Nova Chemicals sets ESG goals to increase recycled content sales by 2030

Nova Chemicals Corp., a Calgary, Alberta-based polyethylene (PE) producer, has set new environmental, social and corporate governance (ESG) goals to improve the circular economy for plastics in North America.

According to Nova Chemical’s new ESG goals in its Nova 2030: Our Roadmap to Sustainability Leadership report, the company aims to drive the transition to the plastics circular economy and solidify the market for recycled PE with 30 percent of its PE sales from recycled content by 2030. The company says it also aims to be at the forefront of decarbonization by reducing its Scope 1 and 2 CO₂ emissions by 30 percent by 2030.

The company’s report also outlines its goal to reach net-zero Scope 1 and 2 emissions by 2050.

“Nova’s Roadmap to Sustainability Leadership details a strong plan forward for the company to become the leader in sustainable polyethylene production while building on our commitments to developing innovative solutions for our customers, enabling the circular economy,” Nova Chemicals CEO Danny Dweik says. “Plastic products play an essential role in our daily lives. With our renewed purpose of reshaping plastics for a better, more sustainable world, we have developed a clear pathway to become a catalyst for a low-carbon, zero-plastic-waste future.”

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According to a news release from Nova Chemicals, the company plans to invest between $2 billion and $4 billion by 2030 to expand its sustainable product offerings, decarbonize assets and build a state-of-the-art mechanical recycling business while exploring new advanced recycling technologies to create high-quality, high-performance recyclable and low-carbon plastics.

In addition, Nova Chemicals says it will build on its proprietary Advanced Sclairtech technology and explore the possibility of expanding this portfolio to include the development of new, advanced materials. These new product offerings, which will include the company’s Astute polyolefin plastomers line, will serve its existing customers and provide options for sustainability-focused end markets such as electric vehicles and renewables.

Additionally, Nova Chemicals says it has started to grow its portfolio of recycled and recyclable PE resins through its launch of its Syndigo recycled PE, a portfolio of products made from circular polymers to encourage waste and emissions reductions.