An increase in reliance on coal for power generation impacts the Scope 2 emissions across the industry, as Scope 2 pertains to indirect emissions from purchased energy such as electricity.
This will heighten the importance in the near-term in reducing emissions from direct operations (Scope 1)—and especially from the upstream supply chain (Scope 3), which is the origin of about 65% to 95% of a product’s carbon footprint.
Energy security concerns are also increasing investment in alternative energy sources, such as biofuels and chemical recycling. As part of the event, ICIS experts Helen McGeough, and Mark Victory will be presenting ‘Chemical recycling – future star or black hole?’, exploring how infrastructure and regulation are still the key barriers to industry hitting circularity targets and how waste shortages are re-writing chemical recycling economics.
At the same time, high energy costs are disrupting European chemical and polymer supply and demand dynamics, making forward planning a significant challenge. At the seminar, ICIS will outline raw material supply and demand growth outlooks, alongside the opportunities for producers, converters and brand owners to lower their Scope 3 emissions.
Buyers and sellers will need to adapt to a marketplace increasingly hostile to fossil fuels. Companies able to achieve low CO2 equivalent emissions and circular feedstocks will find vast opportunities to both profit for themselves and the wider society on a global scale.
Find ICIS in Hall 8a, stand C20.