The business of chemistry is driving innovations that are leading to sustainable solutions for our planet.
In this day and age, sustainability is a part of doing business. What most people may not realize is that the chemical industry is the foundation of sustainability for many other industries, including medical equipment, pharmaceuticals, building materials, automotive, toys, agriculture and food packaging. The business of chemistry is constantly innovating to further reduce its environmental footprint, and our industry also provides sustainability solutions for many other industries.
Innovations in chemistry are critical to combatting climate change. The products and advances of chemistry make homes and buildings more energy efficient; cars and airplanes lighter, faster and more fuel efficient; and renewable technologies like wind turbines, solar panels and batteries more viable as alternative energy solutions.
"The chemical industry holds the key to unlocking climate strategies across the industrial manufacturing value chain," said Paul Harnick, principal, global head of chemicals and performance technologies for KPMG.
To summarize Harnick's quote, we make sustainability possible.
The business of chemistry places great importance on sustainability, and our industry is a world leader in protecting and improving the environment. A study by the ARC Advisory Group reported that 90 percent of global energy and chemical companies have sustainability initiatives in place. Many companies in our industry have made net-zero goals and/or carbon capture commitments, including BASF, ExxonMobil, LyondellBasell, Eastman, Air Products and more. In the foreseeable future, the business of chemistry will be the bridge between heritage energy sources and a green economy.
Our industry has made major investments in initiatives like the Alliance to End Plastic Waste to promote a circular economy for plastics by 2050 through utilizing new advanced recycling technologies. The goal is to achieve a circular economy that will convert end-of-life consumer products into raw materials that can be remanufactured by industry or recycled into new products.
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Industry is also investing in green energy technologies such as wind, solar and battery storage. Not to mention that the components that make up the equipment used to harness renewable energies consist of materials produced by our industry. There has also been significant investment in technologies that will capture carbon emissions to make oilfield recovery more efficient or have it sequestered by injecting the carbon into underground formations miles beneath the ocean floor.
Sustainability is a complex issue because it needs to encompass the entire supply chain from manufacturers to downstream customers. Manufacturers are increasingly using more recycled and renewable feedstocks to make products, and customers are demanding recycled materials. There is also enormous potential for advanced recycling in achieving a circular economy for plastics. As consumers increasingly prioritize sustainable products when it comes to their buying preferences, chemical manufacturers are trying to increase their visibility as a vital part of the solution.
A recent survey and focus group research that were commissioned by the American Chemistry Council (ACC) revealed that voters are largely unaware of what industry is doing to protect the environment and combat climate change. When told about some of what industry is doing, focus group participants welcomed the effort and wanted to hear more about sustainability efforts and innovations. This is an incredible opportunity to socialize how chemistry is essential to both sustainability and protecting our climate. Our new Communications Toolkit on the TCC and ACIT websites have resources to help members share this story with key stakeholders. I hope that you will utilize these resources and provide us with feedback from your engagement with community stakeholders and elected officials.
There is much more to be done, but this is a fascinating time for our industry to shine as we develop new innovations that can help us realize a circular economy and help sustain our planet for many generations to come.
For more information, visit www.texaschemistry.org or www.acit.org, or call (512) 646-6400.
