Grade B-
ChemScore report card 2023

Indorama Ventures

Indorama Ventures specialises in the production of a wide range of petrochemical and polymer products. The company is headquartered in Thailand but has 147 manufacturing sites in 35 countries around the globe. Indorama Ventures is the world's largest producer of PET resins. Globally, one in five PET bottles is made from the company’s resin. Indorama Ventures is also a global manufacturer of wool yarns, which is how it initially launched its business.
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Total score
27 / 48

Grade summary

Last year’s top-ranked company scores a B- in ChemScore 2023 and ends up in second place. It produces five SIN List substances but no persistent chemicals. However, less than half of the global production is known. Indorama Ventures conducts assessments for potential environmental and health impacts of all its products, which includes a hazard screening, but the company lacks a commitment to exclude hazardous chemicals in new products. Indorama Ventures offers environmentally friendly products and is involved in bio-based raw materials and PET recycling. However, the company has yet to state publicly that PET recycling is without hazardous chemicals. While Indorama Ventures’ target of zero violations of domestic and international regulations and zero use of SVHC substances sounds like firm commitments, dedicated phase-out plans are still missing. Indorama’s circular policy includes KPIs and SMART targets, reflecting progress in biobased and recycled content.

How did we come to this score?

Opportunities for improvements

  1. Reduce hazardous portfolio
    Scientists agree that chemical pollution has crossed a planetary boundary and become an urgent global crisis, threatening both ecosystems and human health. Since Indorama has five hazardous chemicals in its product portfolio, a key improvement point for the company is to reduce this number. Indorama should therefore identify all uses, as well as publish the share of revenue and production volume of hazardous chemicals (or products that contain them). It should also publish a reduction road map of each hazardous chemical together with an annual progression report. Ideally, the company should commit to having a toxic-free product portfolio within the next decade. If the company decides to continue producing a hazardous substance, it needs to present a rationale for its essential use and prove that no feasible alternatives are available at present. In such a case, the company should also state the share of the R&D budget spent on finding a safer alternative for that particular substance.
  1. Commit to phasing out harmful chemicals
    Indorama tracks the substances within its portfolio. But to further advance its commitment to sustainability, the company should publicly commit to phasing out specific hazardous substances as well as designing out harmful chemicals from new innovations. Publicly disclosed phase-out plans with well-defined deadlines not only demonstrate determination but also a genuine commitment to progressing in a sustainable direction by prioritising safer alternatives.
  1. Increase transparency
    Although Indorama has responded to our request for more information regarding the company’s chemicals management, there are still uncertainties regarding the company’s production of hazardous chemicals. At least when it comes to public information. In order to allow a comprehensive global evaluation, the company should therefore make this information public – especially details regarding where the five SIN chemicals are used and which % of revenue these products generate. Generally speaking, information about chemicals sold in the EU and the US is available through public records, which is not the case in other parts of the world.

Category breakdown

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Overall rank
2 / 50
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Total score
27 / 48
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Product Portfolio
6 / 18
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Development of Safer Chemicals
9 / 12
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Management & Transparency
6 / 12
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Lack of Controversies
6 / 6
Company facts
Bangkok, Thailand
18.7 billion USD
Market capitalization
6.9 billion USD
Plastic & Rubber & Fibres
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Other years
Year Rank Total score
2023 2 / 50 27 / 48
2022 1 / 54 30 / 48
2021 1 / 50 29 / 48
2020 2 / 35 27 / 48