Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Circular Economy
• Plastic Waste & Management
• Product Sustainability
• Product Safety
• Health & Safety
• Responsible Sourcing
• Innovation Management
• Digital Transformation

Environmental Achievements

• Reached 40% renewable electricity for European operations in 2023 (two years ahead of 2030 target)
• Completed major cracker furnace upgrade in Stenungsund, Sweden, enhancing energy efficiency
• ISCC PLUS certification for all Europe-based polyolefins and polyolefin compounding facilities and recycling operations in Belgium, Austria, and Germany
• Processed around 116,300 metric tons of circular feedstock in Europe in 2023

Social Achievements

• Launched "B-Safe" safety program
• Updated Life Saving Rules harmonized with OMV Group and IOGP standard
• Defined OMV Group DE&I Vision and established DE&I Volunteer Network
• Launched new Transformational Leadership Competencies and online learning path for leaders
• Added four learning paths to the Sustainability Academy

Governance Achievements

• Implemented a new governance structure for Ethics & Compliance
• Obtained annual recertification to ISO 37301 (Compliance Management) and ISO 37001 (Corruption & Anti-Bribery)
• Conducted human rights risk assessments in Belgium and Netherlands
• Successfully passed all mandatory audits and pursued voluntary audits

Climate Goals & Targets

Environmental Challenges

• Petrochemical overcapacity and flagging demand
• Market volatility, logistics and supply chain disruptions, lagging demand and geopolitical strife
• High energy costs and inflation
• Difficulty attracting, retaining, and replacing qualified personnel
• Limited availability of renewable feedstock
• Uncertainties regarding new legislation
• Risk of not achieving emission reduction targets
• Increased costs for CO2 certificates
• Reputational risk and product bans
• Difficulty in ensuring compliance with evermore stringent regulation
• Risk of not achieving circularity targets
• Potential for process safety incidents
• Potential for transportation safety risks
• Potential for non-compliance with human rights principles
• Potential for reputational damage and costs related to data protection
• Potential for non-compliance with environmental, emissions and water laws and regulations
• Potential for corruption-related convictions
• Potential for environmental pollution and socioeconomic impact from plastic waste
• Potential for water access issues
• Potential for conflicts between water users
• Potential for environmental pollution from operational waste
• Potential for increasing regulatory requirements related to air quality
• Potential for spills (pellet loss) and regulatory restrictions
• Potential for climate change impacts on operating sites and societal expectations
• Potential for pressure on use of fossil-based feedstock

Mitigation Strategies

• Strong Foundation – Performance Excellence (SFPE) program
• Additional fixed-cost program targeting EUR 100 million savings by 2025
• Expanded safety training program
• B-Safe program
• New 2030 HSSE strategy
• Targeted actions at Kallo construction site
• Acquisitions to consolidate circular economy leadership
• ISCC PLUS accreditation for European sites
• Power purchase agreements (PPAs) for renewable electricity
• Cracker furnace upgrade in Stenungsund
• Strategic workforce planning
• Flexible and home working arrangements
• Wellbeing initiatives
• Training and development programs
• Employer branding
• Supplier audits and evaluations
• Sustainability performance included in contract-awarding criteria
• Compliance-management system, ISO 37001 certification, awareness-raising campaigns, and training
• Integrated approach to circularity
• Investment in mechanical recycling capacities
• Project STOP program in Indonesia
• Climate Strategy 2030
• Carbon capture and use/storage initiatives
• Energy roadmap with energy efficiency improvements and renewable energy supplies
• Initiatives to electrify steam cracker furnaces
• Digital solutions for data collection and measurement
• Risk management tools, controls, awareness campaigns, and health and safety training
• Regular engagement walks
• Incident management software, Synergi
• Employee health initiatives
• Wellbeing concept
• Workplace health surveys
• B-Safe program
• Harmonized Life Saving Rules
• Contractor HSE audits
• Procedure for working safely on roofs
• Group-wide Safety Days
• Awareness campaigns ("Walk with care", "Stop the drop")

Supply Chain Management

Responsible Procurement

• Borealis Supplier Relationship Management Program
• Supplier assessments/audits (Together for Sustainability and EcoVadis)
• Sustainability performance included as part of Borealis’ contract-awarding criteria

Climate-Related Risks & Opportunities

Physical Risks

• Flooding
• Droughts
• Sea level rise

Transition Risks

• Pressure on use of fossil-based feedstock
• Risk of not achieving reduction targets
• Increased costs for CO2 certificates
• Reputational risk and product bans

Opportunities

• Securing market position through carbon-neutral production and sustainable products
• Market advantages due to reduced costs for CO2 certificates
• Cost and emission reductions through energy efficiency improvements and renewable energy
• Positive impact of products due to light weight and support for energy transition

Reporting Standards

Frameworks Used: GRI Universal Standards 2021, UNGC

Certifications: ISO 9001, ISO 14001, ISO 45001, ISO 50001, ISCC PLUS, ISO 37301, ISO 37001

Third-party Assurance: KPMG Austria GmbH

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 9 (Industry, Innovation and Infrastructure)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)

Sustainable Products & Innovation

• Stelora™
• Bornewables™ line of Queo™
• Borcycle™ C
• Borcycle™ M
• Bornewables™
• Borvida™

Awards & Recognition

• #1 plastics producer in BloombergNEF’s 2022 Circular Economy ranking