The SBTi Opens Consultation and Call for Experts to Advance its Chemicals Sector Project

In adherence with SBTi’s rigorous and consistent process for developing standards, the SBTi is calling for experts to participate in the development of the Chemicals Sector Guidance through a public consultation and an Expert Advisory Group (EAG). This open call marks a pivotal step in advancing the initiative's efforts to provide companies in the chemicals industry with sector-specific criteria and guidance to set greenhouse gas (GHG) emissions reductions targets in line with 1.5°C.

The chemicals sector is the largest industrial energy consumer and the third highest emitter of CO2 worldwide. The sector is also being seriously impacted by climate change. Nearly one-third of chemical facilities in the United States are at risk from climate-induced weather events. As the climate becomes warmer and storms increase, chemicals plants face higher risk of fire, floods and accelerated corrosion of metal structures. If companies in this industry are to remain economically competitive, they must help drive ambitious climate action.

SBTi’s process for developing standards set out in its SOP, includes public consultation, review and approval by the independent Technical Council and formal adoption by the Board of Trustees.

Calling all stakeholders to contribute to the consultation process

The SBTi is calling industry and non-industry representatives to participate in the public consultation for the draft Chemicals Sector Guidance, which will run between May 15 and July 15, 2024. For a thorough overview of the Chemicals Project and the consultation process, check out the video below.

Following the consultation period and in line with SBTi’s Standard Operating Procedure, a team of experts will carefully review all feedback received and incorporate relevant comments to undergo a second consultation phase. The SBTi will also issue a public call for relevant companies to voluntarily support piloting the implementation of the draft Chemicals Sector Guidance.

Seeking diverse perspectives for advisory group

The SBTi is also seeking to expand its current Expert Advisory Group (EAG) for the development of the Chemicals Sector Guidance. Experts from corporates, finance, academia, research, government, non-profit and multilateral organizations - with deep understanding of global climate change mitigation and science-based target setting - can review the Terms of Reference and submit an expression of interest by June 5. EAG members have a volunteer advisory role, providing technical advice over the duration of the project.

External input and expertise are crucial for the development of SBTi’s standards. Gathering feedback from a balanced and diverse group of stakeholders allows the SBTi to develop a comprehensive understanding of the challenges and opportunities. This fosters the development of appropriate resources for companies to set science-based emissions reduction targets in line with what is needed to keep global heating below catastrophic levels.

About SBTi’s Chemicals Sector Guidance

The draft Chemicals Sector Guidance proposes three new pathways covering primary chemicals, and includes criteria applicable to all companies in the sector. Primary chemicals - i.e. ammonia, methanol and high value chemicals (HVC), which comprises ethylene, propylene, benzene, toluene and xylene - represent around 70% of direct emissions from the industry.

Watch this video featuring the SBTi Chemicals Project Lead as he provides a comprehensive overview of the Chemicals Project and the consultation process.

For more information, visit the chemicals sector page, sign up to SBTi’s newsletter and follow the SBTi on LinkedIn and X (formerly known as Twitter).