The proposed size of the €750 million recovery fund, which is set to include €500 billion in grants and €250 billion in loans, will be an important part of the discussion, providing the parameters to help member states find their way out of the pandemic-related recession and set sustainability goals for the future.

As could be expected, every EU member state, every industry and every NGO has its own agenda and is hoping to carve a piece of the savory €750 billion recovery pie for itself. As a solutions provider, he chemical industry will have an important role to play in reshaping the economy and, hard hit by the pandemic, hopes to reap some of the benefits itself.

A special focus of Friday’s debate, which is expected to spill over into Saturday, will be Europe’s digital and green future.

Introducing plans for a European Green Deal, similar to the Green New Deal proposed for the US, early this year, new Commission president Ursula van der Leyen called for proposals on implementing a Chemical Strategy for Sustainability. This has drawn lively attention from industry and NGOs as well as the European Parliament.

CEFIC has priorities for recovery package

Ahead of the Friday meeting, the European Chemical Industry Council (CEFIC) urged EU member states to quickly agree a recovery plan to restart Europe’s economy and kick off investments toward a “green and digital transition.” The package could transform the Covid-19 crisis into an opportunity to build a more resilient European economy while delivering on the European Green Deal objectives, said Marco Mensink, CEFIC’s director general.

As the EU recovers from the pandemic and transitions to a greener economy, new investment in collection, sorting and recycling of waste will help reduce its dependence on strategic secondary raw material imports and promote innovative technologies that will accelerate the transition to the circular economy, Mensink said.

As a solutions provider, CEFIC believes the chemical industry can contribute its expertise to new projects in building renovation, clean mobility, clean hydrogen, chemical recycling, carbon capture and storage (CCS) and carbon capture and utilization (CCU), while at the same time strengthening its European production capacity.

But this will only be possible, the association stressed, if the EU develops a strong and competitive industrial strategy. To this end, European chemical producers plan to carefully monitor what impact the Commission’s chemicals sustainability strategy has on their business model.

The European Parliament (EP) has also presented its own blueprint for the EU’s sustainability strategy, emphasizing “green” innovation with a focus on research and attention to the potential for harmful chemicals in recycled products, as well as closing the close regulatory gaps in the REACH chemicals legislation.

Both CEFIC and the EP have welcomed the new EU4 proposed Health program that supports the relaunch of the European production of Active Pharmaceutical Ingredients (now largely based in China and India) and strengthens procurement of vital medicines, medical devices and Personal Protective Equipment (PPE)