The Chemical Industry’s Journey towards Climate Neutrality
The iC2050 model is a unique tool designed to sketch and demonstrate feasible pathways towards a climate neutral and circular chemical industry. It generates pathways to aid in pinpointing cost-effective strategies for reducing emissions and informs chemical companies鈥� strategies by placing them in a wider sectoral context. Its objective function is to minimise the Net Present Cost (NPC) of production in the chemical industry while meeting the GHG abatement and sustainable carbon targets. Based on projections of future demand for chemical products up to 2050, and a description of the future operating conditions for the sector (defined by the user), the model computes the corresponding GHG abatement trajectory. The scenarios and sensitivities presented in the report are developed using various data sources and assumptions, collected through surveys, workshops, and bilateral discussions with experts.