PODCAST: Europe’s low carbon drive could revolutionise chemicals

BARCELONA (ICIS)–Low carbon legislation in Europe, due to be published this week, has the potential to revolutionise the region’s chemical industry.

• Drive to low carbon will move chemicals to local, small scale production and recycling- Shift to low carbon could open up massive new markets for chemicals
• Carbon border adjustment mechanism (CBAM) will make charge for energy-intensive products crossing EU border from countries with lower emissions regulations
• CBAM may replace EU Carbon Trading System
• CBAM is part of Fit for 55 package which has legislation to help meet zero carbon target
• Chemicals, refining not included in CBAM
• Electric vehicles will replace conventional very rapidly
• Oil refining is now in terminal decline
• Selling services will become as important as selling materials for chemical companies

Will Beacham interviews Nigel Davis and Paul Hodges, chairman of New Normal Consulting.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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