Ground-breaking report warns chemicals industry must dramatically transform operations to avoid 4⁰C of global warming – QNT Press Release

  • Ground-breaking study sets out credible pathways for the industry to become an enabler of a sustainable global economy, double in size and create 29 million new jobs
  • The industry can reinvent itself as a climate solution – becoming carbon negative by early 2040s and acting as a carbon sink by 2050
  • Without dramatic and urgent change, the industry aligns with 4 degrees of global warming by 2050 with catastrophic consequences for the planet
  • Building a circular, net zero chemical system will require capital expenditure of over $3 trillion by 2050

LONDON, Sept. 13, 2022 /PRNewswire/ — The global chemical industry accounts for around 4% of global greenhouse gas emissions. It must end its fossil dependency and become a planet-positive force by embracing a more circular, low emissions operating model, according to a major new report from Systemiqthe system change company, and the Center for Global Commons at the University of Tokyo. Without urgent action, the industry faces reputational and regulatory and may lose its social license risk to operate, the report warns.

The Planet Positive Chemicals report (Systemiq, UTokyo) provides an unprecedented blueprint for the future of the chemical industry, which is worth $4.7 trillion dollars in annual revenues(1) and provides the chemicals that are essential to all sectors of the economy from packaging and consumer goods to construction and fertilisers. It says the industry currently has multiple harmful impacts on our planet, including high carbon emissions and pollution, and its action on climate is currently lagging behind other sectors.

The report identifies the need for radical interventions on both…

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