Green energy solutions must be profitable in petrochemical industry

The world's largest petrochemicals producer Saudi Basic Industries (SABIC)'s CEO, Mohamed Al-Mady, said here Wednesday that implementing sustainable and green solutions in the petrochemical industry can only make sense if they generate enough money to cover the costs. Speaking at the seventh annual forum of the Gulf Petrochemicals and Chemicals Association (GPCA), Al-Mady said that there are a lot of ways to implement profitable green solutions. "Making sustainable solutions profitable can be done by reducing costs through saving energy or by reducing the water consumption," said Al-Mady. In relation to product, Al-Mady said that SABIC was doing research for developing lighter plastic which has the same stability like similar products with higher weight. "At the end of the day, these ideas all have to bring money," said Al-Mady. Earlier in the day, SABIC said in the report that it established environmental performance targets for reductions in greenhouse gas, energy, water, and material loss intensity in all its operations.