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.
Towards low carbon and bio-based
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.
Transforming towards sustainability presents challenges and opportunities
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?
How PwC can help you
We can help you with various aspects of a successful transformation:
- Drawing up or revising the transformation strategy with objectives, milestones and KPIs.
- Assessing or drawing up concrete business cases for investments in energy supply, new products or processes. To this end, we combine knowledge of the market, financial modelling, subsidies and tax regulations.
- Advice on performance & impact measurement and management reports so as to steer the transformation towards objectives.
- Advice on the social and sustainability annual report, and checking this as well.
- Organizational advice to attain to the desired sustainable corporate culture.
Contact us
