What do steel, cement and chemical production all have in common?

They're sectors that are trying to meet increasing demand while lowering their greenhouse gas emissions. And it's not easy.

Take a look:

  • Demand for chemical products, such as plastics, is growing, and the demand for primary chemicals has increased significantly. The chemical sector is the third-largest industrial emitter of direct carbon dioxide (CO2) emissions.
  • Demand for cement is expected to grow by 2.4% a year until 2026. According to the IEA (International Energy Agency), direct CO2 emissions from cement have been mostly flat in recent years, but declines of about 3% annually through 2030 would be needed to meet emissions reduction targets under the IEA Net Zero Emissions by 2050 Scenario.
  • The demand for steel is projected to rise 30% by 2050. Total CO2 emissions from the iron and steel sector have risen over the past decade, in large part because of increased demand.

These industries-steel, power, chemical, cement and refining to name a few-are considered hard to abate, meaning it's difficult to lower their greenhouse gas emissions.

This also means they will need creative solutions in order to decrease their carbon intensity.

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Chevron Corporation published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 19:16:04 UTC.