Energy transition: Achieving net-zero by 2050
The process of energy transition presents a monumental challenge and an incredible opportunity, as the world seeks to reduce its dependence on fossil fuels. At the heart of the energy transition lies the chemical industry. On one hand, the chemical sector is vital to enabling sustainable solutions like the production of clean energy technologies, and minimizing food waste, therefore significantly reducing CO2 emissions. On the other hand, the chemical sector is very energy intensive. It is the largest industrial energy consumer and the third largest industry subsector in terms of direct CO2 emissions1, making it hard-to-abate.
Beyond direct emissions, the industry faces a significant challenge tackling "Scope 3" emissions. These emissions account for half of its total emissions and include all activities along an organization's value chain or its assets. These emissions are also the most difficult to address.
Recent global commitments and ongoing discourse paint a clear picture: embracing sustainability is no longer a choice, but the essential path for the chemical industry's survival and contribution to a cleaner world. This demands innovation and decarbonization within the industry, while it simultaneously develops the very solutions for a greener future. With rising pressure on industries globally to comply with climate abatement targets in the run up to the mid of the century, GPCA has invited two industry experts to address the contentious issues surrounding the climate debate and the speed and scale at which chemical firms can enact change within their own products and operations, while continuing to deliver the vital materials that the world needs.
Dr. Shihab Elborai, Partner, Strategy& Middle East, joins Mohamed Zaman, Sr. Committees Affairs Specialist, GPCA for this episode of the GPCA Podcast to address these issues and much more.
For more podcasts and the latest insights on the regional chemical markets, visit www.gpca.org.ae/thought-leadership
The process of energy transition presents a monumental challenge and an incredible opportunity, as the world seeks to reduce its dependence on fossil fuels. At the heart of the energy transition lies the chemical industry. On one hand, the chemical sector is vital to enabling sustainable solutions like the production of clean energy technologies, and minimizing food waste, therefore significantly reducing CO2 emissions. On the other hand, the chemical sector is very energy intensive. It is the largest industrial energy consumer and the third largest industry subsector in terms of direct CO2 emissions1, making it hard-to-abate.
Beyond direct emissions, the industry faces a significant challenge tackling "Scope 3" emissions. These emissions account for half of its total emissions and include all activities along an organization's value chain or its assets. These emissions are also the most difficult to address.
Recent global commitments and ongoing discourse paint a clear picture: embracing sustainability is no longer a choice, but the essential path for the chemical industry's survival and contribution to a cleaner world. This demands innovation and decarbonization within the industry, while it simultaneously develops the very solutions for a greener future. With rising pressure on industries globally to comply with climate abatement targets in the run up to the mid of the century, GPCA has invited two industry experts to address the contentious issues surrounding the climate debate and the speed and scale at which chemical firms can enact change within their own products and operations, while continuing to deliver the vital materials that the world needs.
Dr. Shihab Elborai, Partner, Strategy& Middle East, joins Mohamed Zaman, Sr. Committees Affairs Specialist, GPCA for this episode of the GPCA Podcast to address these issues and much more.
For more podcasts and the latest insights on the regional chemical markets, visit www.gpca.org.ae/thought-leadership
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