The emissions intensity and projected growth of the chemical sector, linked to the transition from a high to a low carbon society, means that this sector has a key role to play in shifting the world to a below 2⁰C trajectory. However, the heterogeneity of chemicals production presents a sector-specific challenge for aligning company targets with sector and global GHG emissions budgets.
Therefore, the Science Based Targets initiative is planning to develop nuanced decarbonization pathways for sub-sectors to allow for comparison of more homogenous chemical products. The project will ultimately deliver decarbonization pathways & guidance that chemical sector companies can use to set sector-appropriate and science-based GHG emission reduction targets.
These products will be developed through an inclusive multi-stakeholder process. WRI will be the primary author of the guidance and chemical companies and other relevant stakeholders will have the opportunity to provide input on the pathways and guidance at key milestones throughout the development process.
While the development of sector decarbonization pathways is still in planning the Science Based Targets initiative encourages companies from this sector to use the Linear Decarbonization Approach if they wish to submit target to the initiative for validation. Unfortunately the chemical sector pathway in the SDA tool cannot be used at present.
Please contact us if your company or organization is interested in engaging in this process.