Episode 1309: Think Tank: Hopes pinned on Clean Industrial Deal as Europe deindustrialisation gathers pace

Europe’s petrochemical sector will need to see bold moves in the EU’s Clean Industrial Deal to help reverse its decline.
-          May be a conflict between aim of making Europe more competitive and environmental goals

-          Europe is in the “last chance saloon” to halt deindustrialisation

-          Europe industry burdened by high cost of energy, CO2

-          Improved connectivity for renewable power will be essential for chemicals

-          Reform of Carbon Border Adjustment Mechanism (CBAM) welcome if it really protects local manufacturing 

-          Huge investment needed to make a low carbon future a reality

-          ICIS forecasts depressed operating rates for global ethylene, propylene to 2035

-          EU should focus on increasing tariff barriers, defence spending

-          Clean Industrial Deal should be welcomed as a direct response to Antwerp Declaration 

-          Deal will be published on Wednesday 26 February