JEDDAH – Saudi Basic Industries Corporation (SABIC) Saturday released its first Sustainability Report, entitled “Sustainability+Performance.” The report, covering sustainability performance in 2011, will be published annually and will serve as a valuable tool for customers, investors and stakeholders to evaluate SABIC's commitment and performance toward sustainable business practices, said a SABIC press statement. The report signals a new phase in SABIC's journey towards sustainability, laying the groundwork for accelerated efforts in the years to come. “SABIC's future growth and development depends on creating solutions for the major issues facing society today and tomorrow – successful solutions that create value for society and in turn, growth for our business,” said Mohamed Al-Mady, SABIC Vice Chairman and CEO. “Sustainability for SABIC means we have strategies, goals and actions in place to address stakeholder expectations of our responsibility as a corporation. These plans, driven by transparency and accountability, will ultimately deliver economic, social and environmental benefits that will secure the longer term sustainability of our business, employees, community and the planet at large,” he said. SABIC's 2011 achievements in the report include a new Code of Ethics across the entire global business; the establishment of environmental performance targets for reductions in greenhouse gas, energy, water, and material loss intensity in all our operations; the assumption of a leadership role in the Middle East on the implementation of Responsible Care®; the development of one robust set of health, safety, and security policies across the company. The report was developed using the Global Reporting Initiative's reporting standards. – SG
