Operationalizing climate goals: With ambitious net-zero targets already in place, today’s companies are focusing on operationalizing their medium-term goals (2030/2035). Early implementation of decarbonization initiatives will be critical to meeting net-zero targets by 2045/2050.

Tailor-made climate transition plans: Decarbonizing chemical companies is a complex undertaking that requires solutions tailored to each company’s specific needs.

Tracking and reporting: Carbon accounting is a basic requirement and a cornerstone of any decarbonization strategy.

Overcoming market constraints:To switch from fossil fuels to sustainable/ renewable energy sources, companies will have to address volume constraints and cost challenges.

Sourcing green energy: The security and viability of the energy supply is the key to getting the balance right between domestic production and imports of green electricity as well as derivatives such as hydrogen and ammonia.

Building new ecosystems: Supply chain/ infrastructure management is a key issue to address now, including novel partnerships.

Minimizing material use and waste: This is vital for plastics producers in particular, but also part of ongoing efforts to increase operational efficiency across the entire industry.

Developing recycling systems: Optimizing the portfolio of mechanical and chemical recycling systems, including mass balance approaches.

Addressing stakeholder expectations: Responding to increased public awareness (e.g., about plastics in the ocean) and customer pressure.

Establishing circular business models: The added business value of circular economy practices makes products more attractive and more viable.

Developing new materials: On the feedstock side, the transition involves developing and deploying new raw materials (e.g., bio-based, circular).

Deploying advanced materials: Product-wise, advanced materials are a key factor (but not the sole factor) in a successful energy transition strategy.

Design with purpose: Developing materials that excel in both performance and sustainability will help manufacturers meet new end-user expectations.

Managing environmental impacts: Identifying and factoring in the impact on nature when sourcing renewable raw materials (e.g., palm oil).

Protecting ecosystems: Minimizing the negative impact that industrial activities and products have on biodiversity and nature (e.g., microplastics).

Managing climate risks: Managing climate risks (e.g., flooding and extreme weather events) to ensure safe and reliable production.