Industries need to better understand how to respond to environmental change.
Sustainability is here to stay. It’s already unprecedented in the degree of change it has produced, touching all elements of corporate value creation. The industry is facing several challenges. The transition towards a circular economy and achieving climate neutrality are two areas of great importance. We also make sure that our products are safe while contributing to driving the transition of our society.
Being at the forefront of innovation, such as in recycling materials or biomaterials, will be a key differentiator going forward.
The chemical industry is the hidden climate hero, we are a key enabler for the decarbonization of many other industries. The chemical industry is possibly the most integrated one, as much as 96 percent of everything that is produced needs chemicals! And as we overcome the challenges and chemical products become more sustainable, there is a huge multiplier effect.
Safeguard Value and Manage Risks
Continuing to improve ROIC and driving a value creation program remain key to meeting investors’ expectations. With regard to sustainability, it is crucial for us to recognize and proactively manage potential sustainability risks, such as increasingly stringent regulations and asset devaluation, as well as any foreseeable decrease in demand in certain product or end-market groups
We have fact-based emissions reduction targets in place, such as those founded on science-based target initiatives—ideally with a goal of reaching net-zero emissions In the beginning, cutting emissions often seems easy because quick wins exist, but getting to net-zero emissions will be difficult and require very real and very tough choices.
New value pools, regulations, and other tailwinds creating opportunities will arise quickly. We simplify decision making and create an agile way of working to react to changes faster than the competition. If opportunities arise, we position a cross-functional team to drive fast execution far beyond business-as-usual processes.