Episode 1301: Think Tank: Only strong political action can save EU chemicals

Europe’s petrochemical sector is in the midst of a crisis which EU leaders can solve through bold actions, according to Ilham Kadri, president of Cefic and CEO of Syensqo.   

-          More than 11 million tonnes of European chemicals capacity slated to close

-          Decline can be reversed with strong EU political action  

-          Simplify bureaucracy, lower energy costs, finance low carbon transition

-          EU needs to stimulate demand for low carbon products, create level playing field against global competition 

-          Time to turn words into action through EU Clean Industrial Deal, new chemicals strategy

-          Chemicals CEOs in Europe need to examine their portfolios to identify where they can win against global competitors

-          Europe has a lot to offer – cutting edge technology, talent

-          Region needs a strong economy and that is only possible with strong chemical industry