Sustainable Plastics - September/October 2023 - 11

opinion
Planning the path
to carbon neutrality
take into account the following
considerations:
1. Identify clear
interim targets and
immediate actions.
Although achieving carbon
neutrality is a long-term journey,
companies should set clear
goals and actions from day one
to ensure accountability.
For example, at Sabic, we
By Bob Maughon,
Sabic's executive
vice president
of sustainability,
technology &
innovation; chief
technology &
sustainability officer
To achieve carbon neutrality, a comprehensive call to action
and engagement across sectors are essential. As chemical
companies, we need to embrace innovation, risk and
collaboration in ways that challenge current paradigms,
from how we structure our businesses and view intellectual
property to the design and functionality of our products. Most
importantly, we cannot wait for others in different sectors to
advance first before taking decisions and de-risking our future
investments. Taking steps now in concert with sectors, sharing
the risk, is critical.
T
he chemical industry
plays a particularly
important role in creating
building blocks
that can be used across value
chains. For this reason, chemical
companies must take a leadership
role in driving decarbonisation
more broadly. They must
not only adapt their businesses
but also prioritise coordination
and offer transparent insight into
their strategy so others can track
and plan accordingly.
Laying out both short- and
long-term plans for securing
decarbonisation is critical, and
chemical companies should
have outlined our planned
pathways to 2050 in our Carbon
Neutrality Roadmap. For
the first phase of our road map,
which runs until 2030, we set
a goal of reducing our direct
(scope 1) and indirect (scope
2) emissions by 20%, relative
to 2018 levels, with progress
detailed in our annual sustainability
reports. We also detailed
immediate investments, including
those focused on improving
the energy efficiency of our
assets. Electric compressors
and pumps are already being
installed to reduce greenhouse
gas (GHG) emissions, with
long-term plans in place for the
electrification of wider assets.
We are also securing renewable
electricity supplies, including
for our polycarbonate
facility in Cartagena, Spain,
which is set to become the
world's first large-scale chemical
production site to run entirely
on renewable power.
2. Commit to driving
the solutions that don't
exist yet.
Achieving carbon neutrality
will require new technologies
and processes. Companies
must lay out their plans to explore
potential solutions and
must commit to investing significantly
in innovation today.
The second phase of our carcontinued
on page 12
September/October 2023
11
Sustainable Plastics - September/October 2023

Table of Contents for the Digital Edition of Sustainable Plastics - September/October 2023
