Global Impact Coalition: Transforming the Chemical Industry Towards Net-zero by 2050

The Global Impact Coalition (GIC), a CEO-led group incubated by the World Economic Forum, has been launched to drive the chemical industry towards a net-zero goal by 2050. Initially known as the Low-Carbon Emitting Technologies initiative, GIC comprises leaders from major chemical companies like BASF, Sabic, and Covestro. The coalition focuses on projects like chemical and mechanical recycling of plastics and is collaborating on the development of electrically heated steam cracker furnaces to reduce carbon emissions significantly.