SABIC received the second issuance of carbon credits from the United Nations for a Clean Development Mechanism (CDM) project at its Al-Bayroni manufacturing affiliate.
SABIC received over 48,000 carbon credits for efficiency improvement by boiler rehabilitation in fossil-fuel-fired steam-boiler system for 2016 and 2017 based on actual operations.
The same project had previously received around 53,000 credits for 2014 and 2015.
"We are very proud to maintain our position as the only organization in Saudi Arabia to receive carbon credits from the UN,” said Yousef Al-Benyan, SABIC Vice Chairman and CEO.
“We aim to be a regional leader in sustainability by investing heavily in initiatives such as these. By doing so, we are ensuring our long-term success while benefiting society, stimulating downstream growth, and supporting Saudi Vision 2030,” he added, according to SABIC official website.
Under the Clean Development Mechanism, emission-reduction projects in developing countries can earn certified emission-reduction credits and contribute to sustainable development.
These saleable credits – each equivalent to one ton of CO2 – can be used by industrialized countries to meet a part of their emission-reduction targets under the Kyoto Protocol.
Ahmed Al-Jabr, Al-Bayroni President, said, “This project involved rehabilitating boilers to maximize energy efficiency and significantly reduce the use of fossil fuels.
