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The continuous growth of the global economy has led to the depletion of fossil resources, and chemical companies based on this have faced a major storm. Hans Wijers, the chief executive of AkzoNobel, the world's largest paint company, said in an exclusive interview with Shanghai Securities News recently that chemical companies must reduce their reliance on non-renewable resources and that sustainable development will be the basis for their survival. Touchstone."
“The scarcity of resources is one of the major challenges for the chemical industry today. As many of the world’s non-renewable resources are gradually declining, the rapid economic growth in emerging markets has pushed resource demand and prices to a new high, and the chemical industry is facing a major storm. Enterprises that rely on raw materials for their livelihoods can survive only if they turn the business into a highly sustainable one,†said Wei Siyi.
"We must not underestimate the importance of sustainable growth." He predicted that by 2050, global GDP will increase five-fold, resulting in more than one billion middle-class people, which will lead to a surge in global carbon emissions and energy consumption. In addition, it is expected that the GDP of the BRIC countries will exceed that of the G6 countries by 2035. Under the influence of these factors, the current lack of major resources such as oil, water, land and Other raw materials will become increasingly serious.
However, products manufactured by chemical companies rely heavily on non-renewable resources, and these products will be used to produce thousands of everyday products. Reducing the dependence of the chemical industry on scarce resources means that the entire manufacturing industry will reduce input costs and its impact on the ecological environment.
“As a major user of scarce resources, the chemical industry is often seen as a problem rather than a part of the solution. However, by making more efficient use of non-renewable resources, we can skillfully use these opportunities brought about by the huge demographic transition. The winners in this competitive arena will be those companies that use fewer resources and at the same time increase their output," said Wei Siyi.
In his view, some industry leaders have already taken precautions and adopted new risk assessment criteria to evaluate all investment decisions. For example, all investment decisions, life cycle assessments, life cycle costs, and carbon emissions costs must be considered and given equal weight. The introduction of a global, more effective carbon emissions trading system will determine the success and failure of companies. In addition, environmental pollution should not only measure carbon emissions but must also consider other criteria such as the use of water, land, energy, and raw materials.
“The largest growth driver in the chemical industry will be the development of more sustainable products. In this regard, the leading companies in the future will have obvious competitive advantages. This is the development direction of the chemical industry, and it will also be whether companies can survive. 'The Touchstone'," said Wei Sijun.
He also pointed out that “external stakeholders should also change for this purpose. The government needs to create a sound regulatory system to ensure that private companies’ investment returns within 10 to 20 years. Similarly, the investment industry needs to support the long-term investment of enterprises. Although these initiatives sometimes have an impact on short-term returns."
“The scarcity of resources is one of the major challenges for the chemical industry today. As many of the world’s non-renewable resources are gradually declining, the rapid economic growth in emerging markets has pushed resource demand and prices to a new high, and the chemical industry is facing a major storm. Enterprises that rely on raw materials for their livelihoods can survive only if they turn the business into a highly sustainable one,†said Wei Siyi.
"We must not underestimate the importance of sustainable growth." He predicted that by 2050, global GDP will increase five-fold, resulting in more than one billion middle-class people, which will lead to a surge in global carbon emissions and energy consumption. In addition, it is expected that the GDP of the BRIC countries will exceed that of the G6 countries by 2035. Under the influence of these factors, the current lack of major resources such as oil, water, land and Other raw materials will become increasingly serious.
However, products manufactured by chemical companies rely heavily on non-renewable resources, and these products will be used to produce thousands of everyday products. Reducing the dependence of the chemical industry on scarce resources means that the entire manufacturing industry will reduce input costs and its impact on the ecological environment.
“As a major user of scarce resources, the chemical industry is often seen as a problem rather than a part of the solution. However, by making more efficient use of non-renewable resources, we can skillfully use these opportunities brought about by the huge demographic transition. The winners in this competitive arena will be those companies that use fewer resources and at the same time increase their output," said Wei Siyi.
In his view, some industry leaders have already taken precautions and adopted new risk assessment criteria to evaluate all investment decisions. For example, all investment decisions, life cycle assessments, life cycle costs, and carbon emissions costs must be considered and given equal weight. The introduction of a global, more effective carbon emissions trading system will determine the success and failure of companies. In addition, environmental pollution should not only measure carbon emissions but must also consider other criteria such as the use of water, land, energy, and raw materials.
“The largest growth driver in the chemical industry will be the development of more sustainable products. In this regard, the leading companies in the future will have obvious competitive advantages. This is the development direction of the chemical industry, and it will also be whether companies can survive. 'The Touchstone'," said Wei Sijun.
He also pointed out that “external stakeholders should also change for this purpose. The government needs to create a sound regulatory system to ensure that private companies’ investment returns within 10 to 20 years. Similarly, the investment industry needs to support the long-term investment of enterprises. Although these initiatives sometimes have an impact on short-term returns."
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