Chemical companies are contributing to global climate change mitigation through various strategies and initiatives. Here's how some of the leading chemical companies are making an impact:
1. BASF:
- BASF is committed to reducing its own CO2 emissions and those upstream in the value chain, which helps customers achieve their climate protection targets . They continuously determine the Product Carbon Footprint for around 45,000 sales products to increase transparency and target CO2 reduction measures effectively .
- BASF supports the Paris Agreement and engages in various national and international initiatives to promote global climate action .
- They aim to reduce greenhouse gas emissions from their production processes (Scope 1) and energy purchases (Scope 2) by 25% by 2030 compared to the 2018 baseline, with a long-term goal of net-zero greenhouse gas emissions by 2050 .
- BASF is investing in renewable energy projects, such as the Hollandse Kust Zuid offshore wind farm, to secure significant amounts of power from renewable sources, which is a key element in their transformation towards climate neutrality .
2. ExxonMobil:
- ExxonMobil has announced an ambition for net-zero greenhouse gas emissions by 2050, focusing on detailed Scope 1 and Scope 2 emission-reduction roadmaps for major operated assets .
- The company's strategy includes investing in lower-emission solutions where it has extensive experience, such as carbon capture and storage, hydrogen, and biofuels .
- ExxonMobil is also committed to helping customers reduce their greenhouse emissions through these technologies and is investing in carbon capture and storage, hydrogen, and biofuels .
- They have identified more than 150 potential steps and modifications that can be applied to assets in their upstream, downstream, and chemical operations to help reach net-zero for operated assets by 2050 .
These initiatives demonstrate the commitment of chemical companies to play a significant role in mitigating climate change through reductions in greenhouse gas emissions, investments in renewable energy, and the development of lower-emission technologies.