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.
ICIS is organising regular updates to help the industry understand current market trends. Register here .
Read the latest issue of ICIS Chemical Business.
Read Paul Hodges and John Richardson's ICIS blogs.