Global Chemical Leaders Take Action To Help Reduce Emissions By An Additional 1.4 Gigatonnes Per Year By 2030

GENEVA (23 November 2015): Five leading global chemical companies have agreed on a set of ambitious actions that can reduce emissions by an additional 1.4 gigatonnes per year by 2030.

• Akzo Nobel N.V., DSM N.V., Evonik Industries AG, Mitsubishi Chemical Holdings Corporation and Solvay S.A. join forces to help deliver this ambition.
• The program is part of WBCSD’s Low Carbon Technology Partnerships initiative (LCTPi) that brings together over 140 businesses and 50 partners to accelerate the development, deployment and scale up of game-changing low carbon technologies for ambitious emissions reductions.

Akzo Nobel N.V., DSM N.V., Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, and Solvay S.A believe that global sustainability challenges – including emissions reductions – can only be met through advanced innovation and faster deployment of solutions at scale. A continuous strive for efficiency gains will also be critical in ensuring the transition to a low carbon world.

Chemical products serving key sectors like buildings, automotive, packaging and food, have the potential to unlock an additional 1 gigatonne of CO2e savings per year by 2030.

Within the framework of LCTPi, these leaders have come together to agree on possible advances through breakthrough technologies and products from the chemical sector. They have found that new breakthrough technologies can bring up to an additional 0.4 Gt CO2e reduction per year in chemical industry’s emissions by 2030, on top of anticipated efficiency gains.

President & CEO of WBCSD, Peter Bakker said:

“As an industry of industries, the chemical sector plays an important role in spurring low carbon growth. These five global leaders are a vanguard of the chemical industry. Meeting the ambitions they have set across their sector and its value chains can contribute significantly to global emissions reductions in other sectors. I call on other forward-looking companies to join this initiative and collaborate to bring those actions to life.”

Akzo Nobel N.V., DSM N.V., Evonik Industries AG, Mitsubishi Chemical Holdings Corporation, and Solvay S.A have agreed to work with others to scale up sustainability solutions and will compete on sustainability performance through consistent measurement and trustworthy communication of key sustainability indicators for chemical products.

The companies will intensify R&D, deepen their understanding of the abatement potential of new technologies, and forge new alliances to help stimulate the mainstreaming of these technologies across the wider industry.

Re-published from MySocialGoodNews.com as part of CSRlive’s collaboration with Your Mark On The World