Chemical Industry and Societal Resilience

The COVID-19 pandemic uncovered numerous opportunities for the Chemical and Advanced Materials Industry to raise societal and sectorial resilience towards global shocks through collaborative action. These derive from its contributions in response (eg. through supplying components of critical materials such as personal protective equipment or hand sanitizer) and in recovery (through optimizing critical supply chains or supporting the transition to remote work).

The insights shared by the World Economic Forum's Industry Action Group illustrate additional opportunities to contribute to resilience, including collaboration along value chains (through greater transparency, information sharing, connected response mechanisms and streamlined protocols for business continuity), as well as greater transparency on social impact, and an accelerated Incorporation of circular economy elements in risks response protocols.

The current phase of the Industry Action Group is led by Covestro, Royal DSM, Saudi Basic industries (SABIC), Solvay and Umicore, convened by the World Economic Forum and supported by Accenture as knowledge partner.

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