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Chemical and Advanced Materials

Chemical and Advanced Materials

The Chemical and Advanced Materials Industry Community is an exclusive community of peers. Partners in the community take an active role in the industry transformation and advance multi-stakeholder initiatives to deliver greater sustainability, resilience and performance into a variety of socioeconomic systems.

Industry Agenda

We shape the agenda of the chemical industry by combining industry-focused work with the multiple engagements of our partners across the numerous platforms of the Forum and across institutional initiatives.

The Transformation of the Chemical and Advanced Materials Industry

To continue developing socioeconomic value, the industry must lead the process of its own transformation, effectively integrating digital technologies and shaping the Fourth Industrial Revolution. It must also continue to define novel approaches to innovation that extend well beyond new molecules and applications. The Forum is supporting the following community’s efforts:

Scope 3 Taskforce

The objective of the initiative is to develop a revised framework for Scope 3 emissions assessment and target setting methodology that can be widely adopted by manufacturers of chemicals and advanced materials, and to establish a pathway to its adoption. It will deliver an agreed framework for scope 3 emissions assessment, a proposed methodology for target setting and a proposed implementation plan for the sector.

The Transformation of the Energy, Materials and Infrastructure System

The products, services and technologies offered by the chemical and advanced materials industry are at the heart of the energy transition: Emission reduction, energy efficiency, and all energy technologies (wind, solar, batteries, nuclear, hydrogen, etc.) materialize through chemistry and occupy an increasingly important role in the global economy. Leaders from the chemical and advanced materials sector are collaborating in the below initiatives within the Energy, Materials and Infrastructure platform:

·      Low-Carbon Emitting Technologies Initiative (LCET)

·      Hydrogen

·      Industrial Clusters

·      Net Zero Carbon Cities (NZCC)

The Transformation of Key Socioeconomic Systems

The sector’s products, services and technologies contribute significantly to the global economy, delivering material benefits that enable global food and nutrition, transport, construction and consumption economic activities. In addition, the industry plays a pivotal role in the global sustainability agenda by optimizing resource utilization at every step in major value chains. The sector needs to monitor and play an active role in their definition. Partners from the Chemical and Advanced Materials industry are playing active roles in the below initiatives:

·      Platform for Accelerating the Circular Economy (PACE)

·      Circular Cars Initiative

·      100 Million Farmers

·      Advanced Manufacturing and Value Chains

A Community Approach to the Industry Agenda

The Forum hosts high-level communities from the sector:

·      The Strategy Officers Community, constituted by executives responsible for mid-term strategy and corporate planning, who develop collective insights and identify trends and issues disrupting the sector in a 3- to 7-year horizon.

·      The Governors Community, constituted by Chief Executives and Chairpersons, provide leadership, define the industry agenda and drive change.

·      Groups of Senior Deputies who, appointed directly by the CEO, implement a community plan throughout the year on behalf of the Governors Community.

 

Contact: Fernando Gomez, Head of Industry Communities, fernando.gomez@weforum.org

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