Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has been included as a member of the Dow Jones Sustainability World Index (DJSI World) for the fourth consecutive year, with a 96 percentile, and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the sixth successive year, with a 99 percentile. The achievement aligns with IVL’s purpose of “reimagining chemistry together to create a better world.”
Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, “We are honored to have been included as a member of the DJSI World and the DJSI Emerging Markets for many consecutive years. This is a significant testament to our impactful sustainability journey, which necessitates contributions from every sector along the value chain. Sustainability cannot happen without collaboration, and we would like to thank our employees, customers, and partners for continuously supporting our sustainability journey.”
In 2022, S&P Global invited over 11,000 companies to participate in the Corporate Sustainability Assessment (CSA). Companies with outstanding results were then considered eligible for any DJSI. This year, there were 86 chemical companies that led the field in terms of sustainability and were eligible for the DJSI World, which tracks the performance of the top 10% of the 2,500 largest companies, and 34 chemical companies eligible for the DJSI Emerging Markets, which tracks the performance of the top 10% of the 800 largest Emerging Markets companies. Out of which, IVL is among only 10 chemical companies in the DJSI World and only 3 chemical companies in the DJSI Emerging Markets. That reflects the outstanding proposition of IVL as the world’s leading sustainable chemical company.
IVL’s consistently high ranking in DJSI is driven by the company’s ambition to build its industry leadership in sustainability. Under Vision 2030, IVL is committed to reducing GHG intensity by 30% and increasing renewable electricity consumption to 25%. This year, IVL also committed to setting science-based targets through the Science Based Targets Initiative (SBTi). The company also participates in the SBTi Expert Advisory Group for the chemicals industry and provides funding for developing chemical sector decarbonization solutions.
As the world’s largest producer of recycled PET resins commonly used for beverage packaging, IVL is expanding its post-consumer PET bottles recycling capacity to help resolve environmental concerns and build a circular economy. The company has already passed the half-way point in its target of increasing its post-consumer PET bale input to 750,000 tons, or 50 billion bottles, per year by 2025 and has set its more ambitious goal of reaching 1.5 million tons, or 100 billion bottles, per year by 2030.
IVL continues to increase its investment in the Vision 2030 agenda, which includes advanced recycling and bio-based feedstock. This year, IVL partnered with Coca-Cola Beverages Philippines, and the joint venture launched a new recycling plant called PETValue in the Philippines to recycle used beverage bottles to produce new food-grade bottles.
In alignment with the company’s finance strategy linked to its sustainability targets, IVL secured sustainable finance of totaling USD 1.3 billion in 2021 linked to improvements in the company’s sustainability performance as a global leader in environmental, social, and governance (ESG) integration, including green loans, a blue loan, and sustainability-linked bonds. In addition, this year, the company recently signed a EUR 275 million ESG-linked revolving credit facility with six banks, reinforcing its long-standing commitment to the company’s longevity towards sustainability-driven financing.