MUMBAI: SABIC’s brand value has increased by 9.3% to US$ 4.33 billion in 2020, according to the independent brand valuation consultancy, Brand Finance. This reflects the growing positive perception of SABIC and its purpose of delivering Chemistry that Matters™ for its customers and other stakeholders.
With the 2020 valuation, SABIC has now entered the list of top 500 global brands. According to Brand Finance, the SABIC brand has grown consistently year on year over the last six years, doubling in value since 2014.
Sami M. Al-Osaimi, Vice President, Corporate Affairs, said: “We believe that the SABIC brand is directly linked to our ambition to become the preferred world leader in chemicals while bringing economic value as well as maintaining our sustainability momentum. The increase in brand value is a result of our clear brand strategy and a coordinated global effort across our businesses and corporate functions to consistently bring our brand to life in everything we do.”
Richard Crookes, Director, Global Brand & Marketing Communications, commented: “Our strong brand valuation bears testimony to our collective efforts within SABIC to work continuously towards a more sustainable way of doing business to drive growth for our customers and other stakeholders. It is a clear confirmation that our purpose ‘Chemistry that Matters™’ and our brand commitments resonate well with our stakeholders.”
In 2019, SABIC launched its first-ever global brand advertising campaign in a strategic effort to raise the company’s awareness, understanding, and engagement with global influencers as a part of its 2025 ambitions. The ongoing campaign shows how SABIC collaborations respond to global challenges with Chemistry that Matters™. Its themes of urbanization, food and water, sustainability and energy efficiency reflect SABIC’s commitment to sustainable innovation and growth.
Moreover, SABIC won three awards last year in recognition of its effective CSR strategy. Ecovadis, a provider of business sustainability ratings, ranked SABIC in the top 1% of best CSR and Sustainability performers. SABIC was also the only chemical company to win the Public Welfare Practice Contribution Award from Yicai Group in China. In addition, SABIC won the Communities & Reputation award at the 2019 NEPIC Industry Awards in the UK.
All of these efforts have contributed to the strength of SABIC as a brand, thereby culminating in the growth of its 2020 brand value. Brand Finance utilizes a bespoke methodology to determine the brand value of a company. Factors considered include stakeholder familiarity and satisfaction and forecasted business performance.
There is also a link to an image from the brand campaign – here: https://app.box.com/s/vrqxs0wclp2ivkjajyh2nksze283hnd6
