Industry giants BASF, Sabic, Covestro, Clariant, LyondellBasell, Mitsubishi Chemical Group and Solvay have founded the Global Impact Coalition, an initiative to help the chemical industry transition to net-zero.
The CEO-led project started off as the Low-Carbon Emitting Technologies (LCET) initiative. It is a spinoff of the World Economic Forum, which incubated it for more than three years before launching as an independent legal entity. It will focus on accelerating the development and upscaling of low-carbon technologies for chemical production and related value chains, including plastics manufacturing.
“I see immense potential in reshaping the chemical industry's impact on our planet,” said Charlie Tan, Global Impact Coalition’s CEO. "One of our goals is in forging new pathways to achieve this, through collaboration, business model transformation, and solid partnerships that create true value in our drive to a net zero future.”
Promising to cut the talk and show "more results," the coalition will incubate projects with a proven approach to advance the industry towards net-zero, including a research and development hub for plastic waste processing in collaboration with TNO, a Dutch research organization.
The partnership between Sabic, BASF and Linde to develop the world’s first demonstration plant for large-scale electrically heated steam cracker furnaces is also part of the coalition’s plans.