Germany, as one of the major chemical manufacturing nations, has committed to achieve this goal by 2050. But companies need to translate this industry vision into their specific context.
System changes of the scale of CO₂ neutrality for a whole industry sector require a new mindset. Major transformations command long lead times and require consistent and persistent follow-through. It is all but clear whether enough value is created to justify the huge investments and how new value generated is distributed among critical players and investors.

CHEManager asked executives and industry experts to share their opinions on this industry transformation, which is a multi-stakeholder challenge and comprises economical, technical, societal and political aspects. We proposed to discuss the following aspects:

• What is your strategy / timeline to become carbon neutral and what are the key challenges on the path to achieve this goal?
• What political / regulatory mea­sures are needed to encourage companies to invest in carbon neu­tral technologies?
• What economical / societal benefits do you expect or hope for by decarbonizing your business?
• How do you plan to involve external stakeholders critical for achieving CO₂ neutrality?

Mark Williams:  While we support the EU Green Deal and transitioning toward a climate-neutral and fully circular economy, a collabo­rative approach between the private and public sector is needed to reach this ambition.
Alongside others, we want to work with the EU to create a level playing field. Access to affordable renewable energy and a reliable supply are key enablers of decarbonization, and both supply and public infrastructure continue to be a challenge. To accele­rate our transition, we are pursuing a number of low carbon options including the development of a 100 MW solar plant to pow­er our operations in Cartagena and we are investigating further opportunities for electrification across Europe — but on-site solutions are not always practical or possible. There is a role for industry to play in working with policymakers to ensure the right resources are in place.
In many cases, current energy efficiency initiatives and technologies are reaching their limit and investment is needed to research, develop and deploy new solutions. Policy reform is needed to drive and support innovation, and public demand for low-carbon and circular products is essential.
If policies like the ETS could account for all emission reduction savings including scope 1 from direct emissions, scope 2 from renew­able resources and scope 3 from chemical recycling — or the cap was adjusted — industry would be more open to taking risks and revenues could be recycled to offset the cost of developing or introducing carbon-neutral technologies. In turn, Europe would be able to maintain its competitiveness and technological leadership throughout the world. Care is required with EU protective measures like carbon pricing schemes and border adjustment measures as they can have unintended consequences that further limit our ability to be competitive.
We will continue to invest in low-carbon-emitting technologies, but time is short and collaboration is vital. We are working with CEFIC to ensure that we achieve the goals of the EU Green Deal in parallel with growing our business in Europe and demonstrating global leadership. The challenge is too great for one company or organization; we work together to make a climate-neutral future happen.