The chemicals industry is one of the world’s largest industrial sectors, worth €3,471 billion in 2020. It includes producers of industrial chemicals, polymers, pesticides, food and feed additives, and cosmetics, and is growing rapidly. By some estimates it will reach almost $22,000 billion by 2060.
However, an even greater opportunity awaits the sector if it can integrate sustainability at the core of its operations. This article on CHEManager International, EFESO Management Consultants will delve into the pivotal role of sustainable practices and products in unlocking substantial business benefits for the chemicals industry.
Sustainability has been a longstanding focus in the chemicals industry, with companies addressing topics such as safety, risk management, and environmental impact. Unlocking the potential of sustainability offers significant advantages. Many innovations, such as electric vehicles and smart buildings, heavily rely on the innovative materials produced by the chemicals industry. Neglecting sustainability can result in high costs, including fines, lost sales, and reputational damage.
Beyond financial gains, a sustainable and socially responsible business cultivates a positive reputation. The ability to attract and retain talent, particularly among the environmentally conscious younger workforce, becomes a competitive advantage. Major retailers are also increasingly demanding products free from toxic chemicals to cater to the growing base of environmentally aware consumers and enhance their chemicals policies and practices.
In this article, you will discover a client success story that exemplifies the transformative power of sustainability. OQ Chemicals, a global leader in oxo chemicals, partnered with EFESO to define and implement a structured roadmap for reducing their greenhouse gas (GHG) emissions and at the end achieved significant progress within a short span of four months. To read the full article visit Sustainability and the Chemicals Industry | CHEManager (chemanager-online.com)