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Collaboration in innovative low carbon technologies
It is expected that the demand for chemicals and materials will quadruple by 2050 due to population growth.
In contrast, the Paris Agreement states that the chemical industry needs to reduce emissions by 45% within this same time frame.
Despite this, the reduction in CO2 emissions wont be successful unless new technologies are developed.
Collaboration is needed from technological challenges such as hydrogen generation in low carbon processes to collaborative innovation models. These partnerships would allow all parties involved to benefit from the shared risk and lowered uncertainty.
This initiative is led by the Chemistry and Advanced Materials Governors Community at the World Economic Forum. The aim of the initiative is to hasten the development of low carbon emitting technologies within the chemical industry to reduce their Greenhouse Gas emissions.
The predicted result of this project is to create an alliance that will support the implementation of the advanced technologies.
The World Economic Forum expands further on this initiative here.
