LyondellBasell

LyondellBasell Industries Holdings
Quick Facts
Type	Public limited company
sector	Chemical industries
Headquarters (Benelux Organization)	Rotterdam, Netherlands; Houston TX, United States; London, United Kingdom
Year of Origin	2007
Emissions (All Scopes)	XXX Megatons of CO2 (2020)
Net Income	USD$1.4 billion (2020)
Key People	Kenneth (Ken) Lane (CEO), Jacques Aigrain (chairman)
Subsidiaries	dochterbedrijf 1 dochterbedrijf 2

LyondellBasell Industries Holdings, stylized as LyondellBasell, was founded in 2007 by merger of Basell Polyolefins and Lyondell Chemical Company. Roots of the company trace back to 1985. LyondellBasell is Dutch company with British and American roots. The company is manufactures at 55 sites in 17 countries sells products into approximately 100 countries. The main office of LyondellBasell Europe, Asia and International is based in the center of Rotterdam but the company has other headquarters in Housten, London, and Hong Kong. The company employs 19,200 people (2021). Revenue of LyondellBasell was 27,753 dollars in 2020.

LyondellBasell is one of the largest plastics, chemicals, and refining companies in the world. As they are ranked 10th in the global top 50 chemical companies of 2021, they can be considered a key player in their industry.

Company Structure

The company has two main leadership branches, the leadership team and the Board of directors. The leadership team is comprised of senior executives that lead LyondellBasell’s business and staff functions furthermore, the team oversees operational issues and the implementation of corporate strategies and provides support to the CEO. The Board of Directors is led by Chairman Jacques Aigrain and oversees management and the overall course of LyondellBasell’s business and strategy. The members of the board include the Chairman, CEO, and ten independent directors that are elected annually by stakeholders.

Up until December 2021 Bhavesh Patel was the CEO of the company but has now stepped down. Kenneth Lane is the current interim CEO and Peter Vanacken has has been appointed the position of CEO starting June 2022.

Leadership Team

Executive Board

Name	Function	Remuneration ($)
Kenneth (Ken) Lane	Interm Chief Executive Officer	3.316.357
Bhavesh Patel	Chief Executive Officer	15.570.513
James Guilfoyle	Executive VP- Advanced Polymer Solutions	Unkown
Jeffrey Kaplan	Executive VP-Legal & Public Affairs	2.798.701
Micheal McMurray	Executive VP and CFO	3.923.362
Torkel Rhenman	Executive VP-Intermediates and Derivatives and refining	Unkown
Kim Foley	Senior VP- HSE, Global engineering	Unkown
Dale Friedrichs	Senior VP-HR and Global projects	Unkown
Jean Gadbois	Senior VP- Europe and Asia	Unkown
Richard Roudeix	Senior VP-Olefins & polyolefins, Europe, Middle East, Africa and India	Unkown
Jim Seward	Senior VP- Research and Development, Technology, and Sustainability	Unkown
Anup Sharma	Senior VP- Global Business Services	Unkown
Micheal VanDerSnick	Senior VP- Americas manufacturing	Unkown

The Remuneration of the Leadership Team is based on the 2021 Annual General Meeting of Shareholders Proxy statement. The remuneration is based on the year 2020 and includes: 1 Salery, 2. Bonus, 3. Stock Awards, 4. Option Awards, 5. Non-Equity Incentive Plan Compensation, 6. Change in Pension Value, 7. All other compensation (Fees or Intercontinental trips, Tax preparation etc.).

Board of Directors

Executive Board

Name	Function	Remuneration ($)
James Aigrain	Chairman	675.262
Lincoln Benet	Member	315.115
Jagjeet S. Bindra	Member	332.158
Robin w.T. Buchanan	Member	305.108
Anthony R. Chase	Member	Unkown
Stephen F. Cooper	Member	294.924
Nance K. Dicciani	Member	325.313
Robert W. Dudly	Member	Unkown
Claire S. Farley	Member	317.151
Micheal S. Hanley	Member	329.600
Albert J. Manifold	Member	310.111

The Remuneration of the Board members is based on the 2021 Annual General Meeting of Shareholders Proxy statement. The remuneration is based on the year 2020 and includes: 1 Fees earned or paid in cash, 2. Stock Awards, 3. All other compensation (Fees or Intercontinental trips, Tax preparation etc.).

Accountant

The external auditor for the Dutch statutory accounts in 2020 was PricewaterhouseCoopers Accountants N.V. ("PwC"). In accordance with Dutch Law, LyondellBasell's external auditor is appointed by the general meeting of shareholders and is nominated for appointment by the Board upon advice from the Audit Committee. The Audit committee proposed that shareholders appoint PwC as its auditor again in 2021.

Operations

LyondellBasell is active in the chemical sector with products such as polymers, advanced polymers and fuels. It is one of the largest plastics, chemicals, and refining companies in the world. Furthermore, they are the leading producer of oxyfuels worldwide, as well as polypropylene in North America and Europe.

LyondellBasell did not receive NOW-support from the Dutch government , and does not have Royal status.

Paris Agreement to Today

Since the Paris agreement, LyondellBasell has stated that they support the goal of net zero by 2050. The company has selected three global challenges that they find most relevant to their business: Plastic Waste, Climate Change, and Thriving society. Under these challenges they have created five pillars on which they will build their climate strategy. The pillars are: end plastic waste, advance the circular economy, address climate change, grow sustainable solutions, and enhance the workplace operations and communities.

Achievements

In 2019 LyondellBasell achieved the first parallel production of polypropylene and low-density polyethylene made from renewable raw materials. These renewable-based polymers are part of their family of sustainable solutions called Circulen. An independent life cycle assessment study showed that the carbon footprint of these polymers is reduced by up to 75% in comparison with fossil-based polymers.

Current Policies and Emissions

Climate Policy

In 2020 LyondellBasell used the CDP Climate Change framework to report climate risks and impact. At the beginning of 2021 they expanded their approach using the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. TCFD provides a framework to further strengthen governance, create strategy, assess risk and establish metrics that will guide our efforts as we strive to improve our sustainability. Furthermore, LyondellBasell has selected 9 of the UN sustainable development goals that match their company best, such as reducing plastic waste in the environment, and helping mitigate climate change.

In 2019 LyondellBasell announced their initial emission reduction target of 15% per ton of product produced by 2030 relative to 2015. They have now developed a pathway to absolute reduction in scope 1 and scope 2 GHG emissions by 30% relative to 2020 levels.

This approach includes:

• Enhanced energy management and low emission steam;
• Flare minimization;
• Use of lower-emitting fuels;
• Process electrification and furnace upgrades; and
• A minimum of 50 percent of electricity procured from renewable sources.

Emissions

GHG Emissions (million metric tons of CO2e)

Type	2015	2019	2020
Scope 1 emissions	14.4	15.3	15.4
Scope 2 emissions	8.7	8.7	8.7
Total emissions	23.1	24.0	24.1
GHG intensity (metric tons of CO2e per metric ton of product)	0.575	0.575	0.611

Waste

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Climate Plans

Beschrijving van de klimaatplannen van het bedrijf

Conclusion

Beschrijving of de plannen in lijn zijn met 'Parijs'

Bedrijfsspecifieke Passage in 'de brief'

U heeft uw duurzaamheidsbeleid vastgelegd in uw 2020 Sustainability Report en uw Climate Ambition Validation statement.

Wij constateren dat uw ambitie is om in 2030 uw scope 1 en 2 emissies met 30% te verminderen ten opzichte van 2020 en om in 2050 net zero te opereren. U heeft geen ambities vastgesteld om uw scope 3 emissies te verminderen.

Uit uw 2020 Sustainability Report blijkt onvoldoende hoe u uw ambities voor uw scope 1 en 2 emissies voor 2030 haalt. We constateren we u geen plannen hebt om uw doelstelling voor 2050 te halen. Ook is uw rapportage over uw eigen emissies (scope 1, 2 en 3) onvolledig. Dit zijn grote tekortkomingen die uw ambities ongeloofwaardig maken.

Tevens constateren we dat uw ambities niet voldoende zijn om binnen de anderhalve graad te blijven. Met name het ontbreken van concrete ambities voor uw scope 3 emissies is een grove tekortkoming.

Daarmee draagt uw bedrijf bij aan gevaarlijke klimaatverandering en loopt u het materiële risico om mensenrechtenschendingen te veroorzaken.