Chemicals sector faces transition dilemma
Transitioning to low-carbon is complicated but represents huge opportunities for the sector, says new report
The chemicals sector could grow annual production by a factor of 2.5 by 2050 while still being aligned with the goals of the Paris Agreement, according to a study by consultancy Systemiq. But the sector is lagging on its commitments to decarbonise and is expected to be one of the slowest industries to transition. “The chemicals industry is a complex industry—there is a lot of different parts and processes to it,” report co-author Alexandre Kremer tells Transition Economist. “It is not easy for regulators to get moving and find consensus.” The chemicals sector represents just under 4pc of the 59gt of annual global greenhouse gas emissions. If the industry continued to scale up at its current

Also in this section
30 November 2023
Negative pricing has become more frequent in European energy markets, and GB markets are now experiencing a similar increase
29 November 2023
Preparations underway for inclusion of cement, aluminium and steel producers in world’s largest compliance market by 2030
28 November 2023
European Commission earmarks cross-border projects for funding and fast-tracks carbon management strategy as pressure grows to kickstart CCS sector
27 November 2023
Progress in decarbonisation but significant challenges lie ahead