Post: Low-carbon emitting technologies essential for the chemicals industry: WEF

Low-carbon emitting technologies essential for the chemicals industry: WEF

Low-carbon emitting technologies (LCETs) are essential building blocks in the net-zero for the chemicals industry, the World Economic Forum (WEF) has said.

In a report published on 16 May, the WEF noted that low-carbon emitting technologies (LCETs) are important building blocks in the chemical industry’s net-zero transition. But while LCETs offer significant decarbonization opportunities, they face various challenges and depend strongly on favourable policy environments.

In its analysis of policy landscapes for LCETs across seven jurisdictions covering about 50% of global greenhouse gas (GHG) emissions (China, the European Union, Japan, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States) and across five key LCET areas (biomass utilization, carbon capture and utilization, electrification, alternative hydrogen production and waste processing) the study revealed the following insights about existing policy support:

• Hydrogen receives the most attention and policy support among LCET areas
• Carbon capture is on a par with hydrogen production in the United States
• Electrification of processes is on a par with hydrogen production in the European Union
• Biomass utilization and waste processing will both likely see additional policy support in the near future, moving away from fossil feed and fuel
• Besides increased incentives and climate targets, on average, technology and infrastructure policies are strengthened in all analysed jurisdictions
• Supportive measures, such as funding schemes, vary significantly between countries, but are emerging or maturing across the globe
• While on the rise in some countries and across borders, policies stimulating demand for sustainably produced goods are not yet a focus

Increased policy ambitions supporting the development and upscaling of LCETs are influenced by a number of globally emerging themes, alongside national or regional approaches, reflecting political and legal traditions as well as strategic considerations.

GridBeyond CEO and Co-founder Michael Phelan said:

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