Exciting strides are being made in the chemicals industry with the formation of the Global Impact Coalition (GIC). This initiative is poised to be a game-changer, bringing together stakeholders to explore low-carbon solutions. GIC isn't just another forum; it's a catalyst for innovation and collaboration. Through on-the-ground projects and unconventional partnerships, they are set to lead the charge in reducing CO2 emissions across value cycles. Working toward a more sustainable future, GIC has the potential to revolutionize the chemicals sector, creating a positive impact on our environment and the industry's trajectory.
Decarbonizing chemicals is critical to the fight against climate change and collaboration is a powerful tool. The industry generates about 2% of global CO2 emissions, but it consumes 14% of all oil and 8% of all gas supply as feedstock and fuel and is, therefore, one of the largest consumers of fossil carbon supply for material use. It affects most other industries too, as more than 95% of all manufactured goods involve chemical products. The industry has been pursuing four paths to decarbonization: transformation to low-carbon products, circular products, all-natural materials and biodegradable materials.
https://www.weforum.org/agenda/2024/01/chemicals-closer-to-decarbonization/
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