World Economic Forum relaunches net-zero chemicals industry initiative
The CEO-led chemical industry initiative, incubated by the World Economic Forum, has been relaunched as the Global Impact Coalition (GIC).
The GIC will continue the goal of previous Low-Carbon Emitting Technologies (LCET) initiative in driving the global chemical industry to net-zero emissions by 2050.
The chemical industry provides essential materials, technologies and building blocks for 95% of all manufactured goods.
The new standalone Coalition has been created by seven founding member chemical companies and is supported by more than 70 senior industry executives.
Founders include BASF, SABIC, Covestro, Clariant, LyondellBasell, the Mitsubishi Chemical Group and Solvay.
GIC will continue the demonstration projects led by LCET including the R&D hub for plastic waste processing and a novel electrically heated steam cracker furnace.