Indorama Ventures Public Company Limited (SET: IVL), a global sustainable chemical company, unveiled its climate resilience strategy at the Sustainability Expo (SX) 2024 in Bangkok, sharing its transformation efforts toward building a more sustainable future.
Indorama Ventures showcased its advanced risk management and a robust adaptation plan to sustain the company’s operations, mitigate climate impacts, and advance its sustainability journey amid increased frequency of natural disasters and severe weather.
According to the Nature Conservancy, the 1980s saw one billion-dollar weather event every four months, on average. In The last decade, the world has seen one every three weeks. During this period, Indorama Ventures faced significant operational challenges due to natural disasters, including tornadoes, hurricanes, floods, water scarcity, and forest fires. To adapt to the new conditions, the company has developed a ‘Climate Adaptation Plan’ to help mitigate risks across its global operations, and ensure the company is well-prepared for the impact of climate change. Indorama Ventures’ adaptation plan is monitored by an internal Sustainability Risk and Management Committee (SRMC) and has been implemented at all Indorama Ventures locations.
The estimated total climate adaptation finance flows to developing countries for 2021-2035 is projected at 840 billion USD (based on 2021-2022 levels). However, according to the Climate Policy Initiative, the actual climate adaptation finance needs for this period amount to 3.3 trillion USD, highlighting a substantial financing gap. Indorama Ventures recognizes this challenge and is embedding climate risk management directly into its business strategy, ensuring a continuous supply chain while mitigating financial risks such as rising insurance premiums and operational downtimes.
Anthony M. Watanabe, Chief Sustainability Officer at Indorama Ventures, said, “Our sustainability journey goes beyond stewardship—it’s about building resilience, ensuring the uninterrupted delivery of indispensable chemistry, and staying at the forefront of a sustainable future. Through our Adaptation Plan, we are setting the industry benchmark for navigating climate-related risks and securing business continuity. We are also committed to empowering and educating our workforce about climate risks and equipping them with the tools to assess the potential impacts. This strategic training initiative ensures that every level of the company actively contributes to its long-term climate resilience.”
Indorama Ventures’ presence at SX 2024 is part of its mission to grow its industry leadership in sustainability and closed-loop recycling, having processed over 126 billion PET bottles at its 20 recycling sites as of today. It is investing $1.5 billion to expand its recycling capacity and educate consumers on waste management practices.
The company’s exhibition in the ‘Better Living’ zone highlights its brand promise of ‘Indispensable Chemistry’, underscoring the essential role that PET, polyester, and specialty chemicals play in essential everyday applications from food and beverage packaging, apparel, home textiles, crop solutions, and home and personal care products. The exhibition also showcases Indorama Ventures’ sustainability strategy, responsible sourcing, and CSR initiatives.
Indorama Ventures invites partners, stakeholders, and visitors to join them at its booth, located at the Better Living zone, Hall 2, G Floor, SX 2024 and explore how ‘Indispensable Chemistry’ drives a sustainable future.
