At NOVA Chemicals, our vision is to become the leading sustainable polyethylene producer in North America. We have a plan to lead the industry in driving the circular economy for plastics starting with the ambitious yet achievable goals we have outlined in NOVA 2030: Our Roadmap to Sustainability Leadership. By 2030, we aim to become a Top 30 company in Canada. To solidify the market for recycled polyethylene (rPE), our goal is to have 30% of our total polyethylene (PE) sales come from recycled content. We will strive to reduce our CO2 emissions by 30% in the near future and 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, and being a responsible steward of our environment,” said Danny Dweik, Interim CEO. “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.”
These aspirations require new operations and technologies. We plan to invest between USD$2-4 billion by 2030 to develop new sustainable products, lead decarbonization efforts, build a mechanical recycling business and explore advanced recycling solutions to create high-quality, high-performance recyclable and low carbon plastics.
Our plans for our product portfolio include more options for sustainability-focused end markets such as electric vehicles and renewables. We will build on our Advanced SCLAIRTECHTM technology (AST) to develop advanced materials such as our first ASTUTE™ polyolefin plastomers line. We will also continue to grow our SYNDIGO™ rPE portfolio of recycled and recyclable PE resins to offer converters and brand owners the opportunity to reduce plastic waste and emissions.
To decarbonize our assets, we have created a technical solutions-focused roadmap that includes short term goals for 2030 that will support our long-term objective of net-zero Scope 1 and 2 absolute CO2 emissions by 2050. We will work to reduce emissions from our production processes through new innovations such as our proprietary Low Emissions Ethylene Process (LEEP™) technology.
We will improve energy efficiency and acquire low carbon, renewable power for our facilities, starting with our virtual power purchase agreement (VPPA) for wind power from Shell Energy. The roadmap also includes the exploration of clean hydrogen as a fuel source and Carbon Capture, Utilization, and Storage (CCUS).
The world is changing. We are ready to lead the transition to a circular economy and develop innovative solutions that help our customers and protect the planet for future generations. For more information about our commitment to the environment, health and safety, read our annual ESG report.