Sustainable Development Goals
We are committed to playing a constructive role by contributing to the achievement of the following Sustainable Development Goals.
SDGs Report 2024
2023 SDGs progress
Indorama Ventures visited the UN Global Compact's headquarters in New York
Indorama Ventures visited the UN Global Compact's headquarters in New York, and had meetings with Ms. Sue Allchurch, Chief of Outreach and Engagement, and Mr. Maxell MacKenna, Manager of Fundraising and Sponsorships.
The purpose of these meetings was to discuss possible collaborative opportunities in their Supply Chain Pilot Program. This program helps leverage sustainable practices in supply chains pertaining to human rights, environment, labor, and anti-corruption, in line with the UN Global Compact principles. It can further contribute to net zero ambitions and the SDGs.
Indorama Ventures also took the opportunity to provide the company's SDGs Report to Ms. Allchurch and Mr. Maxell. They both appreciated the report and Indorama Ventures efforts and contributions in achieving UN SDGs.
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Guaranteeing the health and safety of our products, employees and contractors
Outcomes
- 290 initiatives to support well being and health of local communities.
- 24 initiatives to support vulnerable groups and groups with disabilities.
- 40 initiatives to provide basic needs to local communities.
- 29 sports initiatives to promote both mental and physical health for children.
- Donated US$ 2,337,072 (16% of total social contribution) to Social & Well-being and Health & Sports initiatives
- One fatality of our employees
- Total Recordable Injury Rate (TRIR): 0.82 cases/200,000 man-hours
- Lost Time Injury Frequency Rate (LTIFR): 0.51 cases/200,000 man-hours
Our Commitments
- Increasing access to quality and essential health care services
- Reduction in the Lost Time Frequency Injury Rate (LTIFR) to less than 0.5 cases per 200,000 man-hours by 2025, and less than 0.1 cases per 200,000 man-hours by 2050
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Providing learning and development opportunities to all staff and promoting recycling education in society
Outcomes
- Waste Hero Education: Reduce to Zero - a global resource for teachers with 19 well-crafted lesson plans focused on Recycling Fundamentals, Creating Zero Waste, and Building the Circular Economy.
- Recycling education to 199,787 people, 185,482 students and 7,179 teachers.
- STEM education and training: 5 initiatives to support STEM education, competitions, challenges, and innovation programs, 12 STEM scholarships granted by Indorama Ventures Oxides and Derivatives. And 10 sponsorship programs channeled through various associations.
Our Commitments
- Increasing STEM education and student and teacher training
- Educating 1,000,000 consumers around the world on recycling by 2030
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Supporting gender equality and the increased participation and advancement of women
Outcomes
- 25.40% of Women in Management Positions
Our Commitments
- Increasing the number of women in managerial and leadership positions
- Empowering vulnerable women to gain valuable skills positively impacting their lives
- No human rights violations
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Managing sustainable water consumption and discharge, analyzing global water risk to minimize the water crisis
Outcomes
- 100% of water is treated before being discharged
- 1.7% water intensity reduction in 2022
- 7.2% water reused / recycled
- US$ 1.68 million in water efficiency projects
- Water Stress Analysis through the WRI Aqueduct Tool
Our Commitments
- 10% water intensity reduction by 2025 from 2020 levels
- Promoting sustainable water management
- Increasing access to safe drinking water for communities in rural areas
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Increasing the use of electricity from renewable sources where possible
Outcomes
- In 2022, our combined use of 579,224 GJ of renewable energy
- Six plants utilizing renewable energy
- 58% of ISO 50001 certifications
- 15 onsite/offsite Solar installations
Our Commitments
- Renewable electricity consumption: 10% by 2025 and 25% by 2030
- Promoting sustainable energy efficiency
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Providing decent working conditions, a non-discriminatory environment and equal opportunities in our operations and supply chain
Outcomes
- 86.29% global retention rate
- Employed 369 persons with disabilities
- 15% of our employees are below 30 years old
- 789,313 total training hours
Our Commitments
- Protecting labor rights and promoting a safe and secure working environment
- Reducing the Lost TIme Injury Frequency Rate (LTIFR) to less than 0.5 cases per 200,000 man-hours in 2025 and less than 0.1 cases per 200,000 man-hours in 2030
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Empowering sustainable development through investments in manufacturing, innovation and technology
Outcomes
- 472 New products introduced in 2022
- US$ 42.4 million in direct R&D spending
- 355 R&D employees / 27 R&D Centers globally in 2022
- 384 patents in 2022 (out of an overall 1300 patents)
- 264 projects with customers, suppliers and academia
- US$ 11.3 million investment in GHG projects
- 2022 Vitality Index*: Fibers business = 22%, Combined PET = 27% and IOD business 22.1%
- Indorama Ventures completes acquisition of Brazil-based Oxiteno
- US$ 2.4 billion of total Sustainable finance
Our Commitments
- Investing US$1.5 billion in sustainability projects (Recycling and Operational efficiency)
- 10% combined GHG (Scope 1 & 2) intensity reduction from 2020 levels
- 2022 Vitality Index*: Fibers Business = 23%, Combined PET = 31% and IOD Business = 22%
* Vitality Index: Revenue generated from the sales of products developed during the last five years.
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Strengthening efforts to protect natural heritage and reduce the adverse environmental impact with a focus on people in vulnerable situations in making sustainable cities and communities
Outcomes
- 342,961 tons equivalent to 15.4 billion bottles of post-consumer PET bottles diverted from landfill and oceans in 2022
- 72% of waste diverted from landfill in our operations
- The Rayong IVL group of companies recently became an associate member of the Community Partnership Association (CPA) or Puenchumchon. The CPA collaborates with students from Thammasat University’s Faculty of Commerce and Accounting to promote the development of community enterprises.
- Supported 24 vulnerable groups and groups with disabilities
- Promoted 24 organizations for environmental developments and recycling
- Community investments more than US$ 1,650,000
Our Commitments
- Recycling 50 billion PET bottles per year by 2025
- Improving our operational eco-efficiency through sustainability initiatives and green projects
- 90% waste diverted from landfill by 2025
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Reducing the impacts of our products in the use phase and promoting ways to include recyclability and circularity
Outcomes
- Approximately 100 billion bottles recycled equivalent to 2.9 million tons Carbon footprint reduction as of September 2022 since 2011
- 72% waste diverted from landfill
- 7.2% water reused / recycled
- 1,135,643 bottles collected globally, and 25,200 kg of bottles returned to recycling factories
- Provided recycling education program to 199,787 people in 2022
- Successfully commissioned our first bottle-to-bottle recycling facility in the Philippines, “PETValue” withCoca-cola.
Our Commitments
- Recycling 750,000 tons of post-consumer PET materials as feedstock per year by 2025
- Recycling 50 billion PET bottles per year by 2025
- 10% water intensity reduction by 2025 from 2020 levels
- 90% waste diverted from landfill by 2025
- Educating 1,000,000 consumers around the world on recycling by 2030
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Improving resource use, energy efficiency, and developing strong low-carbon strategies
Outcomes
- 2.9 million tons of carbon footprint reduced by recycling post-consumer PET bottles
- US$ 11.3 million in energy efficiency investments
- More than 74,000 tons GHG reduction from renewable energy consumption
- Aligned the COP21 and TCFD frameworks and recommendations in our 2025 Climate Change Strategy
- Engaged with CDP: Climate / Supply Chain Management
Our Commitments
- 5% energy intensity reduction by 2025 from 2020 levels
- 10% GHG intensity reduction (Scope 1 and 2) by 2025 from 2020 levels
- Committed to becoming a carbon neutral company
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Preventing, reducing and collaborating with like-minded organizations to address waste in the oceans
Outcomes
- 342,961 tons equivalent to 15.4 billion bottles of post-consumer PET bottles diverted from oceans in 2022
- FiberVisions has committed to Operation Clean Sweep (OCS), a pledge aimed at preventing any loss of pellets, flakes, or powder loss into the oceans
- CiCLO is a textile technology that promotes the biodegradation of synthetic fibers, thereby reducing synthetic microfiber pollution in the event that the products are discarded into the ocean, landfills and wastewater
Our Commitments
- Recycling 750,000 tons of post-consumer PET materials as feedstock per year by 2025
- Reducing ocean pollution by recycling 50 billion PET bottles per year by 2025
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Reducing the risk of potentially adverse environmental impacts and monitoring the new areas near our operations
Outcomes
- 342,961 tons equivalent to 15.4 billion bottles of post-consumer PET bottles diverted from landfill in 2022
- 72% of waste diverted from landfill in our operations
- In June 2023, Indorama ventures completed Taskforce on Nature-related Financial Disclosures (TNFD)
- Indorama Ventures Xylenes & PTA (IVXP) The Wetlands Edge Environmental Center (WEEC) was established to educate students on responsible environmental and natural resources stewardship
Our Commitments
- Protecting and restoring degraded forests and promoting sustainable ecosystems and biodiversity
- Reducing on-land plastic pollution by recycling 50 billion PET bottles per year by 2025
- 90% waste diverted from landfill by 2025
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Partnering with organizations to intensify our contributions to achieve the goals and a circular economy
Outcomes
- Indorama Ventures is a proud signatory of the World Economic Forum’s Alliance of CEO Climate Leaders
- We are a signatory and supporter of the Women’s Empowerment Principles and apply UN Global LGBTI Standards of Conduct to promote gender equality, women’s empowerment, and diversity and inclusion in the workplace, marketplace, and community
- Indorama Ventures Joined UN Global Compact’s CEO Forum on Sustainable Finance
Our Commitments
- Partnering with organizations to intensify our contributions to the achievement of SDGs
- Partnering with organizations to intensify our contributions to the circular economy
- = Major
- = Moderate
- = Monitor
The 17 SDGs and 169 targets seek to eradicate poverty, strengthen human rights, and promote gender equality and the empowerment of women and girls. They are integrated and indivisible and balance the three dimensions of sustainable development: The economic, social and environmental. The goals and targets will stimulate action in areas of critical importance for humanity and the planet.
Indorama Ventures hereby pledge that by 2030, we shall collectively invest a total of Baht 1 billion, in approximate 45 projects and initiatives that directly support achieving the SDGs and commit to embedding the SDGs into the core of our business strategies and activities.
IVL's Key Focus Themes on SDGs
Achieving the SDGs by 2030 is highly ambitious. The private sector has an important role to play along with governments, institutions, and communities in delivering these goals. It is in the interest of businesses to engage in creating a more sustainable future.
Considering the nature of business, Indorama ventures is committed to play its role by contributing to the achievement of following UN SDGs. The fully coloured goals below are directly impacted by business activities which Indorama Ventures strongly supports. The faded goals are indirectly impacted by business activities which Indorama ventures keeps monitoring.
Recycling and Circular Economy
Bringing customers of recycled products into the product value chain cycle and developing ways to include recyclability into all products
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Climate Change
Being fully aligned with the global initiatives agrred at the Paris Climate Conference (COP21) towards developing strong low-carbon strategies
Read more
Product Stewardship
Reducing the risk of the adverse environmental, health and safety impacts of our products in use phase and disposal
Read moreEnvironmental Stewardship
Improving resource efficiencies and ensuring our production is environmentally-friendly
Read more
Health and Safety
Guaranteeing that health and safety are at the forefront of our activities
Read more
Employee
Focusing on hiring woman and providing development opportunities that support gender diversity
Read moreCorporate Citizenship
Making Recycling Education as a part of our global CSR Flagship Program
Read more
SDGs Collaboration Project Highlights
PET Bottle Circularity Drive to Encourage Responsible Consumption and Reduce GHG Emissions
Indorama Ventures and the Faculty of Engineering and Industrial Technology at Silpakorn University joined together to drive the SDGs Collaboration Project, as part of the “Green Campus Kickstart: Step One to Sustainability.” This initiative is one of the key components within the “Circular Economy” course and aims to raise awareness about environmental issues caused by plastic waste, while promoting sorting practices in line with the university’s waste management policies. It serves as an inspiration for students to contribute to the circular economy by sustainably utilizing existing resources. This event focused on collecting post-consumer PET bottles for recycling and other environmentally responsible purposes. Initiatives like these play a vital role in reducing plastic waste and promoting sustainability. Indorama Ventures supported Recycling and Circular Economy Education to demonstrate how post-consumer PET bottles can be turned into new products, such as rPET resin and fibers. This aligns with responsible production and consumption (SDG 12), and also delivers other value in terms of carbon footprint reductions (SDG 13) and diverting PET waste from landfills (SDG 10).
Engaging with 300 undergraduate students, professors, and staff, the faculty collectively contributed a total of 900 kilograms of PET bottles during this one-day event. The PET bottles collected were sent for recycling at our recycling plant in Nakhon Pathom, contributing to a GHG reduction of almost one ton
SHARING SUSTAINABLE SOLUTIONS AT THE CLIMATE CHANGE CONFERENCE 2023
At the 28th United Nations Climate Change Conference (COP28), held from November 30 to December 12, 2023, at Expo City in Dubai, Indorama Ventures showcased its innovative sustainability solutions and decarbonization strategy, emphasizing its pioneering investments in developing sustainable solutions to mitigate PET’s environmental impacts while driving the global circular economy. Mr. Yash Lohia, Chairman of the ESG Council, emphasized Indorama Ventures’ commitment to environmental responsibility, pledging to intensify the use of renewable energy, produce low-carbon products, and optimize resource efficiency
Our participation at COP28 underscores collaborative environmental stewardship with the Thai government in addressing global climate challenges. Mr. Anthony M. Watanabe, our Chief Sustainability Officer, took part in a keynote session and panel discussion at the conference, sharing insights on the role of circularity in building a low-carbon world. He highlighted our groundbreaking initiatives, such as the world’s first sustainable monolayer PET sparkling wine bottle and advancements in biotransformation technology for hygiene items with global start-ups like SIPA and Polymateria, which aim to develop sustainable solutions and drive the global circular economy while emphasizing the Company’s dedication to sustainability and climate action.
UN Climate Week
In September 2023, Indorama Ventures’ Chief Sustainability Officer, Mr. Anthony M. Watanabe, participated in a series of leadership meetings during UN Climate Week in New York, hosted by the World Economic Forum. These discussions covered a wide range of climate issues, ranging from a global plastics treaty, to promoting circular trade and green foreign direct investment, in addition to building the business case for climate adaptation. The World Economic Forum organizes a Community of Chief Sustainability Leaders, which brings together over 100 Chief Sustainability Officers from top global companies across 24 industries and 28 countries to gain insights and remain updated on the latest nature and climate trends and their impacts on business.
Chief Sustainability Leaders play a vital role in helping CEOs and their organizations navigate this shifting landscape. Among the different topics, climate adaptation is a major concern for the community, not only because of the impacts leaders are already observing in their businesses but also because climate risk is a reporting requirement under the new Corporate Sustainability Reporting Directive (CSRD) framework in the EU.
