Indian Chemical News (ICN) is organising a session on Net Zero and Decarbonisation Preparedness during its 3rd Edition of the NextGen Chemicals & Petrochemicals Summit on July 13-14, 2023 at Hotel Novotel, Mumbai International Airport, Mumbai. The main theme of the Summit is "Innovation, Self-reliance & Sustainability”. The session will be held on July 13, 2023.

To be moderated by Ashish Kulkarni, Partner & Associate Director, BCG, the session will see experts such as Zarir Langrana, ED & President - Global Chemicals Business, Tata Chemicals; Vikram Handa, Managing Director, Epsilon Carbon; Mukund Vasudevan, Managing Director, Moglix; Raju Kapoor, Director - Public & Industry Affairs, FMC India; Sunita Sule, Director – Country Development & Government Relations, BASF India; and Dr. Parvathi J. R., Assistant Director - SIRAC and Co-Director, Centre for Sustainable Development and Climate Action discussing the ways to achieve net zero.

Global chemical industry needs to play an important role in achieving net-zero emissions and decarbonization. Chemicals, as one of the largest industrial sectors globally, is responsible for a considerable share of greenhouse gas emissions (GHG), including carbon dioxide, methane, nitrous oxide, and hydrofluorocarbons.

According to data from Deloitte, the chemical industry emits more than two gigatons of greenhouse gases per year on a global scale. Direct CO2 emissions resulting from primary chemical production activities amounted to 920 mt in 2022. While this represents a 2.3% decrease over 2019 emissions, primary chemical production emissions will peak over the coming few years and will then decrease to around 10% below 2020’s levels by the year 2030, rising demand notwithstanding.

In recent years, many companies in the chemical industry have committed to reducing their emissions and developing more sustainable products and processes. To prepare for decarbonization, chemical companies must adopt a range of strategies that reduce carbon emissions while maintaining economic competitiveness. These strategies include energy efficiency, sustainable feedstocks, carbon capture, utilization, and storage (CCUS), renewable energy, reduction of waste, and circular economy. In order to achieve the set goal, chemical companies must take a multi-faceted approach to achieving net-zero emissions and decarbonization while maintaining their competitiveness in the industry.

Key discussion points during panel discussion are: Focused policy support; Financing and embracing new technologies; Sustainable feedstocks/technologies; Carbon capture, utilization, and storage (CCUS); Collaborating with partners across chemical value chain; Use of renewable energy and energy efficiency; Reshaping plant network and working with supply chains; Water efficiency; and Adoption of demand management/circular economy.  

The two-day summit will see a galaxy of thought leaders brainstorming on innovation, self-reliance & sustainability in chemicals, petrochemicals, and energy sectors so that India can move ahead by taking quantum jumps in years to come.