Indorama Ventures joined Together for Sustainability (TfS) last April. TfS talked to Yash Lohia, Chairman of the ESG Council of Indorama Ventures on the rationale for joining TfS, working with suppliers, and how they will implement the TfS Product Carbon Footprint Guideline into their organisation. 

On Indorama Ventures and sustainability

Q Can you briefly introduce your company and explain your position with regard to sustainability?

Indorama Ventures is a global sustainable chemical company with a footprint spanning across Asia Pacific, Europe, Africa, and Americas, including Latin America. We are catering to the end markets which have substantial growth opportunities supported by a megatrend of growing populations, increasing the quality of living and urbanisation by supplying necessities and household products for everyday life. Our company operates in 35 countries and has a workforce of over 26,000 employees. We have three business segments that each have clear ESG strategy and commitments; Combined PET, Fibers, and Integrated Oxides & Derivatives.

Indorama Ventures is committed to conducting our business in a socially responsible and environmentally sustainable manner. We recognize that our operations can have a significant impact on the environment and communities where we operate. As such, we strive to minimise our environmental footprint and work to continuously improve our sustainability practices. We have set ambitious sustainability goals, including reducing our greenhouse gas emissions, increasing our use of renewable energy, and improving our waste management practices. Additionally, we work closely with our customers and suppliers to promote sustainable practices throughout our value chain. Overall, Indorama Ventures is in the business of value creation and offering better solutions for our customers to help them achieve their sustainability goals. That is why we have 27 R&D and Tech Centres across the globe, covering all 3 Business Segments and including Oxiteno, to bring together sustainability and enhanced performance, while also having the right cost structure.

On joining TfS

Q What is the main rationale for Indorama Ventures to join TfS?

As a global chemical company, Indorama Ventures relies heavily on a complex supply chain to source the raw materials and inputs needed to manufacture our products. TfS helps Indorama Ventures ensure that our suppliers meet high standards of sustainability, which helps to mitigate the risks associated with supply chain disruptions and reputational damage.

With TfS’s resources, we can further identify areas for improvement and work with our suppliers to implement sustainability practices. Furthermore, we will be able to improve our Scope 3 calculation and improve our transparency in this area. Overall, these efforts help to ensure that our supply chain is more sustainable and resilient in the long run.

Engaging with TfS

Q Last September, TfS launched the Product Carbon Footprint (PCF) Guideline to drive decarbonisation through the chemical industry and beyond. How will Indorama Ventures implement the TfS PCF Guideline within the company and with its suppliers?

We will use the TfS PCF Guideline to close any gaps in our own Sustainable Supply Chain Collaboration program. Specifically, the GHG Questionnaire which we had developed internally. Once our materials are in alignment with TfS PCF Guideline, we will continue engagement with our suppliers using the upgraded versions.

Q TfS is a member-driven organisation; members drive the TfS initiative forward. How/where does Indorama Ventures see itself contributing to the initiative?

We can contribute to TfS Scope 3 GHG workstream by joining regional teams to develop a harmonised industry-wide guideline and eventually have access to supplier Scope 3 information.