European Commission’s recommendations on Strategic Value Chains recognise the importance of the chemical industry

‘Cefic welcomes the new report published by the European Commission Strengthening Strategic Value Chains for a Future-Ready EU Industry’ which recognises the important role of the chemical industry in building a common vision for well-coordinated efforts and investments in Europe. The report identifies six strategic value chains for their potential impact on Europe’s industrial competitiveness.

Out of the six areas outlined in the report, (Connected, clean and autonomous vehicles; Hydrogen technologies and systems; Smart health; Industrial Internet of Things; Low-carbon industry; and Cybersecurity), Cefic is particularly pleased to see that the Strategic Forum includes ‘Low CO2 emissions industry’ as a key strategic value chain for Europe.

Said Marco Mensink, Cefic Director General “The report confirms that the chemical industry plays a key role in many technological developments, markets and cross-sectorial partnerships aiming at drastically lowering CO2 emissions in Europe. Key for the European Green Deal to achieve its objective is attracting public and private funds for these new, low-CO₂ emission technologies”.   

The chemical industry has indeed much to offer as critical technological pathways for the substantial reduction of the industry’s GHG emissions, taking the example of CO2 valorisation, electrification of chemical processes, chemical recycling and hydrogen.

While most of these technologies are emerging from existing Research and Innovation programmes, the Strategic Forum’s report confirms that more work needs to be done to bring these promising technologies at scale and create favourable policy and market conditions for these technologies to become mainstream. No single company or sector will be able to provide the capital for these investments on their own and co-operation between EU Member States continues to be important.

Cefic is one of the members the Strategic Forum for Important Projects of Common European Interest (IPCEI) and together with Dutch Ministry of Economic Affairs and Climate and Eurofer was the Rapporteurs of the Forum’s Task Force on “Low CO₂ emissions industry”.