Kuwait, July 22 2019 – The EQUATE Group, a global producer of petrochemicals, participated in the Voluntary National Review (VNR) of the State of Kuwait held during the United Nations’ High-Level Political Forum On Sustainable Development in New York, showcasing the Company’s investments and initiatives in supporting sustainable development.
Commenting on the Company’s participation in the Forum, EQUATE Group President and CEO, Dr. Ramesh Ramachandran, said: “On behalf of EQUATE, I extend our sincere gratitude to the General Secretariat of the Supreme Council for Planning and Development for choosing our Company to represent the State of Kuwait at the Forum. We are proud at EQUATE of the milestones we’ve achieved in our Sustainability Strategy and in partnership with public and private organizations around the world.”
Speaking on behalf of the Company was Senior Executive for Corporate Communications & Government Affairs, Dr. Abeer Al-Omar, who is a member in the Permanent National Guiding Committee of the State of Kuwait.
She said: “We believe that the long-term growth of any organization is interlinked with sustainability, this is why we have aligned our strategy with the UN Sustainable Development Goals and the New Kuwait 2035 vision, aiming to contribute to economic welfare, social wellbeing and environmental preservation.”
Economically, EQUATE Group contributes to over 60% of Kuwait’s export and economic growth value from non-oil sources, and invested over USD 1 billion in the past five years in the local private sector and a similar amount in payrolls, funneling it back into the economy.
In terms of solutions and innovations, EQUATE established Kuwait’s first CO2 Recovery Plant, and invested in its own innovations, such as Viridis 25, a new plastic bottle that uses up to 25% recycled plastic, which will be commercially available in the next couple of months.
From its long-standing commitment to environmental preservation, EQUATE joined forces with ‘The Alliance to End Plastic Waste’ on July 8th to end plastic waste by promoting infrastructure, education and engagement, innovation, and cleanup efforts. We also give equal importance to life on land and under water through our tree-planting initiatives in China and the conservation of the Ellis Bird Farm in Canada.
In terms of social sustainability, The Company has also pledged commitment to the United Nations (UN) Women’s Empowerment Principles (WEPs) statement and subsequently launched its ELEVATE program which promotes gender equality. In addition to investing in education and development of engineers.
For more information about EQUATE’s commitment to sustainability, visit https://www.equate.com/en/Sustainability.html.
About EQUATE Group:
The EQUATE group (comprising EQUATE Petrochemical Company K.S.C.C., its subsidiaries, and The Kuwait Olefins Company K.S.C.C.) (the “EQUATE Group” or the “Group”) is a global producer of petrochemicals and the world’s second largest producer of ethylene glycol (EG). The Group owns and operates industrial complexes in Kuwait, North America and Europe that annually produce over 6 million tons of ethylene, EG, polyethylene (PE), polyethylene terephthalate (PET), styrene monomer (SM), paraxylene (PX), heavy aromatics (HA) and benzene (BZ). The Group’s products are marketed throughout Asia, the Americas, Europe, the Middle East and Africa. The EQUATE Group’s shareholders include Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Employing more than 1,500 people worldwide, the EQUATE Group is a leading enterprise that pursues sustainability wherever it operates through partnerships in fields that include the environment, economy and society. Visit www.equate.com for more information.