Orbia Unveils Annual Impact Report, Showcasing Advances in Sustainability Initiatives

On March 25, 2024, Orbia Advance Corporation, S.A.B. de C.V. (BMV: ORBIA*) unveiled its 15th annual Impact Report, encapsulating the company’s holistic business performance and significant strides in advancing global well-being. Sameer Bharadwaj, CEO of Orbia, emphasized the company's unwavering dedication to its mission amidst dynamic global challenges. He remarked, "What’s beneficial for the world is inherently good for business. Despite the external pressures of 2023, we maintained our commitment to delivering solutions addressing critical global challenges such as food and water security, connectivity, and decarbonization."

Bharadwaj underscored the pivotal role of resilient individuals within the organization, stating, "Our business resilience is a testament to the resilience of our people, driven by a shared desire to make a positive impact." He highlighted Orbia's robust market position and adherence to operational excellence and financial prudence, enabling the company to meet its adjusted goals and invest strategically in fostering a net-zero future. Noteworthy achievements included significant progress in facilitating the North American energy transition through flagship projects focused on the production of essential components for electric vehicle batteries.

Tania Rabasa Kovacs, Vice President of Sustainability and Corporate Affairs at Orbia, reiterated the company's commitment to creating a sustainable future for all stakeholders. She outlined Orbia's sustainability strategy centered on developing sustainable solutions, fostering low-impact operations, and catalyzing technological innovation through impactful ventures. Kovacs emphasized the imperative of evolving business practices to align with the goal of achieving net-zero emissions by 2050 while ensuring transparency and accountability in reporting.

Orbia's strategic evolution towards sustainability has been marked by several milestones, including the approval of ambitious emissions reduction targets by the Science Based Targets initiative (SBTi) and the integration of environmental, social, and governance (ESG) metrics into short-term incentive plans. Moreover, Orbia has adopted a comprehensive approach to climate risk assessment and materiality evaluation, reflecting its commitment to addressing both internal and external sustainability challenges.

The report also spotlighted Orbia's efforts to nurture a world-class company culture, including initiatives to promote diversity and inclusivity. Notable achievements in 2023 included the launch of Orbia's employer brand and the enhancement of its employer value proposition (EVP), which garnered enthusiastic participation from over 20,000 employees. Orbia also made significant strides in gender diversity, with 23% of management positions held by women.

Key highlights of Orbia's progress in the 2023 Impact Report encompassed various dimensions of sustainability and social impact:

•              Orbia has increased the portion of its revenues allocated to advancing the United Nations (UN) Sustainable Development Goals to 65%, a rise from 61% in 2022.

•              Orbia has achieved a reduction in scope 1 & 2 emissions by 28% and scope 3 emissions by 20% compared to the 2019 baseline. Moreover, sulfur oxide emissions have been slashed by an impressive 84% compared to the 2018 baseline, exceeding the commitment made under the Sustainability-Linked Bond.

•           A significant decrease in the amount of process waste sent to landfills has been observed since 2022, with a notable reduction of 45%. Additionally, 71% of Orbia's manufacturing plants have successfully attained a zero waste to landfill status.

•           Extensive outreach in Latin America through Water, Sanitation and Hygiene (WASH) programs benefiting over 25,000 individuals, accompanied by more than 20,000 volunteer hours contributed through the Volunteering with Purpose program.

•           Orbia has outlined plans to launch two new projects in collaboration with Solvay and Kanto Denka Kogyo in the U.S., aiming to produce PVDF and LiPF6. These components are crucial for lithium-ion batteries powering electric vehicles (EVs).

•             Furthermore, Orbia has advanced circularity and decarbonization initiatives across all its business sectors. This includes implementing new programs for PVC recycling, providing carbon credits for large-scale agricultural activities, and introducing eco-friendly product portfolios.

•            Moreover, Orbia has made significant investments, allocating $7.1 million from Orbia Ventures to support seven startups focused on environmental impact. Additionally, the company has conducted 10,000 hours of training aimed at fostering innovation among its employees.

Orbia's 15th annual Impact Report stands as a testament to its unwavering commitment to sustainability, innovation, and social responsibility, reaffirming its position as a global leader in advancing life around the world.