Climate change and scarcity of raw materials constitute one of the megatrends exerting tremendous influence on the chemical sector. Chemical companies, which are usually part of energy-intensive industry, particularly use fossil fuels, as a result of which their greenhouse gas emissions are high. Furthermore, products themselves are often based on fossil fuels and are CO2-intensive, or toxic and therefore harmful to the environment.
There is mounting pressure on the chemical industry from authorities to reduce greenhouse gas emissions and environmental impact, manifest in the Paris Climate Agreement, revisions to the EU Emissions Trading System (ETS) and national measures. Chemical companies must transform their energy supply, processes and products to low carbon, often bio-based as well. Thus ensuring that the industry will also be contributing towards fostering a circular economy.
This issue of transformation towards sustainability entails a great many strategic, financial-economic and operational challenges. However, it also presents opportunities for companies to innovate and distinguish themselves from competitors. Do you have an idea as to how you will engage in this transformation?
We can help you with various aspects of a successful transformation:
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