ChemistryCAN create low-carbon solutions
Chemicals play a major role in the production of renewable energy and in enabling other sectors to reduce their carbon footprint
The European Union has ambitious goals to address climate change by moving toward a low-carbon economy – one that will minimise emissions of carbon dioxide (CO2) and other greenhouse gases (GHGs). However, achieving the EU’s target GHG reductions of 80-95% by 2050 will take considerable advances in products, materials, production processes and services across all sectors.
We continue to work hard as a sector to change to low-carbon chemical production and products. By investing in research and innovation, the chemical industry is developing breakthrough technologies and essential molecules that improve our own and others’ energy efficiency. And we increasingly make use of low-carbon energy sources and alternative feedstock.
The chemical industry provides solutions for achieving major energy savings in many value chains, with benefits in CO2 emission reductions and improved carbon productivity.
A recent (2017) analysis by Accenture on the circular economy calculated that by 2030 it will be feasible to achieve a 20-fold increase in energy efficiency from today’s baseline, through enabling technologies delivered by the chemicals industry. Major contributions would include helping to increase the durability of goods, facilitating the sharing economy, and increasing energy efficiency.
While the potential is huge, it’s also clear that the capital expenditure required will be significant, and a clean, low-carbon future will rely on widespread collaboration.