In this follow up to our most recent edition of The ERM Sustainability Institute’s annual Trends Report, we explore the sustainability issues and trends shaping the business agenda from the perspective of the chemical sector.
This briefing focuses on the four key sustainability trends that we believe are set to shape the industry in the next few years:
- Intensifying external pressure demands a strategic answer
- Push for more green chemicals and accelerated reduction of harmful waste
- ESG demands and geopolitical turmoil force supply chains into a complex overhaul
- Time to commit to the next phase on the road to Net Zero
The ESG risks and opportunities facing the chemical sector are striking. The industry is facing the enormous task of rethinking its production process, from the inputs it uses and green product innovation, to community engagement and reducing future and existing waste. Additionally, external pressure from regulators and investors to consumers and corporates is on the rise, while geopolitical issues are exposing vulnerabilities in value chains at a time when companies need to embed high ethical standards into their current operations.
The chemical industry needs to bring all hands on deck to overcome the obstacles outlined in this briefing. Chemical companies must put sustainability front and center to radically innovate product portfolios, phase out controversial products, get serious about community engagement and equity, transition to circular economy practices, and build sustainable resilient, transparent, and traceable value chains.
Learn more about each of these four sustainability trends in the briefing, where we explore recent developments, future advances, potential impacts, and recommendations for companies in the chemical sector.