Towards Net-Zero Emissions

The report outlines critical policy areas needed to transition the chemical industry to net-zero emissions by 2050, emphasizing affordable renewable energy, the recognition of Scope 3 emissions, public funding for high-TRL technologies, and the creation of markets for circular products.

• Renewable energy is identified as the primary enabler for decarbonizing the chemical industry, with a specific need for large quantities of green and blue hydrogen to serve as fuel, energy carriers, and raw materials. To maintain competitiveness, this energy must be available at a globally competitive cost to prevent the relocation of energy-intensive industries.
• The industry argues that current regulatory frameworks, such as the EU-ETS, focus heavily on Scope 1 and 2 emissions, but achieving net-zero requires the recognition of Scope 3 emission reductions. This is particularly important for circular economy initiatives, such as chemical recycling of mixed plastics, which currently receive no regulatory credit for emission savings.
• Public funding is required across the entire technology readiness level (TRL) spectrum, but there is a specific need for support for TRL 7-9 to overcome CAPEX and OPEX constraints and move demonstration projects to industrial scale. The report suggests increasing partnership budgets under Horizon Europe to support this risk-sharing.
• To stimulate demand for low-carbon and circular products, the report proposes a 'climate contribution' to increase economic feasibility and the implementation of sustainability labelling, extended producer responsibility, and minimum sustainability requirements for public procurement.
• Global collaboration is deemed essential to prevent carbon leakage and ensure a level playing field. Specifically, the report calls for the finalization of the Paris Rulebook at COP26, noting that Article 6 could accelerate technology adoption through expanded international carbon markets.
• The chemical industry faces a significant challenge as demand for chemicals and materials is expected to quadruple by 2050 compared to 2010 levels, meaning growth must be decoupled from emissions. Currently, 85% of the industry's 1.5 gigatonnes of emissions are energy-related, while 15% are process-related.

APA

World Economic Forum (2021). Towards Net-Zero Emissions. http://www3.weforum.org/docs/WEF_LCET_Policy_Priorities_2021.pdf

Chicago

World Economic Forum. Towards Net-Zero Emissions. 2021. http://www3.weforum.org/docs/WEF_LCET_Policy_Priorities_2021.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Towards Net-Zero Emissions |date=April 2021 |url=http://www3.weforum.org/docs/WEF_LCET_Policy_Priorities_2021.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2021towards, author = {{World Economic Forum}}, title = {{Towards Net-Zero Emissions}}, institution = {World Economic Forum}, year = {2021}, month = apr, url = {http://www3.weforum.org/docs/WEF_LCET_Policy_Priorities_2021.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }