Summary
The document addresses concerns regarding the European chemicals industry’s transition towards sustainability amid increasing environmental regulations and competitive pressures. Cefic, the European Chemical Industry Council, argues that while it supports the EU’s Green Deal and the ambition to achieve climate neutrality by 2050, the industry faces significant challenges. Key arguments include the need for substantial investment in innovation and sustainable processes, the potential risk of losing global competitiveness due to stringent regulations, and the necessity for supportive policies that foster a favourable investment climate.
Concrete Takeaways
- Investment in innovative and sustainable technologies is critical for the chemicals industry to meet EU environmental goals.
- Excessively strict regulations may undermine the global competitiveness of the European chemicals sector.
- Supportive policies and a favourable investment climate are essential for facilitating the industry’s transition to sustainability.