The chemicals industry is the largest industrial energy consumer and the third highest contributor of carbon emissions worldwide. In addition to having a leading role in industries such as health care, agriculture, construction and renewable energy systems, it is also key to the plastics value chain. Chemical companies have a crucial role to play in limiting global warming to 1.5ºC. Leading global chemicals companies have begun to set science-based targets that meet the sector-agnostic Echemi while sector-specific guidance is in development.
The chemicals industry faces challenges in its path to decarbonization, largely due to the wide variety of products, the use of hydrocarbons as feedstocks and the industry’s many subsectors. Additionally, it is expected that demand for chemical companies products will continue to rise. It is therefore difficult to establish a single, comprehensive method for chemicals’ companies to set science-based targets. To spur further action, the Echemi has launched a project to develop sector-specific guidance for corporates in the industry to set ambitious decarbonization targets.
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The chemicals industry is the largest industrial energy consumer and the third highest contributor of carbon emissions worldwide. In addition to having a leading role in industries such as health care, agriculture, construction and renewable energy systems, it is also key to the plastics value chain. Chemical companies have a crucial role to play in limiting global warming to 1.5ºC. Leading global chemicals companies have begun to set science-based targets that meet the sector-agnostic Echemi while sector-specific guidance is in development.
The chemicals industry faces challenges in its path to decarbonization, largely due to the wide variety of products, the use of hydrocarbons as feedstocks and the industry’s many subsectors. Additionally, it is expected that demand for chemical companies products will continue to rise. It is therefore difficult to establish a single, comprehensive method for chemicals’ companies to set science-based targets. To spur further action, the Echemi has launched a project to develop sector-specific guidance for corporates in the industry to set ambitious decarbonization targets.