LyondellBasell Scales Back Recycled Plastic Production Goal

Chemical firm reduces 2030 target from 2 million to 800,000 metric tons

Published on Feb. 24, 2026

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LyondellBasell, a global chemicals and polymers company, has announced updates to its 2030 climate and circularity goals, including a 60% reduction in the volume of recycled-plastic content it intends to produce annually by 2030. The company has lowered its target from 2 million metric tons per year to 800,000 metric tons, citing the need for 'disciplined capital allocation' amid evolving market conditions and regulatory developments.

Why it matters

LyondellBasell's decision to scale back its recycled plastic production target reflects the challenges the industry faces in scaling up recycling infrastructure and meeting ambitious sustainability goals. This move highlights the tension between corporate sustainability commitments and the practical realities of implementing large-scale recycling programs.

The details

LyondellBasell says it now intends to reduce its Scope 1 and 2 greenhouse gas emissions by 32% by 2030, down from an earlier goal of a 42% reduction. The company cites 'the need for disciplined capital allocation' and 'evolving market conditions and regulatory developments' as reasons for the adjustments to its goals. Despite the reduced targets, LyondellBasell says it is continuing with the construction of the MoReTec-1 plant in Germany, which it calls the first commercial-scale catalytic chemical recycling plant using its MoReTec technology.

  • LyondellBasell announced the updates to its 2030 goals on February 24, 2026.

The players

LyondellBasell

A global chemicals and polymers company headquartered in the Netherlands and Houston, Texas.

Peter Vanacker

The CEO of LyondellBasell.

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What they’re saying

“Over the past several years, we have made measurable progress and gained a deeper understanding of factors that enable us to deliver value from circular and low-carbon solutions, including the pace of policy adoption and implementation, market demand and technology readiness.”

— Peter Vanacker, CEO (Recycling Today)

“At the same time, maintaining capital discipline is essential in the current economic environment. We will continue to create value for our stakeholders through being a leader in sustainability in the chemical industry and executing our strategy. These updates to our goals ensure we remain focused on advancing sustainability as a key value driver of our business at a pace aligned with market conditions and the regulatory environment.”

— Peter Vanacker, CEO (Recycling Today)

What’s next

LyondellBasell says the updated goals will not impact existing supply commitments or commercial contracts, and the company is continuing with the construction of the MoReTec-1 plant in Germany, its first commercial-scale catalytic chemical recycling facility.

The takeaway

LyondellBasell's decision to scale back its recycled plastic production target highlights the challenges the industry faces in meeting ambitious sustainability goals. While the company remains committed to advancing its circular economy efforts, it is also prioritizing capital discipline and aligning its goals with evolving market conditions and regulatory developments.