Summary
Cefic’s position paper addresses the European Commission’s public consultation on the EU’s 2040 climate targets, emphasising the critical role of the chemical industry in the transition to climate neutrality by 2050. The paper advocates for a regulatory framework and industrial policy that support long-term investments, infrastructure and operational costs, and tackle competitive disadvantages to secure the necessary investments. Cefic underscores the need for a detailed impact assessment considering investment requirements, energy transition, and the effect of the energy crisis. Additionally, it highlights the importance of a robust carbon leakage framework, a circular carbon economy, and access to carbon removal certificates for hard-to-abate emissions.
Key takeaways
- Support for strategic industries, such as the chemical industry, in their transition towards carbon neutrality
- Mitigate the risk of carbon leakage with adequate measures
- Develop a circular and sustainable carbon economy
- Allow access to carbon removal certificates for industrial installations