MOSCOW, RUSSIA –
Media OutReach – 27 April 2022 – SIBUR, the largest integrated petrochemicals company in Russia and one of the fastest-growing companies in the global petrochemicals industry, has launched the Green Formula forestation initiative as part of a wide-reaching decarbonisation strategy.
In 2022, SIBUR will plant more than one million trees in five regions of Russia where the Company operates, increasing this number to at least five million by 2025. SIBUR also expects to pilot the issuance of carbon credits at a carbon monitoring site in the Voronezh Region.
The launch of the Green Formula comes as SIBUR pursues a business expansion on the Chinese market in support of the Company’s long-term development. The Company sees particular growth potential in regard to China’s green agenda and the country’s aim to achieve carbon neutrality by 2060. This synergizes with SIBUR’s robust sustainability goals, including the Company’s push to increase production of environmentally friendly products and boost the share of renewable feedstock in its output.
During the current year, SIBUR will partner with the forestry units of local schools in Russia to plant 500,000 seedlings in regions of Central Russia and the Far East. The initiative includes a set of measures to support the development of regional ecosystems, such as fitting out forest facilities to monitor rooting and take care of the seedlings, in addition to providing methodological assistance to teachers, developing an educational programme and providing support for scientific research in schools.
Another 500,000 seedlings will take root at the carbon monitoring site set up by SIBUR and the Voronezh Region government on the grounds of the Morozov Voronezh State University of Forestry and Technologies. The Green Formula site will occupy 155 hectares in 2022 and will be expanded to more than 2,600 hectares in the future. SIBUR is considering this site as the location for a pilot project on issuing carbon credits.