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Commitment aligned with the UAE’s Net Zero by 2050 Strategic Initiative

Company sets 2030 interim goals, focusing on decarbonising operations and building on its strong track record in energy efficiency

Abu Dhabi, United Arab Emirates (UAE) – 2 April 2024: Borouge Plc, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, has committed to achieving net zero across its scope 1 and 2 carbon emissions by 2045.

The commitment is an extension of the Company’s best practice approach to Environmental, Social, and Governance (ESG) principles, supporting the UAE’s sustainability goals. The UAE was the first country in the Gulf Cooperation Council (GCC) region to commit to net zero and has launched a national Net Zero by 2050 strategic initiative, setting out a clear pathway for achieving its objective.

To achieve net zero emissions in its operations, Borouge has set intermediate targets for a 25% reduction in greenhouse gas (GHG) emissions intensity and a 30% reduction in energy intensity by 2030. The company will continue its energy efficiency programme and explore new technology and decarbonisation levers, including advancements in the areas of electrification and carbon capture.

Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “As an industrial champion of the UAE with an extensive international footprint, Borouge embraces the significant role that it can play in providing mitigating solutions to climate change. Our differentiated products are increasingly deployed in renewable energy infrastructure, sustainable mobility, agriculture, and advanced packaging. We are taking strong strides in promoting a circular economy. Inspired by the UAE’s climate ambition, Borouge is resolutely pursuing net zero in its own operations, aiming for an accelerated timeframe of 2045. This marks a substantial step forward in our sustainability journey and we are committed to tracking our progress through a robust governance framework that includes best practice measurement and disclosure.”

In Borouge’s case, scope 1 includes GHG emissions from the manufacture and processing of its high-quality polyethylene and polypropylene. Meanwhile, Borouge’s scope 2 emissions are attributed to energy consumption, including those from the electricity, heating, and cooling used during production.

Borouge has set interim 2030 goals to achieve its ambitions and will continue to pursue resource efficiency alongside decarbonising its operations. The Company’s commitment to successful energy-saving initiatives achieved a 30% reduction in emission intensity in 2023 compared to the 2018 baseline, which surpassed the Company’s 25% reduction goal for 2030 seven years ahead of schedule.

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About Borouge Plc                                        

Borouge Plc,listed on the Abu Dhabi Securities Exchange (ADX symbol: BOROUGE / ISIN AEE01072B225), is a leading petrochemicals company that provides innovative and differentiated polyolefin solutions for the infrastructure, energy, mobility, healthcare, agriculture and advanced packaging industries. Borouge employs more than 3,100 people and serves customers in over 86 countries across Asia, the Middle East and Africa.

Founded in 1998 through a strategic partnership between ADNOC and Borealis, Borouge was formed to build and operate a polyolefins complex in Al Ruwais Industrial City, United Arab Emirates, which today is one of the world’s largest integrated polyolefin complexes. ADNOC owns a majority 54% stake and Borealis holds a 36% stake in Borouge.

To find out more, visit: borouge.com

For further information, please contact:

Rehab Ateeq 
Vice President, Global Communications 

Samar Khan
Vice President, Investor Relations