SABIC shows how it is ‘thriving responsibly’ in new report

SABIC global headquarters in Riyadh. In 2020, SABIC deepened its commitment to the circular economy, addressing climate change and embedding ESG principles into every aspect of the business.
Short Url
Updated 25 April 2021
Follow

SABIC shows how it is ‘thriving responsibly’ in new report

SABIC has released its 2020 sustainability report, which reflects on the successes of its sustainability journey and the profound changes arising from a challenging yet remarkable year. Now in its 10th year and titled “Thriving Responsibly,” the report outlines how the company’s actions are advancing the circular economy, addressing climate change, and embedding environmental, social and governance (ESG) principles into every aspect of the business. 

Centering ESG is an important piece of SABIC’s sustainability strategy and journey of transformation and this year, SABIC created a new ESG steering committee, led by SABIC’s CFO. By embedding ESG inclusively and holistically, SABIC can weigh ESG factors alongside financial considerations in its decisions.

SABIC’s efforts to support the COVID-19 response also feature strongly in this year’s report. During 2020, it contributed more than $33.4 million in monetary and in-kind donations, delivered across 212 activities and reaching more than 35 million people on five continents. 

Yousef Abdullah Al-Benyan, SABIC vice chairman and CEO, said: “The year in review has proven that there are very real economic challenges for organizations that cannot or will not adapt to the changing world. Disruption triggered by the COVID-19 pandemic accelerated many of the trends that forward-looking companies had previously identified. Against this backdrop of definitive change, SABIC is well-positioned to thrive. Our longstanding ESG commitments have already helped strengthen our business resiliency, bringing enhanced operational efficiencies and timely investment in new low-carbon technologies.”

In the decade since the first sustainability report was published, SABIC has recorded impressive results in relation to climate, energy and resource efficiency commitments. Compared to 2010 baselines, in 2020 it secured important reductions in flaring emissions (56 percent), material loss intensity (46.3 percent), greenhouse gas intensity (15.5 percent) and energy intensity (10.5 percent). 

In 2020, SABIC also deepened its commitment to the circular economy, expanding the TRUCIRCLE portfolio of products and services to facilitate cross-value chain efforts working to close the loop on used plastic for good. 

Bob Maughon, executive vice president, technology and innovation, said: “SABIC is committed to addressing the industry challenges of carbon neutrality and the circular economy through embracing the need for innovation, external collaboration, and new value chain partnerships. In view of the commitment on a path to carbon neutrality, Science Based Targets initiative (SBTi) target setting is under review. Our success toward this ambition is enabled by the willingness to test new technology solutions, business models, and partnerships, and the integration of ESG principles into every part of our business, functions and markets.”

The 2020 Sustainability Report is a transparent insight into SABIC’s approach to delivering “Chemistry that Matters” to customers, suppliers, governments, NGOs, and communities all over the world.


RLC Global Forum places Kingdom at center of future of retail

Updated 16 January 2026
Follow

RLC Global Forum places Kingdom at center of future of retail

The RLC Global Forum will return to the Saudi capital on Feb. 3–4 to shape the future of retail and consumer-facing industries at a defining moment for growth against a backdrop of shifting cross-border commerce, evolving consumption patterns, and the global AI imperative.
As the world’s economic and cultural gravity continues to shift, Riyadh stands at the intersection of transformation by connecting East and West, tradition and innovation, and providing the ideal stage for this global dialogue.
The forum’s launch coincides with the announcement of two strategic partnerships with Cenomi Centers and Panda Retail Company, highlighting Saudi Arabia’s emergence as a driving force in the global growth narrative.
Speaking to Arab News ahead of the annual forum, Panos Linardos, chairman of RLC Global Forum, said the event enables decision-makers to create a sustainable growth and innovation strategy in retail by monitoring major transformative forces affecting worldwide leaders. 
“At the 2026 RLC Global Forum, the priority is not identifying trends — in fact most leaders already see the signals — but understanding how those forces collide and reshape decision-making. This year’s agenda reflects a world at a growth crossroads: capital is more disciplined, consumers are more selective, and traditional operating models are under strain,” said Linardos.
“This year we are focused on three interconnected questions. First, where does enduring growth come from when scale alone no longer guarantees resilience? Second, how are power and value shifting across the retail ecosystem? And third, how do markets like Saudi Arabia move from rapid expansion to sustainable, system-level value creation?” said the chairman.
“We believe that retail does not operate in isolation. That is why the forum is structured to examine these dynamics across retail, real estate, technology, and investment as a single interdependent system. This integrated view, rather than siloed thinking, is where meaningful strategy now takes shape,” he added.
The forum will convene more than 2,000 senior decision-makers in Riyadh, with participants spanning global retail groups, sovereign-linked investors, developers, technology platforms, policymakers, and academic institutions from more than 40 countries.
“What matters most, however, is not scale but composition. You must understand that this is an invitation-only audience shaped deliberately around decision-making authority. CEOs sit alongside ministers, investors alongside operators, and academics alongside practitioners, not to offer commentary, but to interrogate assumptions and test strategies against real-world constraints,” said Linardos.
What distinguishes the forum is its ability to bring global perspectives into direct conversation with regional realities.
“As Saudi Arabia’s role in global trade, tourism, and consumer markets accelerates, that intersection has become increasingly relevant for leaders reassessing how and where growth is built,” he said.
Reports indicate that retail sales in the Kingdom are forecast to reach $161.4 billion by 2028. “The scale of the opportunity is clear, but the more interesting question is how that growth is shaped,” Linardos told Arab News. “Demographics, digital adoption, tourism growth, and large-scale urban development are converging at once. That creates opportunity, but also raises the bar. The next phase of retail growth in the Kingdom will favor models that integrate physical space, digital infrastructure, cultural relevance, and operational discipline.”
At the 2026 RLC Global Forum, many of the discussions center on this transition, he said.
The Kingdom’s advantage lies in its ability to design ecosystems where retail, hospitality, culture, and experience reinforce one another. Creating this long-term, integrated value is a core focus of the discussions at the forum, he added.
Commenting on the forum’s role in the future of the Saudi retail landscape, Linardos said: “Saudi Arabia does not need another conference to showcase ambition. What it benefits from — and increasingly demands — is a platform for informed, global dialogue grounded in execution. The RLC Global Forum plays that role by positioning Saudi Arabia not as a case study, but as a strategic participant in shaping the future of retail and consumer economies.”
“By bringing global leaders into Riyadh, the forum allows for an exchange that is both outward-looking and locally anchored. As the Kingdom moves from rapid transformation to long-term institution building, these conversations become more consequential. The forum is thus a critical catalyst in translating Vision 2030’s ambitions into a resilient, global-market reality,” he added.
The RLC Global Forum is a leading platform that brings together the world’s most influential retail leaders, innovators, and policymakers to drive positive industry change. It marks the next phase of the Retail Leaders Circle’s 12-year mission to connect and empower decision-makers across the retail and consumer-facing sectors.
Through high-level dialogue and strategic cross-industry initiatives, the forum addresses the long-term forces defining the trajectory of retail and its interconnected ecosystems.
Alongside the annual retail forum in Riyadh, the RLC Global Forum curates a calendar of high-profile events around the world, including the CEO Summit in New York and the RLC Fashion Summit in Milan.