1、The chemical industrys road to net zeroCosts and opportunities of the EU Green DealThe chemical industrys road to net zero:Costs and opportunities of the EU Green Deal2ForewordOur European chemical industry was one of the first sectors to come out in support of the European Green Deal and Europes am

2、bition to become climate neutral by 2050.Knowing the direction,we now need to turn the“what”into the“how.”Better understanding what we need to do in the coming years is the basis to develop the solutions and pathways allowing chemical production in Europe to become climate neutral,digital and circul

3、ar,and meet the objectives of the chemical strategy for sustainability by 2050.The assessment of impacts has always been a key prerequisite for sound policy making.In the field of climate and energy,most of those impact assessments are based on macroeconomic modeling.But the agreement on the EU Clim

4、ate Law has now emphasized the importance of looking with greater attention at individual sectors and regional and site-specific solutions as there will be no single silver bullet or one size that fits all.There is a clear need to start sector-specific climate dialogues to understand better the nece

5、ssary investments toward the transition to a climate-neutral economy.We therefore greatly appreciate the work conducted by Accenture and NexantECA.Such in-depth research can help to build a picture of the investments required and the financing gaps,how essential chemical products can be expanded int

6、o carbon-neutral and renewable applications in the future,and the cost competitiveness of European industry on a global scale.These are vital considerations as our sector prepares for the biggest transformation in its history.We want to see our European chemical industry lead the transition globally