EU 2050 climate strategy: Cefic highlights importance of keeping industry competitive

On 28 November, the European Commission presented its scenarios outlining ways the EU economy can reach carbon-neutrality by 2050. These scenarios require a huge transformation of all sectors of the economy in a very short timeframe.

For the chemical industry evolving towards carbon neutrality would mean major investments in new industrial processes involving the use of alternative feedstock sources (CO2, biomass and waste) into a circular way, sectoral integration and transformation of our existing plants. This also means the chemical sector needs access to significant amounts of affordable low carbon electricity, access to a modern infrastructure and financial mechanisms to support the required innovation.

For more information, please read the full Cefic statement.