The idea of sustainability is fundamental to green chemistry, aiming to reduce environmental impacts and conserving natural resources for future generations. It entails designing products and manufacturing processes in such a way so as to minimize adverse effects on human health. 

 

In this context, India's leading chemical industry experts spoke at the session, ‘Exploring green growth opportunities: Solutions & Technologies’ which was held on the sidelines of the 4th edition of Indian Chemicals Council (ICC) Sustainability Conclave held in New Delhi on November 17-18, 2022. 

 

Dr. Sangeeta Srivastava, Executive Director, Godavari Biorefineries said, “The bio-based chemicals are highly sustainable. There is a growing market for such chemicals and huge opportunities for growth. Bio based chemicals were worth US $73 billion in 2020, growing at a CAGR of 10-12%. The growth drivers include new incentives and bio-based products sold worldwide. The growing demand for natural products is based on growing consumer awareness leading to use of ingredients with high Biorenewable Carbon Index (BCI).”

 

“Evolution of green chemistry has to be in sync with sustainable goals. Sustainability must begin at a farm as we don’t produce the agriculture products that are biomass efficient. Investors are looking at sustainable initiatives and products. Markets have become important for sustainability and so are the customers. The economic development agenda will be around sustainability, and therefore, companies will have to prioritize their sustainability initiatives. Innovation has to be beyond regulation and we have to align ESG driven innovation with business and deliver the right value to stakeholders,” added Dr. Srivastava.

 

“Growing urban and middle class means economic growth but at the same time adding to challenges. The de-carbonization and electrification are fast growing as priority areas. The focus is moving to a circular economy along with increased connectivity and data analytics,” said Premal Shah, Sales Leader, Asia Pacific and Country Leader, Chemours India.

 

“Chemours is the largest manufacturer of ion-exchange materials for hydrogen fuel cells and water electricity gases. We have a big focus on green growth solutions and we are working on devising solutions. As we plan to achieve the ESG target by 2030, we have redefined our target to reduce carbon emission reduction to 60%,” added Shah.

 

“Focused on green hydrogenation, our plant runs on renewable energy. We have proprietary technology. Hygenco has received a 22-million pound investment from the SBICAP Ventures managed Neev II Fund.  We deploy scaled-up commercially attractive green hydrogen solutions and plan to build own multiple green hydrogen facilities across the country. Value addition in terms of O2 generation is 1500 Nm3/day,” said Rahul Singh, Vice President -Technology & Engineering, Hygenco.

 

“To break the myths of grey hydrogen, the cost of electricity to every unit is neither high nor low. Also, there is utilization even if there is no merchant sales. Long term contracts don't form the basic model If these are not aligned with the chemical industry’s goals. There is insulation from every price change,” added Singh.

 

Themed as ‘Boardrooms to Community - ESG, Carbon Neutrality, Operational Safety, Greener Solutions’ the two-day conclave broadly focused on the topics such as ESG in Boardrooms: Vision and Strategies for value creation; Decarbonizing the Chemical Sector: Reflections to Actions Product; Stewardship: Going beyond Regulatory Landscape; Unlocking the potential of Digital Transformation for Sustainability; Exploring Green Growth Opportunities: Solutions & Technologies; Leveraging Cleaner Energy Transitions; Safety promotes Sustainability; Embracing Net-Zero Transition: Risks & Opportunities; and Session by UNEP -Plastic Pollution: Strengthening the Role of the Industry.

 

Various speakers expressed their views on climate, sustainable development and the steps that could be taken in this direction. CEOs and representatives of the Indian and global chemical companies, people working in EHS dept. in companies; Central and state government officials, Pollution Control Boards, international multilateral organizations, Global chemical industry bodies and experts from academia and civil society organizations are participating in the event.

 

The annual flagship event is a major initiative of ICC for promoting sustainability in the management of the entire life cycle of chemicals.