protect and create value for our company, our employees, customers, suppliers and the communities where we operate.
Reducing risk through safe operations and strong governance.
Cultivating a value-driven mindset
by empowering employees.
Building trust through engagement across the value chain.
Seizing market opportunities by meeting demand for recycled and renewable-based plastics.
Our material topics
Grounding this approach is a clear understanding of what matters most to our business and stakeholders.
In 2024, we completed an EU Corporate Sustainability Reporting Directive (CSRD)-aligned Double Materiality Assessment, co-developed by our Sustainability, Finance, Legal and Enterprise Risk Management teams and informed by subject-matter expert engagement. This process identified climate change, circularity, pollution, our own workforce, consumers and end-users, and business conduct as our material topics. These priorities guide how we execute our approach.
Key suppliers are determined using a rolling baseline, defined as group suppliers with more than $1 million in spend in the preceding year.
As a Dutch company, we are required to set ambitious goals for gender representation (both male and female) in senior management positions. In accordance with Dutch law, our aspirational goal is to have at least 33% of male senior leaders and at least 33% female senior leaders, globally, by 2032.
Production and marketing includes: (i) joint venture production marketed by LYB plus our pro rata share of the remaining production produced and marketed by the joint venture, and (ii) production via third-party tolling arrangements.
Our net zero goal includes scope 1 and 2 emissions.
Relative to a 2020 baseline. Our scope 1 and 2 target is based on total scope 1 and 2 GHG emissions (market-based).
Based on 2020 procured levels.
Introduction Our sustainability approach Pioneering transformative solutions Unlocking change
Building on strong foundations
Additional disclosures
18
Our sustainability approach
Making progress toward our goals
In 2025, we continued to make good progress toward our ambitious goals.
Our recycled and renewable-based polymer volumes were 206kt in 2025, delivering 1% growth versus 2024 despite very challenging market conditions.
While we still have some way to go to meet our 2030 goal, we anticipate
change will not be linear, particularly, as MoReTec-1 begins operations in 2027.
GHG emissions reductions from 2024 to 2025 were mainly due to the
discontinuation of refining operations at our Houston refinery and the shutdown of our joint venture in Maasvlakte, the Netherlands. We achieved more than
a 29% reduction in scope 3 emissions compared with our baseline year, coming very close to achieving our 30% reduction goal. We adjusted our scope 3 target boundary to align with evolving target setting guidance, resulting in expanded coverage.1 Our adjusted target boundary encompasses significant scope 3 emissions, namely, categories 1, 11, 12,
and 15, representing 94% of global scope 3 emissions. This expanded boundary raised the bar to achieve our 30% goal, but we are still on track to reach the goal by 2030.
After achieving our previous supplier sustainability assessment goal in 2024, we maintained positive momentum in 2025 as we continued progressing toward our 2027 target goal of assessing 80% of key suppliers against sustainability criteria.
Previously, the target boundary for our scope 3 goal included scope 3 category 2, 3, 4, 11, and 15 emissions, in line with SBTi guidance specifying that scope 3 targets should include two-thirds of estimated global scope 3 emissions.
2023
2024
2025
Circular solutions
800kt
of recycled and renewable-based polymers produced and marketed annually by 20302
123kt
203kt
206kt
Low-carbon solutions
Net Zero
greenhouse gas emissions from operations by 20503
absolute scope 1 and 2 greenhouse gas emissions reduction
32%
from operations by 20304
22.4 MMt
22.1 MMt
18.9 MMt
2020 baseline emissions (scopes 1 and 2): 23.2 MMt
30%
absolute scope 3 greenhouse gas emissions reduction by 20305
113.8 MMt
113.6 MMt
70.7 MMt
2020 baseline emissions (scope 3): 100.8 MMt
minimum of electricity procured from renewable sources by 2030:6
0.4 MMWh
0.4 MMWh
0.6 MMWh
50%
2020 procured electricity: 8.3 million MWh
Power purchase agreements (PPA) in place:
90%
100%
100%
Unlocking change
Achieve at least 33%
80%
gender diversity in global senior leader roles by 20327
assess a minimum of 80% of our key suppliers globally using sustainability criteria by 20278
25%
39%
25%
71%
25%
74%
Building on strong foundations
Zero
plastic pellet loss to the environment from our facilities9
10kg
0kg
10kg
Zero
incidents, injuries, and accidents10
48
44
39
Thousand metric tons. Production and marketing includes: (i) joint venture production marketed by LYB plus our pro rata share of the remaining production produced and marketed by the joint venture, and (ii) production via third-party tolling arrangements.
Our 2050 net zero goal includes scope 1 and 2 emissions.
Relative to a 2020 baseline. The target is based on total scope 1 and 2 GHG emissions (market-based).
Relative to a 2020 baseline. Baseline and prior year scope 3 emissions revised due to a change in methodology, and to reflect the change to our target boundary to encompass significant categories (1, 11, 12, and 15) in line with evolving target setting guidance.
Based on 2020 procured levels. PPAs in place defined as renewable energy generation capacity secured under PPA as a percent of the total renewable energy required to meet our 50% procurement goal.
As a Dutch company, we are required to set ambitious goals for gender representation (both male and female) in senior management positions. In accordance with Dutch law, our aspirational goal is to have at least 33% male senior leaders and at least 33% female senior leaders, globally, by 2032.
Progress represents the percentage of all key suppliers assessed. Key suppliers are determined using a rolling baseline, defined as group suppliers with more than
$1 million in spend in the preceding year. The key supplier concept was applied in 2024. Prior to 2024, a legal entity spend threshold of $150,000 was applied.
For the purposes of our reporting, a loss is defined as an unplanned loss of polymeric solids from a site boundary in a quantity greater than 0.5 kilograms in a single incident. 10.Progress represents the number of recordable work-related accidents for both employees and contractors.
Disclaimer
LyondellBasell Industries NV published this content on April 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 14, 2026 at 12:17 UTC.