Global Impact Alliance: Innovative collaboration in the chemical industry towards net-zero emissions

        The World Economic Forum has relaunched the Low Carbon Emission Technologies (LCET) initiative, which has been underway for more than three years, to help the global chemical industry achieve net zero emissions by 2050. The Global Impact Alliance has been established.

        The new alliance, co-founded by seven leading chemical companies - BASF, SABIC, Covestro, Clariant, LyondellBasell, Mitsubishi Chemical Group and Solvay, focuses on the cultivation of low carbon emission technologies in the chemical industry and is strongly supported by an expert team of more than 70 industry executives. The new alliance will focus on innovation, partnerships and net zero production technologies, and leverage the technology-leading demonstration projects of alliance member companies, including plastic recycling and processing R&D centers and electric heated steam cracking furnaces, to promote the development of low-carbon emission technologies for chemical production and related value chains to support the two goals of carbon neutrality and sustainable growth.

        Borg Brende, Chairman of the World Economic Forum, said: "After more than three years of incubation and achieving substantial results in the field of decarbonization, we are pleased to see the Global Impact Alliance become an independent legal entity. We are committed to developing a close partnership to promote sustainable development and innovation in the chemical industry."

        Charlie, CEO of the Global Impact Alliance Tan said: "I see the potential for a huge impact on the planet by reshaping the chemical industry. One of our goals is to create real value through collaboration, business model transformation and strong partnerships to open up new pathways to a net zero future. I am very excited to lead this work and focus on practical results rather than rhetoric."

        As the cornerstone of the global economy, the chemical industry provides key raw materials, core technologies and basic materials for the production of 95% of manufactured goods. Sourcing and using alternative sustainable carbon sources will play a vital role in the fight against climate change.