S\u00e3o Paulo \u2013 Abdulrahman Al-Fageeh, CEO of Saudi petrochemical company SABIC, advocated on Friday (25) at the B20 Summit in S\u00e3o Paulo for the global chemical industry to advance towards reducing greenhouse gas emissions and increasing productivity. He also highlighted what the sector has done to foster this change.<\/p>\n\n\n\n
He delivered the talk \u201cCircular Value Chains and the Future of Chemicals\u201d during the B20 Summit, an event that brings together business sector discussions within the G20, a group of the world\u2019s largest economies, which this year is chaired by Brazil and will hold its heads of state summit on November 18 and 19 in Rio de Janeiro.<\/p>\n\n\n\n
\u201cI believe the chemical industry can decarbonize and add value to consumer products. The key [to making this happen] is to be a benchmark in the circular economy,\u201d said Al-Fageeh, advocating for increased recycling of plastics and derivatives and promoting emission reductions through greater electrification, energy efficiency, and carbon capture and storage.<\/p>\n\n\n\n
Al-Fageeh said the chemical industry is already capable of converting 40% of the oil from its raw materials into products, and the future involves production units that can not only reduce emissions but also recover what they have emitted. The most modern plants can use solar energy generated from farmland in some locations. However, for this to happen, production units need to be adapted to receive new energy sources.<\/p>\n\n\n\n
This is not enough, the executive emphasized, if plastic waste and garbage are not recycled or reused. Al-Fageeh mentioned that the sector has been working together to foster the reuse of products made by the chemical industry, in addition to investing in the creation of recycling infrastructure.<\/p>\n\n\n\n
\u201cAll these help reduce the sector\u2019s emissions, as well as encourage the recycling of materials,\u201d said Al-Fageeh, who met this week with the CEOs of some of Brazil\u2019s largest manufacturing, fuel, and food companies. SABIC<\/a> and oil company Saudi Aramco are master sponsors of the B20.<\/p>\n\n\n\n