A net zero transition that creates UK business opportunities

The industry is not just a contributor but is a vital part of advanced manufacturing supplying the advanced materials used in clean energy generation and storage, life sciences, the future of mobility and AI and the data economy. However, the barriers to transition must be overcome jointly, particularly for energy intensive, trade exposed sectors like chemicals that compete internationally for inward investment. The past three decades have seen the UK chemical industry reduce its greenhouse gas footprint by over 80%, predominantly through fuel-switching, emission abatement and energy efficiency, but also through loss of production.

Now the task for the next three decades is transforming how we produce and what we produce, all whilst remaining globally competitive. Not only will we need access to plentiful and competitively priced alternative energy sources – such as low carbon electricity and hydrogen – we will also need carbon capture and storage infrastructure to remove the emissions that result from chemical reactions during production. On top of this, we will need to reduce the use of non-renewable resources as feedstocks and deliver materials that can be recycled.